The insolvency of a key supplier can have a significant (and potentially catastrophic) impact on a customer’s business. It can affect the customer’s ability to meet obligations it owes to its customers and other counterparties as well as regulatory requirements. All customers should ensure that they have robust internal processes
Continue Reading Managing Supplier Financial Distress – Contractual Protections for Customers
It is quite common to find wording in commercial contracts that seeks to “water down” an absolute requirement to do something to a qualified level of effort, with phrases such as ‘reasonable endeavours’ or ‘best efforts’ all too familiar to those negotiating contracts. It is, of course, important to understand
Continue Reading Navigating Contractual Commitment: Unveiling Effort Levels and Qualifying Phrases in Legal Obligations
