Business Interruption Insurance What is business interruption insurance? Business interruption insurance is a form of business insurance that provides coverage to the policy holder for certain financial losses suffered by the business if it is unable to operate its...
Back to back agreements A back to back agreement is used in commercial arrangement where you enter into a contract with a third party and some or all of your duties and obligations are to be performed by a third party, or you are reliant on the actions of a third...
Benefits of having a contract in place If you have a good relationship with your counterparty you may be comfortable entering into a relationship based on a “gentlemen’s” agreement or a more informal agreement than a written agreement. However, we would always...
Commercial Contracts: Negotiating out of problems How to develop a strategic approach to problems? When issues arise in respect of contracts, before rushing into any decisions and potentially worsening both your commercial and legal position as a business you must...
Contract Variations – how to implement them correctly Parties may agree to vary the terms of a contract by mutual agreement, one party may have the unilateral right to amend some or all of the terms, or there may be a contractual process that the parties are required...
COVID-19 and force majeure clauses: the position moving forward What is a force majeure clause? A force majeure clause typically excuses one or both parties from performance of the contract in some way following the occurrence of certain events. There is no set form...
