COVID-19: Check your contracts and talk to your business partners

A compact guidance from Taylor Wessing Czech Republic on how to approach business difficulties resulting from the corona crisis.

Your business is affected by COVID-19 pandemic

Can your contract be renegotiated due to substantial change of circumstances?

You may be released from liability for damages. Have it checked!

Is your capability to perform objectively affected by the pandemic?

You may be released from liability for damages. Have it checked!

Is the performance of your contract frustrated at all?

Contract may be void. Have it checked!

Are there clauses in your contract dealing with the situation such as MAC, etc.?

Have them checked!

Does your insurance cover pandemic circumstances?

Talk to your broker!

Can you apply for governmental subsidies or make recourse against the state?

Do it!

If the answer is "no" to any of the above, talk to your business partner.

View our full PDF here.