http://www.newsroom.gov.bc.ca/2013/01/premier-announces-measures-to-support-and-protect-logging-contractors.html
Today Premier Christy Clark set in motion a $5-million fund to provide financial protection for forestry contractors, as well as announcing tax relief on previous compensation payments.
The compensation fund will strengthen payment protection for those who contract their services to forest sector companies. Logging contractors who provide services to licensees, but are not paid because of licensee insolvency, can now access this compensation fund to better protect their financial interests.
The Forestry Service Providers Compensation Fund was initially established in the spring of 2012, under the Forestry Service Providers Protection Act (FSPPA). Since the fund's inception the Province and industry have now reached an agreement around the fund's parameters, permitting logging contractors to be compensated if they incur a financial loss resulting from the insolvency of a licensee. The fund is administered arm's length from government.
Today Premier Christy Clark set in motion a $5-million fund to provide financial protection for forestry contractors, as well as announcing tax relief on previous compensation payments.
The compensation fund will strengthen payment protection for those who contract their services to forest sector companies. Logging contractors who provide services to licensees, but are not paid because of licensee insolvency, can now access this compensation fund to better protect their financial interests.
The Forestry Service Providers Compensation Fund was initially established in the spring of 2012, under the Forestry Service Providers Protection Act (FSPPA). Since the fund's inception the Province and industry have now reached an agreement around the fund's parameters, permitting logging contractors to be compensated if they incur a financial loss resulting from the insolvency of a licensee. The fund is administered arm's length from government.
