COVID-19 Update: Exploitation or Gross Sales Reports for the period ending June 30, 2020
July 29, 2020 – As we continue to experience the impact that COVID-19 has had on our industry, Telefilm Canada would like to inform its clients that there will be no accrual of interest on any amount due pursuant to a financing agreement for the months of July and August 2020.
Exploitation or gross sales reports, as well as their amounts due for the period ending on June 30, 2020, continue to be due in accordance with their deadline of August 15. Defaults and payments are postponed without interest until August 31, 2020 for reports or amounts not received during this period.
The accrual of interest will resume as of September 1, 2020, in accordance with our financing agreements. Clients who did not submit their report or payment will be considered in default. Telefilm continues to monitor and evaluate the situation and will update accordingly if necessary.
Per COVID-19 guidelines, payments must be done by direct deposit.
Defaults related to other unpaid amounts, reports, or deliverables may be lifted under certain circumstances until August 31, 2020. Please contact the Business Affairs department for deliverable defaults or a Compliance & Collection analyst for defaults related to unpaid amounts or reports.