Although it’s obvious that some contracts simply cannot be executed because of what’s happening with the coronavirus, he said, courts are also generally reluctant to carry out force majeure clauses.
But before it even gets to that point, compromise is always better than legal action, especially if the parties involved want to do business together again in the future.
“Brands have leverage when this is all over, and venues, media owners, actors – everybody – will need help from brands to bring them back to life,” Wood said. “Don’t be penny-wise and pound-foolish right now; it’s really about relationship management.”
Rather than canceling a big TV media buy, for example, why not allow the network to donate that money to the Ad Council? And if a brand isn’t able to shoot an in-person commercial, there’s always the stock footage and voiceover option.
— Read on www.adexchanger.com/agencies/contracts-are-under-the-microscope-thanks-to-covid-19-but-force-majeure-isnt-a-cure-all/
COVID and Supply Chains 