Multijurisdictional contracting pitfalls and trends
Global businesses often seek a streamlined approach to contracting by adopting standard contracts wherever they do business. This episode explores why local law differences should still be taken in account and how the type of contract can also be a factor in the degree to which a standard approach is possible. Differences in law are nothing new but recent global events have upset the balance of risk in many multinational contracts. Inflation, supply chain issues, geopolitical conflict, climate change and the rise of ESG considerations have attacked a balance often already under strain post COVID-19. Good contract drafting allows parties to adapt to these challenges. Strong governance mechanisms support flexibility for international contracts in particular, ensuring effective recourse should a dispute arise also becomes key.
In this episode Mark Dewar, Lauren Hurcombe and Khaled Dadi explore these issues from their jurisdictional perspectives in the UK, Asia and EU. Current contracting trends are flagged together with tips on how to avoid common pitfalls.
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