How can service providers and other vendors protect themselves as they navigate choppy economic waters? New business arrangements are never without risk, and the layer of uncertainty introduced by the coronavirus (COVID19) crisis has only compounded those concerns. Now more than ever, it is vital for vendors to protect their interests, as the economic effects of COVID-19 ripple through almost every industry. The more you know and the more you do to prepare upfront, the better situated you will be to successfully pilot these potential risks.
What are some of the best practices to implement regarding contracts with counterparties that will help lead to increased survival?
It’s key to be proactive about the rights you’d like to see. Hear more important takeaways >>Media Module - Datasource Item: Dealing with Financially Distressed Customers