New Delhi, March 10 -- As the conflict in West Asia has nearly frozen all trade movement through the Strait of Hormuz, Indian law firms have seen a surge in queries from companies seeking clarity on whether they can invoke a rare clause to mitigate risk-force majeure.
It is a contractual provision that allows a party to suspend or avoid its obligations if an unforeseen event outside its control makes performance impossible. These may include war, government restrictions or major disruptions to shipping routes, if specifically covered in the contract.
"The energy sector is reaching out the most, especially companies importing LNG (liquefied natural gas) and crude who now face stranded cargoes and unreliable shipping schedules," said Char...
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इस लेख के रीप्रिंट को खरीदने या इस प्रकाशन का पूरा फ़ीड प्राप्त करने के लिए, कृपया
हमे संपर्क करें.