BIMCO has introduced its Force Majeure Clause 2022, providing a comprehensive code for parties to help resolve situations arising from unexpected events impacting the performance of the contracts.
“The unforeseen events of recent years have demonstrated how beneficial it can be for parties to contractually ‘expect the unexpected’ – whether the event is extraordinary weather conditions caused by climate change or a pandemic,” said BIMCO.
It is a “model” clause designed for use with all types of agreements. This means that parties may need to adapt it to suit the specific needs of their contract and should look carefully at the wording and the explanatory notes before using the clause.
The clause explanatory notes can be seen here.
