We were delighted to host a webinar looking at Commercial Contracts during COVID:19 – Onboarding, Managing and Exiting on Wednesday 15 April. The COVID-19 crisis is having a profound effect on all areas of business, including in relation to how businesses manage their contractual obligations and whether the crisis can trigger relief, either for the business or for one of its key third party suppliers. Now is the time to review your contracts to ensure you can mitigate effects on your business and maintain and optimise key supply lines.
During this webinar, our speakers looked at the following:
- Entering new contracts and the issues which should be considered when on-boarding new vendors
- Managing existing contracts – triggering relief, amending or extending payment terms and scope and how to do this in as quick and cost effective manner as is possible
- Strategy when considering whether to trigger a termination of the contract and how best to approach this
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