Sharing Daily Discoveries About Personal Finance And Business Topics

Relying On An Honor System With Business And Money

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With a lot of people applying for the Canada Emergency Benefits fund many are wondering how long the process will take as there are certain criteria that need to be met in order to receive the funds. For example, earning at least $5000 the previous year. To the surprise of many it was actually clarified that for this process everyone will be automatically approved. All the details will be checked later on to verify the applicant’s legitimacy.

It was expressed that the reason for this is that if they actually had a detailed screening process it would take months for the process to go through which is too long. So instead they are essentially relying on an honor system where they make clear that they will eventually do a thorough screening afterwards. That’s kind of interesting as it seems so unfathomable in many ways.

Then again, it reminds me how a person told me that with companies using self-checkouts at stores as an example that the business knows there will be dishonest people. However, the majority will do the right thing and so it is simply more efficient and worth the minor incidents. I suppose it shows sometimes you can be more lenient in order to be more efficient and friendly for the majority as opposed to the usual saying of the few will ruin it for the rest.


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