Governing law and dispute resolution clauses are often copied from earlier contracts. As a business and its counterparties change, a governing law clause that once made sense may no longer fit.
What to check
- Whether the chosen law still suits the parties and the transaction
- Where the counterparty and its assets are located
- How and where a decision could be enforced
- Whether the dispute resolution mechanism is clear and workable
When to review
A review is worth considering when a contract is renewed, when a new counterparty or jurisdiction is involved, or when the business model changes.
This note is for general information only and does not constitute legal advice.
