Price Revision for Supply Agreements
Contract Price Revisions
Against the backdrop of the Covid-19 pandemic and now the Russian invasion of Ukraine, unprecedented global demand for raw materials and skyrocketing energy and transport prices are having a considerable impact on supply contracts and the prices agreed therein, putting suppliers under intense cost pressure. Suppliers are also increasingly facing demands for price increases from their own subsuppliers. As a consequence, many suppliers are seeking to renegotiate their supply contracts with their customers in order to avoid heavily reduced profit margins or even losses.
The present info flash lists some points of attention for suppliers bound by supply contracts governed by Belgian law who are considering to seek a price revision.