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Analysis Of Force Majeure, Extension And Arbitration Clause In The Contract

2010/9/23 18:34:00 51

Force Majeure Extension Of Arbitration Clause

1, Force Majeure

Force majeure clause


Force majeure clause = force majeure + + action


In the middle, we may encounter some inhuman factors or destruction. At this time, we need to negotiate in advance how to avoid unnecessary disputes.


Example 1: if encountering uncontrollable time or circumstances, it shall be regarded as force majeure, but not limited to fire, wind, flood, earthquake, explosion, rebellion, infection, quarantine and isolation.

If the force majeure fails to fulfill the obligations under the contract, the other party shall extend the time for the execution of the contract, and the extension shall be equal to the time of force majeure event.


Any event or circumstance beyond control shall be regarded as Force, regarded, ",", ",", ",", ",", ",", ",", ",", ",", ",", ",", ",".


Example 2: if the force majeure lasts for more than 6 months,

contract

The two sides should adjust the performance of the contract through friendly negotiation as soon as possible.

If no agreement can be reached between the two parties, arbitration shall be made according to the twelfth clause of the contract.


If the Force Majeure last over 6 months, the two parties of, two, Force, Majeure, last, and last,


2, Late Delivery and Penalty delayed delivery and

Penalty clause


In a contract, if a party fails to fulfill the contract fully or in accordance with the contract stipulations, it should be punished.


Example 1: if Party B fails to finish the project on time due to its own reasons, Party B shall pay a penalty for breach of contract, which is calculated at 1/1000 of the total price per day, that is, one thousand two hundred and sixty dollars.

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