Since the onset of COVID-19, organizations are reassessing their intercompany agreements to include Force Majeure clauses. If you are unfamiliar with Force Majeure, read our previous blog for more information. Force Majeure is an “Act of God” clause that allows involved parties to renegotiate or terminate an agreement if an unforeseen or unpredictable event occurs.
As COVID-19 continues to shift everyday life and the global economy, accounting professionals are looking for information to help guide their clients through these trying times. These organizations will lean on their in-house experience and should pay close attention to the lessons learned during the 2008 market crisis. Force Majeure is a clause included within