As COVID-19 changes the work landscape for most companies, organizations are forced to revisit various contracts. These contracts need to be analyzed to determine what revisions need to be made to change any necessary performance requirements. These concepts often fall under the force majeure provisions of contracts that live within simple boilerplates and are often overlooked.
Tyler Marion, Michael Stevens and Rich Vestuto, Managing Directors in the Legal Management Consulting practice at Duff & Phelps, published an article with LegalTech News discussing various contract risks that have emerged during the COVID-19 pandemic as organizations adjusts to a “new normal.” Tyler, Michael and Rich outline key areas to consider when analyzing and reviewing contracts, including scoping, extraction and negotiation. The three highlight the need for optimizing the contract management process in order to successfully adapt to new risks and challenges that may arise in a post-COVID work landscape.
