COVID-19 impact on goods and service providers in financial difficulty
A checklist of some questions to consider if a goods or service provider gets into difficulty.
Almost all organisations have external service providers facilitating their business. This can affect a vast range of services including IT, data processing, finance and accounting functions, security, payroll, cleaning and catering.
A result of COVID-19 is that an increasing number of organisations will face the situation in which a third party provider (whether a provider of goods or services) encounters financial difficulties.
Our checklist sets out:
- some of the questions to consider if a provider does get into difficulty, and
- possible steps that you can take in advance to best protect your position should the situation arise.
See our Coronavirus (COVID-19) feature for more information generally on the possible legal implications of COVID-19.
