Sergii Karasov, lawyer and project manager for international factoring, Faktoro, Lithuania, give us some hints on how to cover debtor non-payment risk based on force majeure.
In the light of the current crisis associated with the pandemic coronavirus (COVID-19), the receivables financing industry may face the increase of non-performance payment obligations risk from the debtor. Additionally, it is necessary to highlight the situation when supplying of goods or services will not be paid on time due to the fact that invoices have been issued on the ground of force majeure clause.
