COVID-19 Resource Center - Heretik

REACTING & RECOVERING

COVID-19
Resource Center

Over the next several months, businesses will continue to shift from a reactionary phase to one of recovery. The first step to making the actual first step in organizational recovery is to understand the risks and obligations within current agreements. Structuring that contract data will allow for quicker and more intelligent decision making in the short-term, while creating a foundation for strategic crisis management in the long term.

We stand ready to help

The world is still learning many lessons from the COVID-19 Pandemic, some that will change the global economy forever. One thing that will remain true is that a robust contract management strategy paired with reliable technology can get businesses through unprecedented times without killing deals or thwarting operational oversight.

We’ve organized resources to help you quickly find more information about how our contract review solution can help you and your clients make smarter, faster, and more favorable decisions in this unprecedented time. As the COVID-19 Pandemic continues to evolve, we are prioritizing building and adding more resources here for you and your firm.

If you would like to be the first to receive upcoming COVID-19 content and materials, please make sure you are subscribed to Heretik here.

On this page, you'll find:

Our most prevalent use case overviews
Downloadable use case demo packages
On-demand workflow & capability video overviews
Recent content and case studies
Heretik and Relativity technical resources
Approved Heretik partners ready to provide legal services and solutions

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Force Majeure Analysis

Until recently, force majeure clauses have been a simple box to check while drafting and negotiating contracts. Unfortunately, most companies are not prepared to react, let alone recover, from a force majeure event.

Crumbling supply chains, unpredictable production schedules and halted logistics operations are forcing companies to make extremely tough decisions very quickly. Many companies are beginning to fall behind on their contractual obligations, and for the first-time, investigating force majeure and related contract provisions that could provide some relief for one or both parties.

Our use case package available to clients includes:

Overview Slides
Click-thru Guide
Demo Document Set
.RAP File Demo

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Business Interruption Insurance

Non-essential businesses of all sizes have had to scale back or shut down completely to weather the economic turbulence from the COVID-19 Pandemic. While many of these companies have several seemingly relevant business interruption insurance policies in place, the terms around actual coverage eligibility is now a massive gray area.

In addition to reviewing pandemic-specific clauses or language, it is imperative to also understand other hidden coverages often buried in these plans. While many policies explicitly exclude ’communicable diseases’, other clauses (such as Civil Liberty) may override that.

Our use case package available to clients includes:

Overview Slides
Click-thru Guide
Demo Document Set
.RAP File Demo

Real Estate Compliance

The commercial, industrial, and residential real estate markets have been hit hard by the COVID-19 Pandemic. Tenants are struggling to pay their rent or mortgages, developers are facing crippling construction delays, and investors are losing millions by the minute.

We’ve seen a tidal wave of new government regulation (on all levels — local, state, and federal) in attempt to preserve a once booming real estate economy. Navigating these regulations quickly and at scale can be not only overwhelming, but dangerous for property owners and operators. Having a clear and defensible understanding of what’s in these agreements is now more critical than ever.

Our use case package available to clients includes:

Overview Slides
Click-thru Guide
Demo Document Set
.RAP File Demo

Event Cancellation Insurance

With extreme travel restrictions and government-mandated quarantines, the event industry was one of the first to fall. Event organizers have been forced to either attempt to shift digitally, postpone, or entirely cancel their events, leaving billions of dollars and jobs lost.

Similar to business interruption insurance, a swift and strategic review of event cancellation policies is essential for companies to minimize event losses. Structuring policy data such as definitions, liabilities, obligations, timelines, and more allows companies to rightfully maximize coverage, find hidden coverages, and have a leg up on new policy negotiations.

Our use case package available to clients includes:

Overview Slides
Click-thru Guide
Demo Document Set
.RAP File Demo

Bankruptcy and Restructuring

With the projected $3.5 trillion loss in the global GDP and continued economic uncertainty, we are seeing companies from all industries begin to file for Chapter 11 bankruptcy for more immediate financial relief.

Heretik can be used to sort and analyze all sorts of financial documents while simultaneously structuring data around names, addresses, monetary values, company assets, and more. In addition, all these documents and data points get grouped and linked together in one platform, streamlining the review process.

Our use case package available to clients includes:

Overview Slides
Click-thru Guide
Demo Document Set
.RAP File Demo

13 Industries Hit Hardest by COVID-19

Here's how analysts have projected impacts of thirteen industries that have been hit hardest by the COVID-19 Pandemic, as well as how they are already starting to transform as a result.

How Gravity Stack helped a multi-national electronics corporation look beyond their force majeure provisions in less than a day with Heretik

Having an existing data intelligence partner like Gravity Stack readily available (and already structuring this clients’ contracts) allowed them to instantly and intelligently pivot their diligence project. In less than a day, they provided their client actionable data that will ultimately save them millions of dollars while also minimizing impacts to their business and team, now and for the remainder of this unforeseeable event.

The future of force majeure: 4 things companies will now consider while drafting and negotiating contracts

While the COVID-19 Pandemic is now the most notable global force majeure event in modern history, it certainly was not the first. In this post, we’ll take a look back at how and when the first force majeure clause came to be, its evolution over the years, as well as some of our predictions on how drafting and negotiating this clause will change post-COVID-19.

COVID-19 Business Impacts: Do You Know What Your Contracts Say About Force Majeure?

CDS Contract Review and Analysis leverages Heretik’s document review software which allows for contract segmentation to effectively focus on the force majeure language in question with a level of efficiency that human review alone cannot achieve. Using their proprietary workflow in conjunction with CDS Secure, Socially Distanced Managed Review, their highly experienced lawyer-technologists work closely with counsel to understand a party’s exposure under a certain contract. Compiling contracts by jurisdiction allows counsel to provide a full picture of your business’ liability during and after the pandemic.

How Ricoh is Addressing Client's Contract Concerns Related to COVID-19

Ricoh's Contract Analysis workflows, powered by Heretik, provide out-of-the box force majeure algorithms, and are a formidable tool we are using to manage this crisis. Their clients are able to classify contracts by type, segment clauses, extract vital information, and identify force majeure clauses — all in minutes and without any manual work.

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More resources

We stay committed to helping our clients be successful with our software. Here are some of our resources that are readily available for your team.

If you are a client that needs access to any of these resources, please reach out to support@heretik.com.

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