Results for tag: "Force Majeure"

Force Majeure is a term used in management to refer to an event or circumstance that is beyond the control of the parties involved. It is typically used in contracts to refer to an event that prevents one or both parties from fulfilling their obligations. Examples of Force Majeure events include natural disasters, war, terrorism, and pandemics. Force Majeure clauses are used to protect both parties from liability in the event of an unforeseen event. The clause typically outlines the responsibilities of each party in the event of a Force Majeure event, such as the suspension of contractual obligations or the termination of the contract. The Force Majeure market is a rapidly growing sector of the management industry. Companies in this market provide services such as contract review, risk assessment, and dispute resolution. These services help businesses to protect themselves from the financial and legal risks associated with Force Majeure events. Some companies in the Force Majeure market include Deloitte, KPMG, EY, PwC, and Norton Rose Fulbright. Show Less Read more