Printing Contract With Force Majeure Clause
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FAQ
Either Party shall be excused from performance and shall not be in default in respect of any obligation hereunder to the extent that the failure to perform such obligation is due to a Natural Force Majeure Event.
Force Majeure is a French term that means ?greater force?. It is a concept derived from an act of God. It is included as a separate term in shipping contracts to discharge participants from fulfilling obligations in case of external, unforeseeable, and unavoidable catastrophes interrupting the regular course of events.
Force majeure clause samples 10.2 The Party affected by Force Majeure shall not assume any liability under this Agreement. ... Section 15.12 Force Majeure. ... 6.4 If the agreement cannot be performed due to force majeure, the responsibility shall be exempted in part or in whole ing to the influence of force majeure.
Force majeure clauses serve as vital provisions in contracts, offering relief to parties when unforeseen events hinder their ability to fulfil contractual obligations. By including these clauses, parties can mitigate the risks associated with circumstances beyond their control.
The party affected by force majeure is usually obligated to provide prompt written notice to the counterparty of the occurrence of the force majeure event (in reasonable detail) and the expected duration of the event's effect on the party.