CFO has published "Did Your Contract Anticipate the Arrival of Coronavirus?" by David Mawhinney. As the virus continues to spread across the country and the globe, companies will likely start seeing an increase in contractual defaults. In this article, David reviews the related legal ramifications and remedies. Below is an excerpt from the article:
As the virus impacts more countries, however, domestic businesses might have the unpleasant surprise of learning that a supplier-of-a-supplier-of-a-supplier cannot make a delivery because of travel restrictions in some distant land. Supply chain disruptions like this should have businesses reviewing their contracts with vendors and customers to see what remedies they have if shipments are delayed or canceled.
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