- Country: Canada
- Summary: Financial Consulting Services for the Farm Debt Mediation Service (Fdms…
- CAT Ref No: 94411697
- Deadline: 08 Feb 2024
- Financier: Self Financed
- Purchaser Ownership: Government
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 01B68-23-0201
- Purchaser's Detail:Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details.
- Description:
- The Farm Debt Mediation Act (FDMA) received Royal Assent on April 25, 1997 and came into force on April 1,1998. The FDMS was established to deliver the FDMA. The service provides a streamlined process of mediation to assist insolvent farmers and their creditors to negotiate settlement arrangements, rather than have those disputes result in costly legal proceedings for all parties.
To apply for assistance under the FDMA, the applicant must be engaged in farming for commercial purposes and, must also be "insolvent”, which is defined in article 6 of the FDMA as follows:
Only farmers:
•who are for any reason unable to meet their obligations as they generally become due; or
•who have ceased paying their current obligations in the ordinary course of business as they generally become due; or
•the aggregate of whose property is not, at a fair valuation, sufficient, or if disposed of at a fairly conducted sale under legal process would not be sufficient, to enable payment of all their obligations, due and accruing due.
Under the FDMA, farmers can apply for either:
•a stay of proceedings against the farmer by all the farmer-s creditors, a review of the farmer-s financial affairs, and mediation between the farmer and all the farmer-s creditors for the purpose of assisting them to reach a mutually acceptable arrangement; or
•a review of the farmer-s financial affairs, and mediation between the farmer and all the farmer-s secured creditors for the purpose of assist... - Documents:
01b68-23-0201-rfso--fdms-financial-consultants-saskatchewan-eng_0.pdf
01b68-23-0201-rfso--fdms-financial-consultants-saskatchewan-fre.pdf
If you are registered member, kindly login to view full details of this tender notice:
CLICK HERE TO LOGINFinancial Consulting Services for the Farm Debt Mediation Service (Fdms… - Canada Tender
The AGRICULTURE AND AGRI-FOOD CANADA, a Government sector organization in Canada, has announced a new tender for Financial Consulting Services for the Farm Debt Mediation Service (Fdms…. This tender is published on CanadaTenders under CAT Ref No: 94411697 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2024-02-08.
The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.
