How companies can mitigate risk under force | 電影影評網
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Weneedtoconsideranumberoffactorsbeforewecantrigger“force-majeure”clauses:·acircumstanceshouldbeofanexceptionalnature, ...
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Can companies avoid breaches of contractual obligations and survive the experience without damaging their business or by at least mitigating losses? Kazakhstan civil law provides a number of provisions that may apply in the current situation.
One possibility is to trigger force-majeure provisions, which tend to be overlooked during the normal course of business. There is no statutory definition of the term ”force-majeure”, but there is a term “insurmountable force”, which covers emergencies and unavoidable circumstances under specific conditions, such as natural disasters, military action and others. Having said that, there is no exhaustive list of circumstances that may be recognised as an “insurmountable force”. In fact, the circumstances in question are normally clarified in specific contracts.
We need to consider a number of factors before we can trigger “force-majeure” clauses:
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