The blockage of the Suez Canal by the giant Ever Given container ship underscores the importance of flexibility in supply chain contracts. With no viable alternative, billions of dollars of goods were held hostage for nearly a week by the beached freighter.
Flexibility is an important lesson learned from the Ever Given incident, just as it is from the Covid-19 pandemic. Supply chain lawyers are all too familiar with these types of catastrophes, and they overwhelmingly understand the need for creative approaches to ensure supplies of goods reach their destinations.
Let’s look at the results of a recent Bloomberg Law ...