Concept Note 2 on the effect of the 2020 pandemic on commercial contracts - September 2020 Update
Following the introduction of the initial concept note BIICL has released and updated version of Concept Note 2.
Concept Note 2 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.
