The Civil Transactions Law came into force in December 2023, bringing the general rules on contracts and obligations together in a single codified text. That means more clarity and predictability, but it also means some older drafting may need revisiting.
Clauses worth reviewing
- Liquidated damages (penalty clauses) and the limits on adjusting them.
- Exceptional circumstances and their effect on performance.
- Exclusion and limitation of liability clauses.
- Limitation periods for bringing claims.
What to do now
Review your recurring contract templates, such as supply, services and lease agreements, to make sure their key clauses are consistent with the law and actually achieve what you intend. One review of a recurring template protects you across dozens of contracts.
Content on this website is provided for general information only and does not constitute legal advice. Contact us for advice on your specific situation.