Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today the launch of three essential new services to further enhance its one stop shop for all conveyancing needs in England. In addition to the market leading range of existing due diligence conveyancing searches, legal professionals can now access vital extra workflow efficiency tools that will ensure a smoother path to the completion for any property transaction.
Legal professionals can now select from a marketplace of leading legal indemnity and defective title insurance providers on-line. Prior to this innovation, many conveyancers had to search numerous sites on-line or in trade directories and had traditionally filled out paper forms and sent cheque payments. By bringing the leading insurance providers together in one place, the frustrating paper-chase is ended so that clients can be insured against vague or missing title deeds, lack of building regulations consent and other issues that can halt the transaction at the final hurdle.
With the launch of Land Registry Compliant Lease Plans, MDA has also addressed the needs of legal professionals to accurately identify a leasehold property’s layout and boundary and meet Land Registry’s strict compliance rules. Many transactions are currently held up due to incomplete or inaccurately drawn plans. By hand picking leading national suppliers, MDA have been able to guarantee compliance and tailored or off the shelf packages, together with an efficient payment and fulfillment mechanism which adds up to time savings and risk reduction for residential or commercial conveyancers.
For commercial lawyers, the new Land Referencing service provides a single view of multiple title plans and supporting conveyancing documentation around commercial plots for larger capital projects. At the moment, commercial conveyancers typically piece hard copy plans together in a manual, time consuming patchwork. This new approach brings all the relevant documentation together in one place, in electronic format, thus saving a lot of legwork in verifying the ID of residents as well as the land ownership information for capital projects. This assists in risk management with individual title plans, meaning a more professional and efficient workflow.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,200 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA’s actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.