Law firm launches audit service to identify Brexit risks

Law firm launches audit service to identify Brexit risks

Ed Cooke, the founder of Conexus Law.jpg

Conexus Law has introduced a Brexit contract management and audit service to support firms specialising in the built environment and tech to overcome unresolved issues following the trade deal.

Conexus said its new service can help organisations "manage any potential contract risks and assess existing contractual arrangements that may require attention to ensure continuity of commercially viable relationships post Brexit". 

The services include a full audit of all contracts including a review of standard terms and conditions, both signed and those under negotiation; any bespoke contracts with both suppliers and customers; and business contracts from operational areas such as IT, purchasing, product, sales and marketing, office services, facilities maintenance, logistics or outsourcing.

Ed Cooke, founder at Conexus Law, said: “Although The Christmas Eve Agreement gave some clarity, businesses continue to be faced with uncertainty. There are clear implications for many areas such as supply chains, imports and exports and employment that will affect the technology and datacentre sectors and our service will ensure full visibility of the commercial impact of Brexit on the business.”

Brexit will impact trade between the UK and global markets and between the EU and global markets, with likely increased customs and duty requirements and costs. All of this will be taken into account when setting the scope of the contract audit.

In addition to the initial services, advice will be given as to whether a contract has a mechanism or opportunity to exit or re-negotiate its terms should this be necessary. While the service will focus on arrangements with EU suppliers or customers, it can include the full suite of contracts globally, including UK to UK contracts and UK to non-EU contracts.