Force majeure
It's a difficult word to me! Even in Korean, my mother language. This is a term relating international trading and I will write down my experience about it.
I'm working at oversea sales field and one buyer required penalty to us because an order we've handled was delayed because of an accident. There was no problem in shipment, but the vessel was crushed with another vessel on the sea. Luckily, products were safe. I mean It was not sinked. But It also mean we can't get any money from insurance company. It was not our fault but also not FORCE MAJEURE. FORCE MAJEURE is a situation we cannot handle and accident. For example, many kinds of disaster like tsunami. In case of FORCE MAJEURE, we don't have to pay penalty for the delay of shipment. Sadly, The accident was not FORCE MAJEURE, Our company should pay penalty to buyer. I heard It's about 6million dollers. We are negotiating with buyer and vessel company to minimize our demage. I hope we can get over from this situation soon!
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Corrections · 2
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Was the accident in US waters?
Like a car accident, was there a maritime crash report?
Pictures should be taken, as well as a weather report given. Perhaps the captain and crew of both ships should have been drug tested.
Your company must prove to the insurance company that your vessel was not at fault. If your vessel was partly at fault, then what is known as "Comparable Negligence" may be applied and only a percentage of damage would be covered.
This is not a Force Majeure case. Be certain the correct terms and laws are applied. Suing under the wrong code (Section of the Law) would be a waste of money and time for your firm.
Create a login for access to this article (not sure if it can only be accessed by members).
http://www.ism.ws/pubs/ISMMag/ismarticle.cfm?ItemNumber=12374
Dynamic Contract Interpretation – January 29, 2006 Members-Only Content
that can be traps that trip up the supply professional. An Example Imagine a contract that contains three clauses: a force majeure clause … , "Sorry, the failure of the long-haul supplier is a force majeure event under our supply agreement with you, and therefore, we are excused from.
Your insurance company might not be excuse from payment. Force Majeure is considered "an act of God" or natural disaster.
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Force majeure
It's a difficult word, even to me! Even in Korean, my mother language, it is a difficult word. This is a term relating to international trading and I will write down my experiences about with it.
I'm working at I work in the overseas sales field and one buyer required penalty to us penalized us because an order we've had handled was delayed because of due to an accident. There was no problem in with the shipment, but the vessel was crushed with by another vessel on the sea. Luckily, the products were safe. I mean, It was not sinked they did not sink. But It also meant that we can't couldn't get any money from the insurance company. It was not our fault but also not FORCE MAJEURE. FORCE MAJEURE is a situation where we cannot handle control and accident (in cases of natural disasters like tsunamis). For example, many kinds of disaster like tsunami. In case of FORCE MAJEURE, we don't have to pay the penalty for the delayed of shipment. Sadly, since the accident was not FORCE MAJEURE, our company should had to pay the penalty to the buyer. I heard It's that it was about 6 million dollars. We are negotiating with the buyer and vessel company to minimize our damage. I hope we can get over recover from this situation soon!
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