Covid-19 has and for the foreseeable future will have unprecedented adverse impact on the global economy and all companies’ business operations. Government and banking systems throughout the world have initiated massive aid programs to blunt the impact of Covid-19.

Regardless, there will be substantial market disruptions including the supply and delivery of goods and services. Business relationships and contracts between sellers and buyers will be at the center of this disruption, from contract modifications or terminations, to breaches of contract, to the insolvency of contract counterparties. All companies should be proactive in protecting business and contractual relationships; and in minimizing risks and loss, based on practical use of their legal rights and remedies in navigating contract issues and in insolvency proceedings.

Originally published in the June 2020 issue of ICTF Magazine (The Association of International Credit and Trade Finance Professionals).