Impact of Supply Chain Strains Now Showing in Contract Language
Closer attention to contracting terms comes as commodity costs and shipping prices have soared. Persistent disruptions across supply chains have overwhelmed the guideposts in many supplier agreements, leading to conflicts over how to account for rising costs and delivery breakdowns. Declarations of force majeure allowing suppliers to be excused from contract terms have skyrocketed, some companies want such language to be fine-tuned. Read more about it here.