BC contributes additional $250K to Forestry Service Providers Compensation Fund
The government of BC has contributed an additional $250,000 to the Forestry Service Providers Compensation Fund, which brings the total to more than $8.4 million.
“We want to do everything we can to support people who work in the forest sector,” said Doug Donaldson, B.C. Minister of Forests, Lands, Natural Resource Operations and Rural Development. “Now, even more funding is available for them when companies they are dependent upon become insolvent.”
Minister Donaldson made the announcement at the 61st annual Interior Logging Association convention.
According to a government news release, the fund is meant to provide relief to eligible forestry contractors who aren’t paid for forestry service they provided because the licensee who received the services became insolvent.
The fund is guided by a five-member advisory board which includes representatives from coastal logging contractors, Interior logging contractors, major coastal licensees, major Interior licensees and the Ministry of Forests, Lands, Natural Resource Operations and Rural Development.
As of April 8, 2019, the fund has distributed $482,742 related to three insolvencies.