Diane Yarrow, Partner in our Corporate Commercial team has been featured on Fresh Business Thinking sharing insight into how businesses should carefully revisit the terms of their contracts with partners, suppliers and customers, to understand what obligations may be affected or disrupted, or where possible, terms could be renegotiated to help their business through the challenging times ahead.
The biggest challenge companies currently face is the financial impact that the coronavirus pandemic will have upon their business. A key consideration of this is the understanding of the various commercial contracts held within the business and to what extent the outbreak could excuse them or their counterparties from their contractual obligations.
Every company will have a range of commercial contracts, which will differ from business to business and sector to sector. For example, you may hold agreements for licensing and franchise, loan and finance and supply of goods and services or for shareholders and joint ventures.
Now more than ever is a good time to carefully revisit the terms of your contracts with partners, suppliers and customers, to understand what obligations may be affected or disrupted, or where possible, terms could be renegotiated to help your business through the challenging times ahead.
To read the full article, click here.
If you need support and advice on a commercial matter, please get in touch with Diane directly by calling 01628 502897 or emailing [email protected]