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FORCE MAJEURE CLAUSE
Kuwait declares force majeure on oil shipments amid Hormuz blockadeKuwait has declared force majeure on its crude oil and refined product shipments. This action follows a blockade of the Strait of Hormuz. T...- Gujarat Gas rises 7% after Nomura upgrade. Is the Iran war a buying opportunity?Gujarat Gas shares saw a significant jump after a major brokerage upgraded the stock. The US-Iran conflict is creating supply chain disrupt...
- What does force majeure mean? Why Bahrain’s Bapco declared it amid rising crude oil prices and can it disrupt the global oil supply?Bahrain's state oil company, now under Bapco Energies, has declared force majeure for its shipments after an Iranian attack set its refiner...
- Word of the day: Force MajeureForce majeure is a legal term used in business contracts. It talks about sudden and uncontrollable events like war, floods, earthquakes, or...
- Can builders invoke force majeure clause to delay possession? Know what RERA saysReal estate developers can use "force majeure", or situations beyond their control, to justify inordinate delays in giving possession to ho...
- Force Majeure: How successful has the law been post Covid in IndiaLaw relating to force majeure is quite settled and one requirement of law that when the contract itself provides for the force majeure and ...
- What is force majeure? The legal term everyone should know during Covid-19 crisisThe term that has assumed relevance in contractual context today for businesses is “force majeure”.
- Covid-19 impact: Use of ‘force majeure’ to exit deals to hit companies' financialsUnlike under the previous accounting standards, companies are now required to capitalise several of their earlier expenses, including lease...
- How and when the force majeure clause can protect financial contractsThe force majeure clause includes the phrase ‘act of god’ to mean situations that are uncontrolled by human intervention and could not have...
- Lawyers redraw rent agreements with new ‘lockdown’ clause after 'disputes' over paymentThe new agreements are being drafted for both residential and commercial properties as both -- property owners and tenants -- seek clarity ...
- Real estate agents focus on reskillingWith no commercial or residential deals closing due to the lockdown, agents are keen to learn about the intricacies of social media marketi...
- Force majeure clause won't apply to coronavirus death claims in life insurance policiesThe Council also confirmed that the clause of ‘Force Majeure’ will not apply in case of COVID-19 death claims. This step was taken to reass...
- Power companies explore legal options in payment clauseThe Central Electricity Regulatory Commission (CERC) in the Friday order decreased late payment surcharge (LPS) payable by discoms to gener...
- Oyo suspends payments to hotels; Partners say clause not in contractOyo stated in the letter that since hotel revenues have dwindled and are unlikely to improve in the next few months it is constrained to ex...
- Discoms can't invoke force majeure: GencosLockdown no excuse as it doesn’t impact utilities, say power producers. The Central Electricity Regulatory Commission is expected to issue ...
- Covid-19 impact: Multiplexes call for rent suspensionSources across cinema chains have confirmed to ET that they had individually written to the landlords and mall owners seeking waiver of ren...
- How coronavirus may cause legal wranglesUnlike few nations where the term is coded in civil laws, the Indian Contract Act is silent on 'force majeure'.
- Some Indian ports declare force majeure, could delay crude discharge:D ocuments, sourcesThe federal shipping ministry has issued a letter allowing ports to use the COVID-19 pandemic as valid grounds to declare force majeure cla...
- Covid-19: Companies look for ways to exit pactsUnable to fulfil commitments, companies review contracts to see if force majeure clause can be invoked or deals can be renegotiated
- A force majeure clause is quite critical in commodity contractsThe event and the causal connection must be outside the control of the parties and should typically be seen as ‘unforeseeable’ and ‘impossi...
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