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Credits

Sponsored by Lorman Education
Product ID: 408342EAU
 
Credit & Course Provided by:

Force Majeure and Commercial Impracticability in Purchasing and Sales Contracts

OnDemand Webinar (87 minutes)

Gain an understanding of what's covered by your force majeure clause.Your supplier's plant was severely damaged by an earthquake and is claiming it is excused from filling your orders. A strike has stranded a shipment, and your supplier claims it is not responsible for any delay. Or your supplier is claiming that a shortage of raw material and spike in prices has made it impossible for it to perform. What are your rights? Is your supplier really excused from fulfilling the contract? If so, what must they do to minimize harm to you, and what actions can you take to protect yourself? This topic will provide you a basic understanding of your rights in these circumstances. You will receive a primer on the types of events that often do, and do not, excuse performance under a force majeure clause or the doctrine of commercial impracticability, the duty for available supply to be allocated among customers, and notifications to which you are entitled. Focused on practical steps, and not just theory, you will be interested in this timely discussion of what to do when disaster strikes.

Authors

Christopher Tompkins, Jenner & Block LLP

Agenda

Origins of Force Majeure and Commercial Impracticability

When Can Performance Be Excused?

• Force Majeure Clauses

• Commercial Impracticability or Failure of Presupposed Conditions Under UCC 2-615

• Typical Events Excusing Performance and Those That Will Not

• Emerging Pandemic Issues

Procedures After a Force Majeure Event

• Notice Requirements

• Allocation Where Performance Is Only Partially Excused

• When a Force Majeure Event Ends

Preventing Problems: Tips for Drafting Effective Force Majeure Clauses