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BPFI welcomes Code of Conduct on commercial rents

1st October 2020

Banking & Payments Federation Ireland (BPFI) welcomes today’s publication by the Government of a new Code of Conduct on commercial rents. This new voluntary code, which has been developed through consultation between Government and stakeholders, sets out principles of engagement for both landlords and tenants and urges commercial landlords to show forbearance to tenants struggling to meet their obligations due to Covid-19 related pressures.

Speaking earlier today BPFI Chief Executive, Brian Hayes, said: “With Covid-19 continuing to affect businesses all across Ireland, BPFI is pleased to welcome this new Code of Conduct, which provides a structured approach for both landlords and tenants and will help facilitate sustainable outcomes for all involved.”

“This code encourages landlords and tenants to engage with each other as early as possible and to show understanding and forbearance. In these unprecedently challenging times for Irish SMEs, BPFI has no hesitation in supporting those principles.”

The new Code of Conduct between landlords and tenants for commercial rents was launched today by Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, alongside Minister of State for Business, Employment and Retail, Damien English TD and Minister for Housing, Local Government and Heritage, Darragh O’Brien TD.

 

About: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: For further information contact Jillian Heffernan, Head of Communications, jillian.heffernan@bpfi.ie  087 9016880

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