ICC Force Majeure Clause 2003 - ICC Hardship Clause 2003

Others

ICC Force Majeure Clause 2003 - ICC Hardship Clause 2003

By ICC
International Chamber of Commerce_ December 2003

Specifications

ISBN-13
9789284213191
Publisher
International Chamber of Commerce_
Publication
December 2003
Format
Paperback , 23 pages
Jurisdiction
International ? Countri(es) for reference only

Details

Force Majeure literally means “greater force”. Force Majeure clauses excuse a party from liability if some unforeseen event beyond the control of that party prevents it from performing its obligations under the contract.

A hardship clause, on the other hand, requests re-negotiation of the contract if the continued performance of one party’s contractual duties has become excessively onerous due to an unforeseen event beyond the control of that party.

Negotiating force majeure and hardship clauses means operating at the very core of the contract. It is important that the clauses are balanced and apply equally to all parties to the agreement. ICC has designed the ICC Force  Majeure Clause 2003 and the ICC Hardship Clause 2003 to facilitate the drafting process both for companies and for their lawyers and help them to take unforeseeable circumstances into account.

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