Common use of FORCE MAJOR Clause in Contracts

FORCE MAJOR. 10.1. The Parties shall not be held liable for full or partial failure (inappropriate execution) of obligations of the Agreement in case this failure (inappropriate execution) was the result of force major which took place after the conclusion of the Agreement. 10.2. In case of force major, the term of the execution of obligations by the Parties is prolonged according to the length of time of operation of such circumstances. 10.3. The Party which finds it impossible to execute the obligations of the Agreement must inform the other Party in written form within three days after commencing of such circumstances and describe the situation, probable period of time of the effect and cessation of these circumstances. 10.4. If the inability of full or partial execution of obligations of the Agreement by the Parties in case of force major shall exist for more than a month, the Parties have the right to terminate the Agreement. In this case, neither of the Parties acquires the right for the compensation of losses caused by such termination.