Both businesses and individuals are already feeling the economic
impact of the COVID-19 pandemic, even during what appears to be its
early stages. Over the last month Holman
Webb has received numerous enquiries from businesses of all
sizes, who are looking to review their contracts to see how they
may exit (or how the other party may exit), if doing so becomes
necessary.
You may have seen the words 'force majeure'
floating around since COVID-19
began hitting Australia. This term essentially refers to a
clause in a contract providing a way of leaving the contract under
certain circumstances.
So, what does it mean, and does it apply to you? To help
clarify, here are 5 points that you should know about force
majeure.
