FORCE MAJEURE IN EXPORTS TRADE

Force majeure is a French phrase which means superior force or overwhelming circumstances. It is also sometimes referred to as “acts of God” that is events that are beyond our natural control.

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Most contracts contain the force majeure clause. This clause typically allows a party to the contract to temporarily suspend or permanently terminate the performance of its obligations under a contract because of the occurrence of a force majeure event without being liable for not fulfilling the contract.

Force majeure events include fire, flood, earthquake, war, riots, lightning, explosion, strikes, and state or governmental action which prevents a party from playing its part under the contract.

For an event to be considered force majeure, we have to be able to ascertain that;

– The event is external to the contract and the parties involved.

– The event was unforeseeable.

– The occurrence of the event was beyond the control of the party seeking to use force majeure as an excuse for non-performance.

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In the very few days of 2020, we have witnessed some remarkable force majeure events around the world; bush fires in Australia, earthquakes in Puerto Rico, floods in Indonesia & Pakistan and severe storms & tornadoes in the US.

It becomes very critical to look over your contracts carefully to ascertain that it contains a force majeure clause and most importantly the provisions of the clause in the event of force majeure.