Impact of the Covid-19 Pandemic on the Fulfillment of International Trade
Contract Rights and Obligations on Steel Companies. As a result of the covid-19
pandemic that occurred at the end of 2019 impacted various sectors, one of which
was the international trade sector. International trade activities are hampered by
the covid-19 pandemic which also results in the implementation and fulfillment of
sales contracts that have been agreed before the covid-19 pandemic, especially in
sales contracts between steel companies and factories. Steel companies and
factories have difficulty in fulfilling the rights and obligations contained in the
contract due to policies issued by the government to suppress the spread of covid-
19 such as lockdown and PSBB policies. The covid-19 pandemic that occurred is a
relative force majeure in which case the parties to the agreement can delay the
implementation or fulfillment of rights and obligations temporarily. Steel
companies and factories are taking steps to address the covid-19 pandemic by
holding previously agreed contracts until prices are returned to normal and
renegotiating contracts, one of which is extending the time in payment and
extending the time in delivery.