How each business deals with cancellations is their own individual commercial decision to make. There are no easy answers - we have seen a variety of responses across the industry so far, with people balancing their current needs with a longer-term view of securing good relationships for the future when things ease up again. However, if you receive a cancellation within your cancellation policy you are able to invoke the terms of your policy - if you wish. There are some things you should take into consideration:
The bottom line is that you must make the decision that is best for you and your business.
We have a force majeure clause in our agreements, can we use it now?
Yes, however, it depends on the wording. Lane Neave suggests seeking advice before looking to invoke one of these clauses.