The COVID-19 pandemic continues to drag on. Finland is currently in a three-week lockdown, and experts predict that we will have to adopt even more stringent measures before enough of the population has been vaccinated.

At the same time, companies that have been struggling with the pandemic for over a year already have to keep looking for ways to improve their liquidity. There is still no certainty over when we will be able to return to normal.

Temporary Respite for Payment Still in Force

The COVID-19 pandemic hit Finland’s economy hard last spring. The restrictions and recommendations issued to stem the pandemic led to an unexpected drop in turnover and cashflow in many sectors.

Retention of title clauses are clauses by which the title to property to be sold is retained by the seller until the purchase price has been paid in full. This is an exception to the general rule provided in the Finnish Sale of Goods Act, according to which the title to property is transferred to the buyer at the same time as possession.