September 30th marks the National Day for Truth and Reconciliation in Canada, a statutory holiday that applies to federally regulated workplaces, including banks. Payments Canada, the national payments clearing and settlement system, will also be closed on September 30th. Although SureFund™ will be available for preparation of deals and collaboration, payouts cannot be disbursed on that day.
It is recommended that all real estate closings be adjusted to the business day before or after September 30, 2022.
Special Note on Cheque payments and courier deliveries:
For deals with cheque payments on Thursday, September 29th, courier deliveries should be expected to arrive on Monday, October 3rd. Please be sure to add appropriate per diems for cheque payments submitted on the September 29th.
On this day, we reflect on the tragic history and lasting effects of Canada’s residential school system, and honour the Indigenous survivors and their families and communities. Creating a stronger, more inclusive society is all about valuing and respecting each other – one of Teranet’s core values.