Analysis Of Force Majeure, Extension And Arbitration Clause In The Contract

1, Force Majeure

Force majeure clause = force majeure + + action

In the middle, we may encounter some inhuman factors or destruction. At this time, we need to negotiate in advance how to avoid unnecessary disputes.

Example 1: if encountering uncontrollable time or circumstances, it shall be regarded as force majeure, but not limited to fire, wind, flood, earthquake, explosion, rebellion, infection, quarantine and isolation.

If the force majeure fails to fulfill the obligations under the contract, the other party shall extend the time for the execution of the contract, and the extension shall be equal to the time of force majeure event.

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Example 2: if the force majeure lasts for more than 6 months,

If the Force Majeure last over 6 months, the two parties of, two, Force, Majeure, last, and last,

2, Late Delivery and Penalty delayed delivery and

In a contract, if a party fails to fulfill the contract fully or in accordance with the contract stipulations, it should be punished.

Example 1: if Party B fails to finish the project on time due to its own reasons, Party B shall pay a penalty for breach of contract, which is calculated at 1/1000 of the total price per day, that is, one thousand two hundred and sixty dollars.