Brexit trigger, renegotiation and termination clauses | Practical Law

Brexit trigger, renegotiation and termination clauses | Practical Law

Long and short form clauses which introduce a right to renegotiate a contract if a trigger event occurs and to terminate if amendments cannot be agreed. Although the UK EU transition period has now ended, parties may still want to provide for the possible consequences of Brexit, where these are not yet fully clear

Brexit trigger, renegotiation and termination clauses

Practical Law UK Standard Clause w-007-5034 (Approx. 12 pages)

Brexit trigger, renegotiation and termination clauses

by Practical Law Commercial
Law stated as at 31 Dec 2021
Long and short form clauses which introduce a right to renegotiate a contract if a trigger event occurs and to terminate if amendments cannot be agreed. Although the UK EU transition period has now ended, parties may still want to provide for the possible consequences of Brexit, where these are not yet fully clear
Important:
These clauses are not suitable for all contracts and will not "Brexit-proof" any agreement. They suggest one possible approach to certain Brexit-related risks and, where used, will require tailoring.
Before using these clauses it is essential to read Practice note, Drafting for Brexit: Brexit clauses, which contains key information about assessing when they are suitable for use, their limitations and the risks of using them.