Managing Supplier Credit Risk in a Cross-Border Sale of Goods Most sale of goods agreements involve a supplier extending credit to a purchaser, exposing the supplier to credit risk (i.e., the risk associated with the purchaser’s failure to fulfill its payment obligations). As the globalization of our economy continues, an increasing percentage of these agreements are being entered into by parties located in different countries. With this cross-border element added to the mix, supplier credit risk increases, oftentimes dramatically. This Practice Note presents several of the factors affecting supplier credit risk (with a focus on U.S. suppliers), along with recommended actions that may be taken in order to mitigate this risk. Governing Law and Judgment Enforceability When a U.S. supplier enters into a sale of goods agreement with a purchaser from a different country, the contract will most likely be governed by the United Nations Convention on Contracts for the Intern...
Paid Leave Benefits and the Emergency Relief Package By Jennifer Paley | Attorney and Writer On March 18 th , President Trump signed into law a 2 trillion-dollar coronavirus aid package. Among other things, the legislation provides paid family and sick leave for some, but not all, domestic workers affected by the virus, expands unemployment insurance assistance, increases resources for free testing, and includes nutrition-related assistance. The benefits will last until December 31, 2020. This is the first time in U.S. history that we will have comprehensive federally mandated paid leave, a much-needed benefit for those workers who have been forced to take some time off of work because of the pandemic. This assistance will cover many people who are not generally afforded such benefits, including the so-called “gig economy” workers and part-time employees. It will not, however, cover approximately half of all U.S. private-sector workers, including many employed by so...