Transport, Shipping, and International Trade Web-course: “Protecting Business in Force Majeure. Contractual obligations and non-performance of contracts”
Force majeure circumstances are extraordinary and unavoidable circumstances that objectively make impossible to fulfill the obligations stipulated in the terms of the contract (contract, agreement, etc.), duties in accordance with legislative and other normative acts.
During the 10th Anniversary Webinar on the Transport, Shipping and International Trade Web-course, jointly with Interlegal experts, we discussed how to protect a business in terms of force majeure and what provisions to secure in the terms of the contract for this mechanism to be valid and aplicable to the parties to the contract. Also stoped on details of regulatory issues in Ukraine and the procedure for obtaining a force majeure certificate. In order for a force majeure clause to have the expected legal effect, it is necessary to be guided by the law of the country governing the legal relationship under the contract and to provide all the subtleties in formulating this clause.
We thank the speakers for relevant information, because during the quarantine, many companies were faced with the need to adjust their contracts in a temporary business environment. See you the next week!