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Read the contract!

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EU export threat

According to the BBC The EU is threatening to withhold vaccine supplies to other countries. Why should supplies of vaccines made in the EU be exported to other countries when those same companies can’t supply the EU?

The answer seems to be in the small print of the contracts.

The UK Contract

In the UK contracts, signed early on, mostly paid upfront, at a premium price, and to be paid even if the vaccine didn’t work, we specified delivery dates or schedule.

The EU Contract

In the EU contracts, signed at the last minute, to be paid on delivery, at a bargain price, but not if the order was taken up, they just specied a quantity to be delivered with no schedule.

So which contact is better

I know if I was a Supplier of vaccines, I know which customer I would rather support. Of course I am slightly simplifying the argument, but then so is the EU!

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