The UK is facing a potentially costly divorce bill over its ‘readjustment’ to their involvement in the Galileo project post Brexit. Galileo is a European satellite constellation which, when complete in 2020, will be an alternative to the US Global Positioning System (GPS) network.
At the moment the UK’s options are somewhat limited as the EU Commission has stated that the world leading UK space industry may be frozen out of future work on the programme as a result of Brexit.
As unfortunate as that prospect is it brings in to focus the need to always have considered all exit possibility options when entering into new contractual agreements.
Our consultants are expert at understanding complex contract exit risks and ensuring that these are prepared for, or mitigated, within the procurement contracting process. It is key that this happens during the initial negotiations, not when you are serving notice of termination (agree your prenuptials before you wed, not when you’re getting a divorce).
Contact us today to discuss your procurement requirements and how to avoid costly “divorce” bills if you have to disengage with suppliers.
