COVID-19: Managing contractual relationships in the face of disruption
Meeting contractual obligations during a non-essential work suspension
Our latest article evaluates how the suspension of all non-essential operations will impact a business's ability to meet its existing contractual obligations. We also outline why an organization must understand contractual risk exposure and mitigate that risk, including remediation of contractual clauses to provide more robust protection through times of extraordinary circumstance.
The immediate action many organizations have taken to mitigate the spread of the COVID-19 has been commendable. This action, however, will likely have both short and long-term effects on the contractual relationships held with customers, suppliers, contracts, insurers, employees, and more. In COVID-19: Managing contractual relationships in the face of disruption, we explore how businesses can relieve some of the contractual pressures caused by COVID-19.
Topics covered in this article:
- The imperative for risk mitigation. Through a diligent review of existing contracts businesses may be able to minimize loss and ensure continuity.
- Sector-specific example challenges. We look at some of the current tests faced in the insurance, construction, events and consumer good industry.