Force majeure clause example
The following force majeure clause from M& C's legal expert, Jonathan T. Howe of Chicago's Howe& Hutton firm, is relatively general and should be used as a guide. Before slipping it into your contract, be sure to obtain competent legal advice.Force Majeure Clause. The principal purpose of a force majeure clause is to temporarily exempt one or both of the parties to a contract from their contractual obligations where an act of god or other event beyond the parties' control intervenes. force majeure clause example
Force Majeure Sample Clauses. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism,
Example of a typical Force Majeure clause. Force Majeure. If either party hereto is prevented in the performance of any act required hereunder by reason of act of God, fire, flood, or other natural disaster, malicious injury, strikes, lockouts, or other labour troubles, riots, insurrection, war or other reason of like nature not the fault Example Force Majeure Clause. When creating such a clause it is important to not only define the events covered, but what will happen in the event one of the events occurs, which party can suspend performance or terminate the agreement, and what happens in the event the force majeure event continues for a lengthy period of time.force majeure clause example No. Force majeure is often treated as a standard clause that cannot be changed. However, as the clause excuses a party from carrying out its obligations, it needs to be carefully thought through and tailored for the project in question.