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To: texas booster
Every contract written should include a "force majeure" clause.

Declaring "force majeure" for the coronavirus epidemic seems reasonable. The Chinese copper buyers are seeking delays, not cancellation.

5 posted on 02/07/2020 6:26:20 AM PST by FtrPilot
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To: FtrPilot
Most contracts include some form of force majeure, even as a simple Acts of God statement.

That Chinese traders are calling for it does not mean that suppliers have to accept it.

From MSN, at 4:30 am CST:

China LNG Force Majeure Rejected as Virus Chaos Sparks Dispute

Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets.

Royal Dutch Shell Plc and Total SA didn’t accept the legal grounds for the move by China National Offshore Oil Corp. that would have freed it from its contractual obligations to take delivery of the shipments, according to people with knowledge of the matter.

While CNOOC is still likely to cancel delivery of the prompt cargoes, suppliers will probably seek compensation from the Chinese firm, ...

10 posted on 02/07/2020 6:33:20 AM PST by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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