Manufacturing journalist, TR Cutler sees force majeure implications on the supply chain for buyers and sellers during COVID-19 pandemic. The anticipated risks and impact of the coronavirus outbreak on the supply chain industry cannot be overestimated.
According to Cutler, legal questions are of particular relevance to companies with supply chain-focused issues. Both manufacturers and distributors need to know if force majeure clauses are enforceable. Many are asking how to defend contract performance without force majeure clauses as well as understanding the scope.
Understanding the impact of take-or-pay or non-cancellation clauses for excusal of contract performance is vital. Additionally, the impact of price-adjustment contract formulas on excusal of contract performance change daily.
Several manufacturers need to know what circumstances constitutes impracticability of performance under UCC Article 2 and when do the contract doctrines of frustration of purpose or impossibility of performance apply.
Buyers’ remedies for non-performance if force majeure or impracticability applies, need to be known as well as sellers’ remedies.
Supply chain professionals must closely monitor leading health authorities, worldwide economic markets, global and national governments as well as business advisors, agency directives, community impact to be aware and armed with knowledge.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 21-year anniversary of the Manufacturing Media Consortium.
During COVID-19 Cutler is advising manufacturers, industrial leaders, supply chain professionals, and C-level executives how to best navigate Q2 2020, to have an amazing pipeline of sales and sales content for Q3 2020 and beyond.
Cutler has authored more than 7,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4200 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
Company Name: TR Cutler Inc.
Contact Person: Thomas R. Cutler
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Address:3032 S. Oakland Forest Dr. S-2803 Unit 2803
City: Fort Lauderdale
Country: United States