Coronavirus - Government measures in key jurisdictions - Flipbook - Page 20
Canada
4
Contractual
Issues
What measures
have been taken
to reinforce
contracts?
Each Canadian province has its own legislation outlining the requirements for doing
business electronically and using eSignatures. In Ontario, British Columbia and Alberta,
barring a few important exceptions, eSignatures may be utilized for closing transactions
to create binding obligations.
Documents requiring a traditional “wet ink” signature include:
•
wills, codicils and trusts created by wills or codicils,
•
powers of attorney regarding an individual’s financial affairs or personal care,
•
negotiable instruments (such as certificated securities and negotiable promissory
notes),
•
beneficiary designations (such as for life insurance),
•
certain real estate matters, and
•
documents that are from time to time prescribed or that belong to a prescribed class.
With regard to real estate matters, parties may use eSignatures to sign documents
that create or transfer an interest in land. However, it is important to note that certain
restrictions may apply depending on the applicable province.
For a more detailed explanation, see the Cassels Comment located here.
Other contractual matters, including material adverse effect and material adverse change
provisions and Force Majeure clauses, have been impacted by the effects of COVID-19.
For more information, see additional Cassels Comments located here and here.
5
20
Property
Have any changes
been made to
the laws around
property, rent and
enforcement?
The federal government has announced plans to provide additional support for small
businesses through the Canada Emergency Commercial Rent Assistance (CECRA)
program. The program is intended to provide rent support to small and medium-sized
businesses that have been impacted by COVID-19 for the months of April, May, and June
2020. The federal government will be working closely with the provincial governments
to implement the program. Additionally, the federal government announced it will
be offering loans, including forgivable loans, to commercial landlords who offer rent
reductions to businesses across Canada. Further details on the program are anticipated
in the upcoming days.
Provinces and municipalities across Canada have implemented various measures
providing relief for both landlords and tenants in residential and commercial leasing
matters, including:
•
municipal property tax relief measures,
•
suspension of eviction orders and hearings related to eviction applications for
non-urgent issues,
•
temporary rental supplements,
•
rent freezes,
•
deferral of late fees on late rental payments, and
•
commercial rent deferral programs.
Government measures in key jurisdictions