Wednesday, July 22, 2020

Have You Updated this Important Clause in Your Contracts?

COVID-19: Four key considerations for legal positions on force majeure

Legal teams are contemplating the option of applying the principles of force majeure to assess suspension or termination of their organization’s contracts. Key considerations for legal positions on force majeure across the world and how they affect parties who are unable, or may be unable, to perform their contractual obligations due to COVID-19 include:

Does this health crisis constitute a force majeure event?

What about relying on the force majeure doctrine in law? Does the position differ in civil law or common law jurisdictions?

Will legislation or local regulatory activity confirm a force majeure event?

It’s time to review your existing contract.

CLICK HERE to read the entire EY article

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