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Chapter 9 Force Majeure and Arbitration in International Trade 国际贸易实务双语教程(教材PPT).ppt
Chapter 9 Force Majeure Arbitration Cases Chapter 9 Force Majeure and Arbitration in International Trade Definition Significance of Force Majeure Clause Stipulation of Force Majeure Clause Notes to Quoting Force Majeure Clause 9.1 Force Majeure Definition Force Majeure, also called Act of God, refers to an event that can neither be anticipated nor be preventable, avoidable and controllable after the conclusion of the contract, not resulted from the fault or neglect of the parties involved, leading to the failure or the delay of the fulfillment of contract; the party who fails or delays to fulfill the contract due to such event can be free from the liabilities, or to be given an option of terminating the contract or postponing the performance of the contract. 9.1 Force Majeure Significance of Force Majeure Clause With a view to avoiding the unnecessary disputes due to a Force Majeure event, and preventing the arbitrary explanation of the Force Majeure event, unreasonable requirement proposed, or unreasonable refusal of the reasonable requirement proposed by the other party, it is very necessary to make a Force Majeure clause in a sales contract, specifying the nature, scope, principle, and settlement of the Force Majeure clearly so as to the execution of the contract. 9.1 Force Majeure Brief Stipulation Concrete Stipulation Synthesized Stipulation Essential ways of stipulation There are two kinds of legal consequences arising from a force majeure event: (1) termination of the contract (2) postponement of the contract fulfillment The adoption of the settlement ways is dependent on the effect of the force majeure event. Settlement of Force Majeure Events Notes to Quoting Force Majeure Clause The party who suffers from force majeure event shall notify the other party immediately. The party who receives the notification and supporting document about the force majeure event from the other party shall reply the other party promptly as requi
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