Bankruptcy/Recession Planning — General Commercial
Using Zuva, organizations can easily assess their options and exposure under commercial agreements in response to challenging economic conditions. Zuva can quickly identify parties’ respective termination options, as well as force majeure and hardship provisions that outline the parties’ rights in the event unforeseen circumstances arise. In the bankruptcy context, debtors and trustees can efficiently assess performance obligations under these contracts to determine whether they are “”executory contracts”” for bankruptcy purposes. In addition, they can determine the term of these contracts, their economic value, the existence of any continuing defaults and the cost of remedying them.
The smart fields in this group are optimized for use on service, supply, distribution and license agreements.
The 74 fields included in this group include (but are not limited to):
- Liability on Termination
- Limitation of Liability
- Minimum Purchase Amounts
- Performance Obligation — Services
- Performance Obligation — Supplies, Purchases and Sales
- Purchase Order Changes/Cancellation
- Termination for Convenience
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