Reminder: Re-Align Framework Submissions Deadline

22 Jan 2021

Ref No: 220221 (1)
UEN: S97SS0046G

As per the Association’s email sent on 3 February 2021 , we would like to remind our members who wish to renegotiate their contracts or take up the Repayment Scheme under the Re-Align Framework to serve a Notice of Negotiation or Notice of Revision respectively on your counter-party and all other interested parties by 26 February 2021 (Friday).

If you do not serve a Notice of Negotiation or Notice of Revision by 26 February 2021, you will not be able to obtain relief under the Framework. More details below.

Supporting documents should also be attached to the Notice to demonstrate to the other party that you comply with the eligibility criteria under the Framework, and to ensure fast and efficient good faith negotiations. Please refer to the information below for more details.

Notice of Negotiation (“NoN”)

For Renegotiation of Contract Terms and Termination of Contract
When serving the NoN, the Affected Business should enclose the necessary supporting documents (set out here).
Serve NoN using our electronic system:
If you are acting on behalf of an entity that is a party to the contract, please use this link (CorpPass).
If you are an individual who is a party to the contract, please use this link (SingPass).

Notice of Revision (“NoR”)

For Hirers and Renters of commercial equipment or vehicles who wish to take up the Repayment Scheme for Hire-Purchase and Equipment Rental contracts (i.e. instalment plan to pay their accrued arrears within 18 months)
When serving the NoR, the Hirer/Renter should enclose the necessary supporting documents (set out here), as well as set out a proposed repayment schedule which meets the requirements listed here.
Serve NoR using our electronic system:
If you are acting on behalf of an entity that is a party to the contract, please use this link (CorpPass).
If you are an individual who is a party to the contract, please use this link (SingPass).

More Details

Small and micro businesses that have been significantly impacted by COVID-19 and wish to renegotiate selected types of contracts (e.g. dormitory tenancy agreement) with their counter-parties can do so under the Re-Align Framework from 15 January 2021. For more details on which contracts are covered by / excluded from the framework, please refer to Annex A.

Under the framework, counter-parties will have to enter into negotiations over contracts that have been impacted by COVID-19. The framework will be available till 26 February 2021. For details on the process of negotiations, please refer to Annex B.

If negotiations are unsuccessful and parties are unable to come to a mutual agreement, the contract will be terminated on just and fair terms in accordance with the Re-Align Framework. For details on terms of contract termination, please refer to Annex C.

A business will be eligible for the framework if:

Its annual revenue for the Financial Year 2019 does not exceed S$30 million on a global group basis; and
It has experienced at least a 70% fall in monthly average gross income for July to December 2020, compared to July to December 2019.

For more details on eligibility, please refer to Annex D.

Supporting Documents

For more information, please refer to the following documents:

To view the infographics in Chinese, Malay or Tamil, please click here.

Should you have any further questions regarding the Re-Align Framework, please visit www.go.gov.sg/re-align or reach out to MinLaw using this online form.

Our Warmest Regards,

ASPRI Secretariat
admin@aspri.com.sg