Covid-19, better known as the Coronavirus, has been headlining the news for weeks. With the epidemic worsening, businesses now fear how this will impact their contractual obligations. Normally, the law obliges businesses to continue with their performance obligations absolute. However, if the operation of force majeure comes into play or the contractual agreement is frustrated then the games changes… Does your contract contain a force majeure clause? Is it difficult to perform your contractual obligations resulting in business standstill? If so, the below will provide you with guidance on how to resolve, avoid and mitigate the commercial turmoil that Covid19 has brought with it.
What is force majeure?