To search please Login or Register for free.


Chris Alviggi from NFP explains what you need to know

France, 1861. Two parties (event organiser-lessee and landlord) enter into a fixed price/day contract for a music hall rental, when an accidental fire destroys the venue. The contract did not contain a clause stipulating recourse due to unforeseen events. Parties sued and the courts ruled: ‘In contracts in which performance depends on the continued existence of a given person or thing, a condition is implied that the impossibility of performance arising from the perishing of the person or thing shall excuse the performance.’ On this day, force majeure (FM) was born.

In the normal course of business, contracts are executed, and FM clauses are generally glossed over. Often, contracted parties do not fully vet FM on performance, indemnification, and insurance recovery. This article delves into the implications of FM clauses in the context of tankage agreements, brownfields, and environmental health and safety (EHS) initiatives.


The full article is available to Tank Storage Magazine subscribers. Login, Subscribe or purchase the issue this article is featured in here.

Next Post

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.