GAFTA standard form contracts revise approach to force majeure
By John MacKenzie
From 1 June 2014, GAFTA standard form contracts have adopted a single ‘prevention of shipment/delivery’ clause that deals with events previously covered under separate ‘prohibition’, ‘force majeure, strikes’ and ‘loading strikes’ clauses. The effect has been to introduce an overarching concept of ‘force majeure’ in all FOB, C&F and CIF GAFTA contracts.
The new clause expressly lists 12 events covered by the unified concept of force majeure. These include: (a) prohibition of export; (b) blockade; (c) acts of terrorism; (d) hostilities; (e) strike, lock-out or combination of workmen; (f) riot or civil commotion; (g) breakdown of machinery; (h) fire; (i) ice; (j) act of God; (k) unforeseeable and unavoidable impediments to transportation or navigation; and (l) any other event comprehended in the term ‘force majeure’…
Click on the link below to read the rest of the Shepherd and Wedderburn briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Shepherd and Wedderburn
News from The Lawyer
Briefings from Shepherd and Wedderburn
The Legal Writings (Counterparts and Delivery) (Scotland) Bill allows the execution in counterpart of formal documents and contracts in Scotland to become legally effective by electronic delivery.
In this briefing, which provides some pointers for making sense of Big Data, Hayley Pizzey of Shepherd and Wedderburn discusses the methods and tools which can be used to interrogate data sets.
Analysis from The Lawyer
With banking, personal injury and M&A all down, law firm mergers are in the bracing Scottish air