The covid-19 (Sars-Cov-2) pandemic and its effect on the performance of contractual obligations

Following the announcements made on 11th March and 13th March 2020 by the World Health Organization (WHO), according to which the outbreak of coronavirus (Sars-Cov-2) was recognized as a global pandemic and since Europe was declared as its current epicenter, more and more European Countries enter into ‘lockdown’ mode with a view to limit the transmission of the virus and lessen its consequences. In most countries the private sector has also responded responsibly by adopting working from home policies. Due to the socioeconomic consequences of this pandemic, many questions have been raised regarding the potential effect of the coronavirus pandemic on the performance of contractual obligations and especially, whether it constitutes a ‘force majeure’ event.