This form provides a model boilerplate Force Majeure clause for contracts based on the Uniform Commercial Code (UCC).
Oklahoma Force Mature Provisions — The UCC Model refers to the legal clauses incorporated in contracts that allow parties to suspend or terminate their obligations if unforeseen events or circumstances beyond their control render the performance impossible or impractical. These provisions provide protection to parties when faced with events like natural disasters, governmental actions, or labor strikes that hinder their ability to fulfill contractual duties. The UCC Model refers to the Uniform Commercial Code, a standard set of laws governing commercial transactions in the United States. It provides guidance on various aspects of business dealings, including force majeure provisions. By adopting the UCC Model, Oklahoma ensures consistency and clarity within its statutory framework for force majeure provisions. In Oklahoma, there are different types of force majeure provisions that can be included in contracts: 1. Comprehensive Force Mature Provisions: These provisions provide broad protection by encompassing a wide range of events or circumstances that may hinder performance. They may include language such as "acts of God," strikes, riots, accidents, or any other events beyond the parties' control. 2. Limited Force Mature Provisions: These provisions provide protection for specific events or circumstances explicitly outlined in the contract. For example, a contract may specify force majeure for natural disasters but not for labor strikes. 3. Excused Performance Provisions: These provisions allow a party to temporarily suspend or delay performance until the force majeure event passes without necessarily terminating the contract. This provision could be beneficial in situations where the event causing the impossibility is temporary. 4. Termination Provisions: In some cases, force majeure provisions permit parties to terminate the contract entirely if the force majeure event continues for a prolonged period, making performance permanently impossible. It is crucial for parties engaging in contractual arrangements to carefully draft and negotiate force majeure provisions to ensure their interests are adequately protected. Understanding the Oklahoma Force Mature Provisions — The UCC Model is vital for businesses operating within the state to navigate unforeseen circumstances and potential disputes.
