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Brexit contractual risk analysis and changes delivery

As the date for UK withdrawal from the European Union gets nearer, managing risk exposure resulting from Brexit becomes ever more crucial. Whilst the precise nature of the UK’s future relationship with the EU and the impact this will have on business and trading arrangements is currently unknown, it’s not too late to assess trading relationships that have assumed EU integration and to future proof them against inevitable changes.

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Risk analysis

We can help you understand the potential risks to your trading arrangements arising from Brexit (whether pricing, currency, regulatory, territorial, tariff, people, data or otherwise) and suggest measures to put in place to protect against or mitigate those risks.

Our Brexit Risk Analysis comprises a six-stage process which can be tailored to your business needs. As well as manual reviews of contracts, we offer, wherever possible, the use of advanced contract review technology to provide visibility of key provisions that expose your business to risk. This enables the development of a remediation strategy: Brexit proofing.

1. Scoping your needs

We will initially scope your risks and requirements to focus on the key areas of risk for your business and create an agreed risk profile.

2. Contract identification

We can use artificial intelligence techniques to aid the selection of contracts that need further analysis to extract key terms.

3. Contractual risk analysis

We will review selected contracts to evaluate how risks arising from Brexit are addressed.

4. Brexit proofing

Building on our Contractual Risk Analysis, we will suggest strategies to mitigate the risks inherent in your trading arrangements.

5. Brexit resource

If further resource is required “in-house” by our clients to support Brexit-related work, they can draw upon our contract resource business (ES Agile) to provide legal and/or project management support at all levels.

6. Brexit repapering

Brexit may give rise to major repapering of terms and conditions. Our managed service (ES Ignite) can assist with high volume contract remediation by deploying the latest robotic technology, resource at appropriate levels and highly efficient processes to manage outreach from initial contact through negotiation to completion and archiving.

Delivery

In addition to our sophisticated Brexit Risk Analysis to help define the risks and an appropriate strategy for these, we can also assist with implementation of change, whether through the need for additional “in-house” resource or the outsourcing of repapering work leveraging our highly developed processes and technology.

What happens next?

We are one of 9 firms awarded Tier 1 status for our legal advice by the Legal 500, a go-to firm for Brexit contingency planning and legal advice, monitoring of developments and client and industry specific briefings.

For further information, please contact our Brexit team.