On 24 December 2020, the UK and EU agreed on the EU-UK Trade Agreement, removing the risks and uncertainty that would have come with a no-deal Brexit. Despite this, there’s no doubt that Brexit will still have an impact on individuals and business owners.
We outline the 5 documents you may need to protect your business from Brexit-related disruption:
- To prevent disruption to your supply chain, it may be beneficial to draw up a Business continuity plan. This should outline your emergency plans to keep your business operational in case of disruptions.
- Where your business has agreed to commercial contracts with EU-based suppliers, you may need to assign these contracts to other parties to avoid Brexit-related disruption.
- You may need to cancel contracts with EU based parties due to Brexit-related disruption.
- You may wish to amend the terms of your employment contracts to account for Brexit-related disruption.
- You may need a Force majeure letter to terminate a contract by relying on the ‘Force Majeure’ clause in your contract if a contract is impossible to fulfil.
For more information or to better understand some of the changes and how best to prepare your business for Brexit, read our Prepare your business for Brexit guide.