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If the event ends and a party still can’t fulfill their obligations, the contract may be terminated or renegotiated. Think of it as deciding to call it quits if things just don’t work out.
The duration varies depending on the specific circumstances and the contract terms. It’s like waiting for a storm to pass before the sun shines again.
Absolutely! You can tailor your force majeure provisions to include specific events relevant to your situation. It's like customizing your sandwich to fit your taste.
Yes, usually you must inform other parties as soon as you realize you can’t fulfill the contract due to force majeure. It’s like sending a heads-up when you can’t make it to a meeting.
These provisions can delay or exempt a party from performing their obligations. If something unexpected happens, it’s like hitting the pause button on the contract.
Commonly included events are natural disasters like earthquakes and floods, war, strikes, or other disruptions that prevent fulfilling a contract. Think of it as nature or circumstances getting in the way.
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Anchorage Alaska Force Majeure Provisions - The UCC Model