Anne denied that it was liable to Atlantic as a result of non-availability of markets under the force majeure clause
, which read:
However, arguably every force majeure clause
should be unique - making sense in the business context of the particular contract and making a sensible allocation of the risks which may affect performance.
Every supplier and consumer of natural gas should review its natural gas supply agreements to see if they contain a force majeure clause
Force majeure clauses
enable a party to contractually avoid liability due to an irresistible, natural or unavoidable force.
Earlier IBRA and Pertamina rejected additional requirements demanded by JBIC, including guarantee in supply of low sulfur wax residue (LSWR) from Pertamina in 6 years in addition to force majeure clause
for a month.
These corporations are denied reliance on the contractual force majeure clause
because, in a fashion similar to piercing the corporate veil, they are regarded as an integral component of the state, which is responsible for the change of conditions in the host country.
Any force majeure clause
needs to be thought through in light of the duties and responsibilities of parties to the contract when a force majeure occurs.
The agreement signed in 2007 allowed either party to exit the agreement in extenuating circumstances beyond their control, such as UN sanctions, in what is called a force majeure clause
indicates that contingency clauses, such as the force majeure clause
says that those events trigger the force majeure clause
of the contract -- in other words, the losses were extraordinary and shouldn't be counted against the three-year loss provision.
A good force majeure clause
will protect against "acts of God, war, government regulation, disaster, fire, strikes, civil disorder, terrorist actions, curtailment of transportation facilities preventing or unreasonably delaying at least 25 percent of convention/meeting attendees and guests from appearing at the convention/meeting, or other similar cause beyond the control of the parties making it inadvisable or illegal to hold the convention/meeting or provide the facility.
It is understood rules can be relaxed under the force majeure clause
, which means work has been delayed due to unforeseen circumstances.