What is Force Majeure?

What is Force Majeure?

A borrower needs to protect themselves from liabilities that are out of their control, for example natural catastrophes. In this video Tim explains the idea of force majeure, which is a common clause in borrowing documentation, releasing borrowers from liability for natural catastrophes. 
Overview

The force majeure clause in a borrowing document protects the borrower from being liable for their failure to uphold the contractual obligations as a result of certain unforeseen circumstances.

Key learning objectives:

  • Define force majeure

  • List some examples of events that could fall under the force majeure definitions

  • Understand that the definition of force majeure differs between documents

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Summary
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