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ARTICLE · 18 MARCH 2020

Force Majeure In Light Of Covid-19

Covid-19 is spreading, and the mass hysteria and panic buying, are causing irreparable damage to the global economy.

South AfricaFinance and Banking

Covid-19 is spreading, and the mass hysteria and panic buying, are causing irreparable damage to the global economy. Currently, the only people resting easy at night are the manufacturers and distributors of hand sanitizer and face masks. Companies worldwide are distributing notices to their employees cancelling international travel, conferences, in person meetings, implementing their business continuity plans and giving detailed instructions on how to limit their employees' chances of catching the virus. However, the biggest concern for many businesses, whether they be investors, borrowers, suppliers, service providers or contractors – is whether or not they have appropriate contractual rights to protect them during this period.

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