Will I need to make any changes to existing contracts as a result of Brexit? Brexit
Depending on the nature of the contract and the circumstances, it may be appropriate to initiate discussions with the other party to the contract in connection with specific points which need to be addressed with Brexit in mind.
For example, where the territorial scope of a contract is ‘the EU’, it should be clarified whether this includes the UK after Brexit.
Also, consider whether it is appropriate to seek to introduce express clauses to existing contracts dealing with which party should bear the burden of increased costs such as tariffs, customs clearance or changes in the rates of VAT, should this become an issue.
If you have any more questions regarding Brexit, please contact us today.