With the Brexit deadline approaching in less than two months, it is important for businesses to anticipate the impact of Brexit on their contractual relationships with their trading partners. The UK's departure from the EU – be it with a deal or none – will result in a process of disentangling the UK from a number of EU legislations.
The current EU legislation provides for a framework that deals with important issues of State court jurisdiction, governing law and a party's right to seek enforcement of a judgment. Some of these regulations apply in circumstances where a party is not legally incorporated or a citizen of a EU member state. As a result, Brexit will likely have an impact on Chinese and multinational companies with commercial interests in the EU or the UK.
In addition, there is a risk that Brexit will affect a party's ability to fulfil its contractual obligations for a myriad of reasons including hardships due to fluctuation in currency exchange rates, regulatory or customs control changes.
Please join us at this upcoming Breakfast Briefing as senior partners from the international law firm of Herbert Smith Freehills share their insight and practical tips on what businesses can do to anticipate the risks that will likely affect their contractual relationships in a post-Brexit world.