CORONAVIRUS: Managing the Risk of Breach of Contract

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CORONAVIRUS: Managing the Risk of Breach of Contract

2020-04-13

There is no doubt that surviving the Covid-19 pandemic has become the greatest common battle around the world in recent months. Despite this principle concern, it is important not to overlook the fact that, before this situation arose, people had entered into agreements, taken out loans, and signed commitments. Particular attention must be paid to these situations, because there is also no doubt that this pandemic will continue to influence personal and professional commitments already made. As a result, people need to know how to manage the risk of breach of contract, which, in itself, also bears a reputational risk.

Businesses must assess the extent to which the impact of the Covid-19 could affect their ability to comply with the contractual obligations they have assumed, especially towards their customers. They must also evaluate the mechanisms available to them to react if the other party breaches  a contract.

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