Force Majeure Risk

Posted in Finance, Accounting and Economics Terms, Total Reads: 778
Advertisements

Definition: Force Majeure Risk

Force majeure risk is a risk arising out of a ‘superior force’.It states that in case a contract faces risk from a force, uncontrollable by the two concerned parties, these parties are free of their obligations towards the contract. Such risks include wars,floods, earthquakes etc.

Often the obligations are suspended only till the force majeure risk prevails and are reinforced after the risk ends.

 

Search & Explore : Management Dictionary

Browse the definition and meaning of more terms similar to Force Majeure Risk. The Management Dictionary covers over 7000 business concepts from 6 categories.



Share this Page on:

Similar Definitions from same Category: