The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
Closure of Business
The COVID-19 pandemic has been affecting the health of the public and the economy. In an attempt to contain the COVID-19 infection, Philippine government suspended various business operations and implemented strict community quarantine procedures. Due to the substantial reduction of economic activity, many business operations have been affected. For some, it resulted to great business losses. And to stop the bleeding, many business owners opt to permanently close their businesses.
PONDO SA PAGBABAGO AT PAG-ASENSO (COVID19 P3-ERF)
Small Business Corporation under the guidance of the Department of Trade and Industry is setting up P1.0 billion Enterprise Rehabilitation Financing facility under the Pondo sa Pagbabago at Pag-asenso (Covid19 P3-ERF) to help many businesses affected by COVID-19 pandemic.
What Businesses are qualified for the Covid19 P3-ERF?
The loan is available to all micro and small enterprises with at least one year continuous operation prior to March 2020, and whose businesses suffered drastic reduction in sales during the epidemic.
CONTRACTUAL OBLIGATIONS OF BUSINESSES DURING COVID-19
Among the areas that the COVID -19 has impaired is the contractual obligations of businesses. Under article 1156 of the New Civil Code of the Philippines (NCC), an obligation is a juridical necessity to give, to do or not to do. Following this article of the New Civil Code are the questions, “Are there instances where the obligation may not be complied with?” If any obligation has not been complied with, is there any remedy under the law against the erring party? Is there an instance where the debtor may be excused from the performance of his obligation/s?
SSS Benefits Available To Employees During The Covid19 Pandemic
To contain the spread of the coronavirus, the government had to implement an Enhanced Community Quarantine (ECQ). As a result, many businesses were not able to operate and many employees were not able to work. Accordingly, many of these employees were not paid. In order to mitigate the financial burden of the employees, Social Security System provided the following services:
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