Following our earlier Insight, we received a range of
queries from our clients as the COVID-19 outbreak continues to
disrupt commercial operations and markets across the globe, sending
shockwaves through all businesses and supply chains.
We outline some of these queries below and set out some key
considerations for all businesses with contracts which have been
affected by the outbreak so that they can not only manage events as
they arise over the coming weeks, but also allow them to prepare as
effectively as possible during these uncertain times.
What initial steps should businesses with contracts impacted by
COVID-19 take?
- We recommend that businesses review
the relevant contracts to identify what force majeure rights,
remedies, and requirements may apply if a party’s operations
are disrupted by the effects of COVID-19 and carry out a
preliminary assessment of the consequences of a breach or default
of the contract. Contracting parties should also be mindful
