Factories Corporation of Jamaica Limited, FCJ, has instituted policies to assist clients who have been negatively impacted by the Coronavirus (COVID-19), especially those in the productive sector.
FCJ recognises that majority of its clients in the Manufacturing and Distribution sectors will experience disruption in their operations as the Jamaican economy feels the negative impact of the pandemic.
Effective immediately:
- No rental and maintenance increases which are due will be applied for the next six months as of April 1, 2020 – September 30, 2020.
- A moratorium will be offered on rent for companies that have experienced significant decline in business. This moratorium will be for a three month period, effective April 1, 2020. The moratorium will be reviewed at the end of May to determine if a further extension is needed. Conditions apply, companies must submit a written request to the Client Service Department to access this benefit.
- Special consideration will be given on written requests submitted to the Client Service Manager for a payment holiday on rent only for one (1) or two (2) month’s for clients on an existing payment plan scheme approved by the Finance Department up to April 30, 2020.
- FCJ will offer faster formulation of payment plan arrangements for clients not on an existing scheme, upon written requests submitted to the Client Service Manager on difficulty to cover rent and maintenance charges available up to April 30, 2020.
These fiscal measures are geared towards balancing the concerns of existing clients, while maintaining FCJ’s fiscal prudency. FCJ will continue to monitor our clients to ascertain their challenges and make the necessary adjustments to keep us all in business.
