Project agreements and force majeure clauses.
Mondaq Business Briefing › Nbr. 2011, January 2011
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Project agreements and force majeure clauses.
Given the recent devastating floods in Queensland, force majeure clauses in project agreements will become more pertinent. The amount of time spent negotiating these clauses is often minimal, with the general assumption that the risk will not affect companies/individuals and that the clause is a legal necessity and does not impact risk allocation under the contract. Recent events exemplify that both of these assumptions are inherently dangerous and, particularly ...
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