Brexit: an opportunity or a disaster? Currently on 31 October 2019, the UK will leave the EU.
Leaving the EU will affect some of your existing contracts. It may affect future contracts you plan to sign. In preparation, you should be thinking about the following points.
Existing business contracts
You need to identify those existing contracts which are important for your business and consider:
The other party
You should consider also what the effect of Brexit will be on the other party to your key business contracts. Indeed all the issues set out here should also be considered from the other party’s position.
You should therefore consider how to de-risk breach by the other party of a particular contract. This will involve considering the consequences of termination clauses in the contract, together with your or the other party’s terms and conditions of sale of goods, or supply of services, or terms and conditions on which you buy goods or receive services.
To discuss these issues and for concise legal advice, please contact Stephen Sidkin.
Other notes in this series are:
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