The COVID-19 pandemic arrived out of the blue and engulfed the
world like wildfire. It has become one of the greatest humanitarian
challenges and the biggest health crisis of our times. However,
every crisis teaches new lessons to the human race and some of
those are in the way business is run today. These lessons will
continue to apply in the future, of which the most important ones
are resilience and flexibility of businesses.
Most commercial transactions throughout the world are conducted
through contracts. Upon the onset of a crisis, contracts are the
first thing to be pulled out of the closet and to be read
line-by-line to the advantage of each affected party (when it is
'business as usual' and going well, it is likely that no
one will read the contract). However, in case of any unexpected
event, the same business functions, who were always pressuring to
sign the contracts at earliest, will expect from the legal
department that the remedy for such an unexpected
