Example “Force Majeure” Clause Neither Party shall be liable or responsible for any failure or delay in performance under the present Contract if such failure or delay is caused by Act of God, Government restrictions (including the denial or cancellation of any export or other necessary license), riots, civil commotions, wars, insurrections and/or any other cause beyond the reasonable control of the Party whose performance is affected.
The Party experiencing the difficulty to meet the obligations under the present contract due to the causes beyond its control shall give the other Party prompt written notice, with full details following the occurrence of the cause relied upon. Dates by which performance obligations are scheduled to be met will be extended for a period of time equal to the time lost due to any delay so caused.”
The important part is:
"Dates by which performance obligations are scheduled to be met will be ****extended***** for a period of time equal to the time lost due to any delay so caused"
ERA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
