The 180 Seminar on Force Majeure and Frustration of Contracts will provide an overview of the commercial and legal principles of force majeure and frustration in connection with voyage and time chartering which are essential aspects for safeguarding contractual relationships in today’s volatile geopolitical climate. With increasing risks of sudden disruptions – such as armed conflicts, sanctions, pandemics, and supply chain interruptions – understanding these principles is crucial for parties to anticipate, manage and mitigate the impact of unforeseen events that may lead to the cancellation or frustration of contracts.
The seminar will cover the definition and scope of force majeure and frustration. This will include an overview of the legal definitions of force majeure and frustration, their scope in relation to charterparties and the connection with the underlying commodity sales contract. Common examples of force majeure and frustration that may arise in connection with chartering, such as natural disasters, war, strikes, etc. will be introduced and it will be discussed how and to what extent parties can protect themselves from the effects of force majeure and frustration through contractual provisions.
Participants will gain practical advice on how to deal with force majeure and frustration events, including strategies for minimising losses or damages caused by these events. This will be linked with case studies and examples to illustrate how courts have interpreted the legal principles of force majeure and frustration in connection with chartering and how this can be used to prevent disputes in advance of a potential event.
Discounts
10% group discount is available for registering 3 or more participants from the same company.
What will you learn?
Day 1: Introduction to Force Majeure and Frustration (90 minutes)
- Understand the concepts of force majeure and frustration and how they operate as legal mechanisms to address unforeseen events that disrupt contractual obligations
- Definition of force majeure and frustration and how each is interpreted in the context of charter parties
- Legal implications of force majeure and frustration under time and voyage chartering and how these principles affect the rights and obligations of the parties
Day 2: Case study and discussion on Force Majeure and Frustration (90 minutes)
- The BIMCO Force Majeure Clause. Cause and effect, with a focus on how this and other similar clauses operate in the face of global uncertainties such as trade wars, sanctions and regional conflicts
- Recent examples of force majeure and frustration events in charterparties, highlighting cases influenced by geopolitical tensions and disruptions in international trade
- Force majeure and frustration in the aftermath of COVID-19, and how ongoing global health and political crises continue to impact contractual performance
- Unforeseen events and disruption – including political instability, supply chain interruptions, and regulatory changes – and the possibility to declare force majeure
- Understanding the listed force majeure events and the importance of collecting evidence and documentation to support claims in this evolving environment
Starting time (for both sessions 1 and 2)
14:00 UTC
15:00 CET
See the time in your local time zone.
Course materials
BIMCO issues electronic course files as an Adobe PDF file enabling you to make personal notes. All documentation and presentations will be in English. Course access details will be provided a week before the course start date if the registration is completed.
