The National Y2K Committee has submitted a Y2K Law to the Cabinet but it was turned down. What should a company do now to reduce the risk of being sued for Y2K problem?

To prepare oneself at this time, you should:

• Announce what you know about your Y2K problems in your own business, services and products. Provide information on how much you have done and what kind of effect still remains.


• Talk and discuss about Y2K problems with your major suppliers and customers to eliminate any misunderstanding and to establish cooperation.


• Re-read all contracts with suppliers and customers carefully. Have your own lawyer study the contracts and pin point how much liability you have and prepare for that.


• Speed up your Y2K remediation process.
• Announce your Y2K readiness to the public. However, make sure that your announcement is true.