The article addresses the concerns of many business owners on how to handle their contractual relationships when they are shut down or their workforces are reduced due to COVID-19. Jerauld describes that they are advising clients to negotiate a resolution if they can’t perform their contracts due to coronavirus whether they are a provider or recipient of services or a manufacturer or recipient of goods. “The wrong strategy to resolve this is to litigate it,” He says. “If you have cash flow problems, you’re not going to save money by going to court. The best advice is to get on the phone with your counterparty and their counsel.”
To view the article on the Rochester Business Journal website, click here.