Force Majeure

摘要

In an article for ce in may rn2008, I speculated as to whether the global credit crunch would spread from financial circles to the more general environment, thereby increasing the level of disputes between contracting parties.rnWhen writing that article, I did not wish to be a harbinger of doom, but the global credit crisis has developed and is now exerting an increasing influence on those involved in the delivery of major capital projects around the world.rnProjects once seen as profitable are being put on hold or cancelled by employers. We are also seeing parties under contract that are now unwilling or unable to meet their obligations because of currency fluctuations or the price of commodities.