Risky business: Offshore drilling and using force majeure as an exit route – Practical Law: Construction Blog

Posted September 12th, 2018 in construction industry, contracts, news by tracey

‘A contract can be a long term commitment. Over the course of a contract, things happen. Circumstances change. Force majeure clauses generally allow parties to allocate contractual risk, by limiting liability, excusing performance or providing for termination, if unusual or unfortunate circumstances arise. However, the recent case of Seadrill v Tullow reminds us that it is not all that easy for a party to seek to avoid obligations it has freely undertaken.’

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Practical Law: Construction Blog, 10th September 2018

Source: constructionblog.practicallaw.com