It is indeed common knowledge that there is a contagious virus spreading fast across the world today. The Corona virus also known as COVID-19 began in China towards the end of 2019 and quickly spread across the world affecting various countries and people irrespective of race, age, gender, ethnicity or social status. On March 11, the World Health Organization (W.H.O) officially declared COVID-19 a global pandemic. As at the date of this article, there have been 372,757 confirmed cases, as well as 16, 231 deaths across 194 countries1. In a bid to curtail the sporadic spread of the COVID-19 pandemic, several countries of the world are constrained to enforce a general lock down to the effect that its citizens must now remain at home or in isolation. This has no doubt had a ripple effect on commercial activities as a number of businesses were forced to shut down operations. In light of this, the performance of contractual obligations has no doubt been truncated. Supply contracts, construction contracts, simple contracts, even the servicing of a bond programme where performance may be hindered or has been rendered almost impossible to execute as a result of this outbreak comes to play. Read More
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