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BIICL Publishes Concept Note 2

"Breathing space" Concept Note 2 on the effect of the 2020 pandemic on commercial contracts

Following its recent call for Breathing Space, BIICL has released Concept Note 2  which shows in detail which steps should be taken to minimise the risk of a deluge of disputes and to increase the prospect of constructive outcomes.

Concept Note 2 argues, among other things, that the best policy approach in the case of many contracts is for the law:

  • To support negotiated solutions to make viable contracts blighted by the pandemic work;
  • To bring contracts made unviable by the pandemic to an end in an equitable manner;
  • Where negotiation fails, to encourage parties to undertake mediation or other alternative dispute resolution methods;
  • Where court proceedings are needed and cannot be safely carried on in person, to encourage online hearings - these will have a much more important role in the future even when no longer necessary for health reasons, and will help to avoid a backlog of cases clogging up the system.     

    
Read Concept Note 1   |   Read the press release   

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