Thanks in advance for reading our October 2018 update. Let's dive right in:
Dodgy Partners
You have probably come across dodgy partners. Clients that don’t pay on time, go bankrupt, vendors that don’t deliver or go out of business. These failed transactions cost a huge amount of time and money so how do you avoid them? Do your due diligence.
Having contracted terms is all well and good but a contract won't help you recover money and time quickly. Check financial records, ask for references and check online for chat room comments and published news. We can help if you are worried or don’t know where to start just remember it was not the hare that won the race.
Freelancer Legals
In April next year the re worked Employment Act comes in for Singapore and there are some notable changes for freelance staff. Introduction of the Tripartite Standard on Contracting with Self Employed Professionals (“Tripartite Standard”) aimed at providing a non-binding set of guidelines or best practices. Businesses that adopt the Tripartite Standard can use its logomark in their corporate and marketing collateral to distinguish themselves.
The Government is studying the implementation of a “contribute-as-you-earn” (“CAYE”) model to help SEPs save for their retirement and healthcare needs. The CAYE pilot project is expected to start by 2020. The Government has also indicated that it will work with various SEP associations to develop competency frameworks for SEPs’ upskilling, to enhance career sustainability and promote professionalism.
E-signing and JaiFin News
We’ve gone paperless on documents. After reviewing Docusign, HelloSign and SignNow we have decided to go with Hello Sign. We do board meetings, sale and purchase contracts and employment agreements on the system all fully legal in Singapore, Hong Kong, Japan, the EU and Australia. We can initiate agreements for you quickly and get them executed without chasing faxes and couriers around the world.
Our last bit of news is our newest investment. We are proud to announce that we are now a minority shareholder in CVP Group. CVP is a fun, fast and creative video production agency based in Singapore with work through Asia. You will see a lot more of them in the future - a recent Circles Life video here:
