The winners of the BDO sympathy award are revealed
03 April 2020
Last week, March 27th, the first BDO Law team's organized webinar "Effect of the COVID-19 epidemic on the fulfillment of contractual obligations" was successfully held.
In the webinar framework, BDO Law attorney of law Rolands Valdemars provided a detailed overview of the COVID-19 impact on contract performance, state aid mechanisms, and recommendations on the future construction of contract in case of emergency. In addition to the mentioned above, the following issues in the webinar were addressed:
- What is force majeure, and its impact on Contracts
- Pre-conditions to invoke the force majeure.
- Will COVID-19 trigger a force majeure clause?
- Restrictions imposed by the government and its effect on contracts from the force majeure point of view.
- The differences between force majeure and different consequences of contract performance difficulties.
- Classic examples of force majeure contract clauses and the problems it causes.
- Recommendation for an action plan if the contractual obligations can not be met or there are other issues to fulfill the obligations.
- State support mechanisms introduced for contract enforcement issues.
- Recommendations for terms adaption of future contracts (in case of emergency).
BDO Law partner Jānis Zelmenis participated in the questions and answers session part of the webinar.
The BDO Law team will continue actively monitor the COVID-19 impact and force majeure applicability on the business contracts, as well as inform and educate clients about the latest news that could make an impact on the Latvian entrepreneur's activities in this declared state of emergency.