Theory of Unforeseen or Hardship

DOES YOUR COMPANY HAVE DOLLAR OBLIGATIONS?

IN THE FACE OF THE COVID-19 VIRUS HEALTH CONTINGENCY AND THE CURRENT CIRCUMSTANCES OF THE PESO, ARE YOU WORRIED THAT YOU WILL BE UNABLE TO MEET YOUR OBLIGATIONS DUE TO THE FLUCTUATION OF THE EXCHANGE RATE?

Mexican laws were amended in 2010, providing for the kind of extraordinary events of a national nature that could not be foreseen and that lead to more onerous obligations.

The amendment to the laws allows the disadvantaged party to initiate a procedure aimed at restoring the balance of the commercial relationship according to the terms and conditions that were originally intended to be agreed, and that were later modified by the simple updating of an extraordinary event as is the current health contingency by the virus COVID-19, the fall in the price of oil, and consequently the increase in the price of the Dollar.

The above modifications are better known in the legal field as the theory of unforeseen or “hardship”.

Find us and meet us. If you need the solution to a possible contingency DERIVED FROM A CONSIDERABLE INCREASE IN YOUR OBLIGATIONS AS A CONSEQUENCE OF THE INCREASE IN THE DOLLAR EXCHANGE RATE, the law grants you 30 days to start this process, starting from the change of circumstances.

Bandala, Díaz, García has extensive experience in legal, accounting and administrative matters.

LEGAL NOTICE

The main purpose of this information is to provide guidance to the general public. It does not replace the provisions of applicable law. Nor does it replace the specialized legal advice or consultancy that can be offered by any of the lawyers and/or accountants of Bandala | Díaz | García