Common use of FORCE MAJEURE Clause in Contracts

FORCE MAJEURE. Art. 20. (1) Neither of the Parties under this Contract shall be responsible for failure to implement, caused by force majeure. For the purposes of this Contract, the meaning of "force majeure" shall be according to Art.306, Par.2 of the Commercial Act. (2) Any of the Parties that was delayed at the moment of occurrence of the circumstance representing force majeure, has no right to refer to the force majeure (3) The party that is not able to perform its obligations because of force majeure shall undertake all actions with due diligence, so as to minimize the incurred damages and losses, as well as to inform in writing the other party within 3 (three) working days after the occurrence of the force majeure. While doing this, it shall point out what constitutes the force majeure and what are its possible consequences for the Contract implementation. In case of failure to notify, remuneration shall be paid for the damages incurred. (4) During the force majeure, the implementation of the obligations and the relevant counterpart obligations shall be suspended. ХIV.

FORCE MAJEURE. Art. 20. (1) Neither of the Parties under this Contract shall be responsible for failure to implement, caused by force majeure. For the purposes of this Contract, the meaning of "force majeure" shall be according to Art.306, Par.2 of the Commercial Act. (2) Any of the Parties that was delayed at the moment of occurrence of the circumstance representing force majeure, has no right to refer to the force majeure majeure. (3) The party that is not able to perform its obligations because of force majeure shall undertake all actions with due diligence, so as to minimize the incurred damages and losses, as well as to inform in writing the other party within 3 (three) working days after the occurrence of the force majeure. While doing this, it shall point out what constitutes the force majeure and what are its possible consequences for the Contract implementation. In case of failure to notify, remuneration shall be paid for the damages incurred. (4) During the force majeure, the implementation of the obligations and the relevant counterpart obligations shall be suspended. ХIV.