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Force majeure: Why companies are triggering a legal safety net as Iran war rages on
RIYADH: As geopolitical tensions escalate across the Middle East, a flurry of legal declarations is sending shockwaves through the global energy market. From Bahrain to Qatar to Kuwait, companies are invoking a contractual mechanism known as force majeure — a legal provision included in contracts to protect parties from being penalized when unforeseen and uncontrollable events make it impossible to fulfill their obligations.
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aljazeera.com
Force majeure: What is it and why have some Gulf countries invoked it?
Several Gulf nations have declared force majeure on oil and gas shipment since the US-Israel’s war on Iran was launched.
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arabnews.com
Force majeure: Why companies are triggering a legal safety net as Iran war rages on
RIYADH: As geopolitical tensions escalate across the Middle East, a flurry of legal declarations is sending shockwaves through the global energy market. From Bahrain to Qatar to…