Coronavirus risks and losses can be significantly reduced

Under existing FEA contracts, risks and losses due to coronavirus can be significantly reduced. This was stated in the CCI of Ukraine at the webinar “Foreign economic activity in the aspect of the problems associated with the spread of the coronavirus COVID-19.”

Under current FEA contracts, the risks and losses associated with the coronavirus can be significantly reduced if an additional agreement is agreed upon with the counterparty, in which it revises and agrees, if necessary, the relevant conditions for the delivery of goods, their cost, settlements, etc. in new circumstances, the implementation of foreign economic activity.

You also need to carefully consider the issues of confirmation of force majeure circumstances, having transferred measures to overcome the consequences in the appropriate section.

“Thank you for the informative reports at the webinar to the Director of the Department of Economic Diplomacy of the Ministry of Foreign Affairs of Ukraine Volodymyr Khomants, Advisor to the President of the ASMAP of Ukraine Konstantin Savchenko, Assistant to the Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Dmitry Mykhaylenko, Director to the Legal Support Directorate of the CCI of Ukraine Alla Nesterenko, Advisor to the Chairman of the ICAC under the Ukrainian CCI Olga Kostyshina, ”said the chairman of the Association of Exporters and Importers of ZED Sergey Svistil.

The webinar was organized by the Ukrainian CCI and the ZED Association of Exporters and Importers.

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