With Brexit approaching on 29 March 2019, business continuity may be put at risk for reasons including "cliff-edge" loss of market access rights. One of the ways businesses are dealing with this is by 're-papering' contracts: ie risk-assessing, amending and/or migrating contracts.
Webinar: Nine months to Brexit – what is happening and how can business prepare? July 3, 2018, 11am UTC
Do you need to re-paper your contracts?
As the deadline approaches, ensuring continuity of operations may require your business to amend or migrate contracts for any of the following reasons:
1. To enable continued supply of goods or services
Authorisations to provide goods or services to the EU from the UK (or vice versa) may need to be obtained and held by an EU or UK entity. This may require contracts to be amended or migrated to the authorised entity.
2. To support business relocation or contingency plans
Businesses planning to transfer all or some of their business operations, offices and/or personnel from the UK to EU hubs or vice versa may need to ensure any new locations benefit from existing service and supply arrangements. This may require contract migration or amendment to add new service beneficiaries.
3. To avoid unintended or undesirable contractual consequences
Contracts may need to be amended to fix provisions which might unintentionally be triggered by Brexit (eg termination rights) or which would otherwise become ineffective or uncertain post-Brexit (eg definitions or terms assuming the UK to be part of the EU).
Quality assured, costs controlled, deadlines met
We combine a global team of leading Brexit experts across all practices and sectors with our integrated low cost Alternative Legal Services (ALT) offering aided by cutting-edge technology and process improvement techniques.
Our market-leading ALT capability means we are exceptionally well placed to design and implement time-efficient, value for money Brexit re-papering projects.
We have extensive experience:
- designing robust process-driven re-papering strategies
- conducting gap analyses to assess the extent to which contracts require amendment as a result of Brexit
- building key tools and playbooks to undertake successful re-paperings
- negotiating with counterparties on clients' behalf as part of re-papering exercises providing end-to-end project management for re-paperings
- providing seamless round-the-clock service to achieve speed of delivery and efficiency
We can also provide clients with a secure dedicated online portal to manage all relevant documents, latest drafts and real time tracking of progress and costs.