As COVID-19 and different measures applied worldwide have affected many businesses, it may open a possibility to apply certain legal tools in the contractual relations. According to the law, the contract shall be amended if the performance of contract does not comply with the principles of justice, reasonableness and fairness due to a substantial change of circumstances. The current situation, when certain businesses are temporarily closed, or has to reorganize their work from home, or are otherwise affected due to COVID-19 situation, might qualify for such substantial change of circumstances. That opens a possibility to review the amount rent payments or lease term, payment and delivery terms of goods, pricing and performance of other contractual obligations. If the other party does not agree to change the contract, it is possible to apply to the court with such a request. Also, in certain cases the situation might even qualify for force majeure.
IMPORTANT! Each case shall be revised and decided individually, and there is no universal solution.