If review of a contract indicates an undesirable allocation of tariff costs, consider whether there is even an obligation to purchase or supply under the agreement....more
In addition to reviewing your commercial contracts for how new or increased tariff costs are allocated, another key area to evaluate is whether either party has the right to terminate the contract. If one party gets upside...more
9/5/2025
/ Buyers ,
Cancellation Rights ,
Commercial Contracts ,
Contract Drafting ,
Contract Negotiations ,
Contract Terms ,
International Trade ,
Pricing ,
Risk Management ,
Suppliers ,
Supply Chain ,
Tariffs ,
Termination for Convenience
Force majeure is a defense to performance that is created by contract. As a result, each scenario must be analyzed on a case-by-case basis depending on the language of the applicable force majeure provision...more
To ascertain which party in a commercial contract is responsible for tariffs, it is important to check whether the contract specifies the importer of record....more
In light of a trade landscape rife with tariffs, companies are examining their commercial contracts to judge the exposure to increased costs of production. One area of a supply contract that cannot be overlooked when...more
The rise of President Trumps’ tariffs in 2025 has brought uncertainty to the profitability of product sales and has thrown a wrench in previously stable supply relationships. Reminiscent of the 2020 push to review force...more
President Trump’s shakeup of U.S. trade policy with its approach to tariffs is costing companies billions of dollars. In fact, in June of this year, importers paid the U.S. government customs duties (of which tariffs are a...more
Assessing Tariff Impacts in Commercial Contracts -
With the size and scope of President Trump’s tariffs continuing to shift, this is a critical time for businesses to assess their contracts and determine how increased...more
In the business world, many companies enter into long-term contracts with respect to high volume, expensive, or essential transactions. A long-term contract is certainly beneficial for these types of transactions, but...more
This year, sentiment has declined to a tepid level with respect to cryptocurrency markets. For example, while some experts still believe that bitcoin could crack the $100,000 mark, the price of bitcoin slumped to under...more
Initially enacted in 1980, the Superfund chemical excise taxes apply to the sale or use of certain chemicals and substances to fund a federal cleanup program for hazardous waste sites. While the initial tax program expired...more
Due to the ongoing global supply chain crisis, companies face an uphill battle managing supply chain-related issues. On one front, companies are encountering frequent and extensive shipment and delivery delays. Information...more
6/23/2022
/ China ,
Coronavirus/COVID-19 ,
EU ,
Force Majeure Clause ,
Insurance Industry ,
Labor Shortage ,
Onshoring ,
Russia ,
Shipping ,
Supply Chain ,
Supply Shortages ,
Trucking Industry ,
Ukraine
Critical minerals, which include rare earth minerals, are generally defined as minerals that are important to supply chains, but difficult to mine and ship due to scarcity, geopolitical issues, trade policy, or a combination...more
3/4/2022
/ Blockchain ,
Customs and Border Protection ,
Department of Defense (DOD) ,
Department of Homeland Security (DHS) ,
Department of the Interior ,
Executive Orders ,
Forced Labor ,
Minerals ,
Rare Earth Metals ,
Uyghur Forced Labor Prevention Act (UFLPA) ,
Withhold Release Orders (WROs)
Blockchain in Supply Chain: Article 11 -
Manufacturers spend a pretty penny managing inventory logistics (the management of inbound and outbound flows of goods) and inventory warehousing (the receipt, storage, and...more
Today’s supply chains are frequently paper-based operations subject to human error and delay. Therefore, some companies are beginning to invest in digital infrastructure, including blockchain tools, to strengthen supply...more
Subscription-based services, embraced by the software industry as an alternative to traditional models of selling product, provide a steady income stream to providers. Software-as-a-Service, along with the related...more
What do teen digital artists, Tom Brady, Doja Cat, and Foley & Lardner LLP all have in common? They are all trending in popularity for their use of NFTs.
Jaiden Stipp is a digital artist, who at only 15 years old sells...more
The counterfeit business is booming. In fact, counterfeit goods account for a whopping 3.3% of global trade and cost the U.S. economy approximately $600 billion a year.
The Dangers of Counterfeit Products -
Counterfeiting...more
The advent of new technology brings along with it the murkiness of how the American legal system will treat such technology. Before the rise of blockchain for instance, businesses were uncertain how courts would treat...more
10/8/2021
/ Blockchain ,
California Consumer Privacy Act (CCPA) ,
Confidentiality Policies ,
E-SIGN ,
Force Majeure Clause ,
General Data Protection Regulation (GDPR) ,
Governance Standards ,
Service Level Agreements ,
Smart Contracts ,
Supply Chain ,
Termination ,
UETA
One benefit of blockchain includes its ability to harness the power of smart contracts.
What is a Smart Contract?
Although the term “smart contract” sounds like a legal instrument, a smart contract is actually a...more
Many companies need strong supply chain traceability. For the most prevalent tracing challenges, blockchain may provide a formidable solution.
Real-World Applications -
Using blockchain to trace products is especially...more
Blockchain has been heralded as a cutting-edge technology that will improve the contemporary supply chain structure by increasing supply chain trust, efficiency, and transparency. However, as promising as blockchain...more
When a company is formulating a blockchain solution to fill its supply chain needs, inevitably the decision must be made as to what type of blockchain is best suited for the project. Therefore, it is essential to have a...more
Managing the supply chain is one of the biggest challenges faced by modern-day global companies. These companies devote a tremendous amount of resources to investigating inefficiencies and identifying areas of cost...more
Throughout the series on “Blockchain in Supply Chain” we reference a number of important blockchain-related terms and concepts. Below is an initial list of blockchain terms used in the articles. We will add to this list as...more