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Force Majeure

   Also found in: Dictionary/thesaurus, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.

[French, A superior or irresistible power.] An event that is a result of the elements of nature, as opposed to one caused by human behavior.

The term force majeure relates to the law of insurance and is frequently used in construction contracts to protect the parties in the event that a segment of the contract cannot be performed due to causes that are outside the control of the parties, such as natural disasters, that could not be evaded through the exercise of due care.



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SPDC JV (Shell Petroleum Development Company) declared force majeure on Forcados offtake programme for the remainder of June and for July", effective June 16, the company said in a statement.
Qatargas had declared force majeure on shipments from the plant, the company added.
US oil group Chevron has declared force majeure, or the inability to meet delivery obligations, on exports from its Escravos oil terminal in Nigeria until the end of the year after a militant attack, a spokesman said Thursday.
 
 
 
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