The end of LIBOR is approaching. Panel banks may cease to make submissions as of the end of 2021 and LIBOR benchmarks may cease to be representative soon thereafter as a result. For transactions with a term beyond 2021, in order to achieve a predictable outcome and avoid litigation risks, parties should incorporate fallback clauses into the contracts. Such fallback clauses may be incorporated into legacy transactions by adherence to an ISDA Fallbacks Protocol to be published soon. Alternatively, parties may agree to fallback clauses in bilateral amendment agreements.