Rethinking contract management across international value chains in light of law, technology and polycrisis

International trade has long been considered the cornerstone of economic development and social stability. It can significantly contribute to maintaining peaceful relations among states and improve the livelihood of multitudes. However, in the last years external shocks such as political unrest, natural disasters, epidemics and armed conflict have significantly disrupted international trade. Some of these events are natural, while others are man made.

These events are not new and have been dealt with in business for centuries, including through appropriate legal tools. Yet their occurrence is increasing to the point that the notion of a "polycrisis", ie the recurrence of multiple adverse economic factors, has become the defining feature of current times. ¹