Will Brexit affect your contracts?

Following the Brexit vote, businesses are entering an uncertain period, where the nature of the UK’s future relationship with the rest of Europe is unclear.

Our clients are telling us that they are focused on ‘business as usual’ in terms of both planned merger activity and commercial relationships. However, they are also wanting to prepare themselves as far as possible for the UK’s eventual exit from the EU, whatever precise form that may take.

All businesses trading with the EU will be affected. In particular, contracts for the supply or purchase of goods and services to or from the EU. Those whose pricing or risk allocation assumes trade free access, EU funding, harmonised regulatory, or licensing regimes will need to be assessed, as will provisions dependent on territorial EU-wide definitions.

Now is the time to start planning. If you would like to discuss a review of your contracts with Brexit in mind, please contact Colin Smith on 01494 478 605 or email cos@blasermills.co.uk.