This is an overview of recurring questions we currently receive from clients who have entered into contracts which provide for Austrian law as the law applicable to the contract and are now affected by the rapid spread of COVID- 19 and the impact of government responses which have caused unprecedented disruptions to business on a global scale.
This situation poses problems for many of our clients, especially in connection with contractual obligations and possible consequences of non-performance. For companies that are considering relying on force majeure clauses or statutory remedies to terminate or adjust contracts, or those anticipating that their contractual counter-parties may do so, we provide answers to key questions on what remedies are available under Austrian law.
Challenges and contract types vary between industries and have to be assessed individually. But this short Q&A can serve as a first guide to assess the next steps in dealing with business partners in the current situation.