- Locate all active commercial contracts that contain an obligation on your business or that your business receives.
- Check contract clauses for Force Majeure provision.
- Check Termination clauses for rights to terminate
- Analyse whether either parties’ obligations are different.
- Consider your businesses’ risk profile and intellectual property rights.
- Take appropriate action - this might include writing to parties that are under an obligation to adhere to the contract to remind them that they have contractual obligations; or if your business is under the obligation, you may want to give formal notice to terminate or other legal rights.
These notes have been prepared for the purpose of an article only. They should not be regarded as a substitute for taking legal advice