Compliance against the Covid-19 Outbreak

The term Compliance has recently become popular in the business world, as it includes procedures and good practices that identify potential legal and operational risks that a company could face, which allows us to design a preventive model or, where appropriate, to react appropriately to any risk.

Mexico is currently in Phase 3 of the spread of COVID-19, a situation that affects the supply chain of companies, sometimes forcing them to change suppliers, therefore, the intervention of Compliance is essential to ensure effective evaluation processes, capable of responding with urgency and with a risk-based approach, during the search for new suppliers.

Given this situation it is essential to identify compliance obligations with local, state and federal authorities, as well as with the parties that are part of the company’s existing contracts, which could be affected by a possible interruption of operations due to the COVID-19 pandemic. Regardless of the above, if the procedure fails to prevent some consequences, it provides the companies with the necessary elements to prove that the necessary and reasonable steps were taken to continue the performance of their obligations.

We appreciate your interest in our content, we invite you to communicate with us in Bandala | Díaz | García we are ready to accompany you in the implementation of Compliance in your Company, and, in that way, avoid a risk or a future controversy.