scholarly journals Credit Relaxation Policy During Covid-19 Reviewed from the Force Majeure Aspect

2021 ◽  
Author(s):  
Faisal Santiago
Keyword(s):  
Force Majeure

Power Projects and Covid-19: A Practical Analysis of the Relevance of Force Majeure Clauses under the Standardised Power Purchase and Implementation Agreements of Uganda

2020 ◽  
Vol 1 (2) ◽  
pp. 189-193
Author(s):  
Aisha Naiga ◽  
Loyola Rwabose Karobwa
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Clean Energy ◽  
The State ◽  
Energy Sources ◽  
Policy Goals ◽  
Force Majeure ◽  
Practical Analysis ◽  
Energy Justice

Over 90% of Uganda's power is generated from renewable sources. Standardised Implementation Agreements and Power Purchase Agreements create a long-term relationship between Generating Companies and the state-owned off-taker guaranteed by Government. The COVID-19 pandemic and measures to curb the spread of the virus have triggered the scrutiny and application of force majeure (FM) clauses in these agreements. This article reviews the FM clauses and considers their relevance. The authors submit that FM clauses are a useful commercial tool for achieving energy justice by ensuring the continuity of the project, despite the dire effects of the pandemic. Proposals are made for practical considerations for a post-COVID-19 future which provides the continued pursuit of policy goals of promoting renewable energy sources and increasing access to clean energy, thus accelerating just energy transitions.

FORCE MAJEURE, CHANGE OF CIRCUMSTANCES AND TERMINATION OF CONTRACT

2016 ◽  
Vol 3 (1) ◽  
pp. 31-44
Author(s):  
Shiyuan Han
Keyword(s):  
United Nations ◽  
Contract Law ◽  
Unified Model ◽  
The Other ◽  
Final Decision ◽  
Dual Model ◽  
Chinese Law ◽  
Force Majeure ◽  
United Nations Convention ◽  
Distinct Line

It is impossible to draw a distinct line between force majeure and change of circumstances, because the two overlap. In order to regulate both force majeure and change of circumstances, the United Nations Convention on Contracts for the International Sale of Goods (CISG) has adopted a unified model in article 79, whereas Chinese law adopts a dual model by treating them as different things and regulating them in different articles. Where the purpose of a contract becomes impossible to achieve because of a force majeure and both the CISG and Chinese Contract Law (the CCL) adopt the same model of termination of the contract, the contract should be terminated by one party with a notice to the other party instead of ipso facto avoidance. In a case of a change of circumstances, in order to terminate the contract, both the CISG and the CCL actually follow the path of raising an action by a notice of avoidance or termination to theother party. Both approaches have their merits and demerits but the differences between them in practice are not as large as presumed. Where force majeure and change of circumstances overlap each other, possible ways for termination of the contract are for a party either to choose their preferred solution or to follow the lex specialis derogat generali. The latter way is preferred in this article; and while in an action for termination the judge may balance the interests of both parties in making a final decision, the uniform application of the law, the safety of the transaction and the fairness of the judgment may be ensured in so doing.

THE USE OF FORCE MAJEURE BY ATTORNEY AGAINST TAXATION CRIME

2018 ◽  
Vol 2 (2) ◽  
pp. 182
Author(s):  
Adnan Hamzah ◽  
Muhammad Djafar Saidi ◽  
Amir Ilyas
Keyword(s):  
Use Of Force ◽  
Normative Study ◽  
Information Transparency ◽  
South Sulawesi ◽  
Additional Investigation ◽  
Force Majeure ◽  
Directorate General ◽  
Financial Losses

<p>This study aimed to see the effectiveness of using force majeure along with the challenges the attorney might encounter against taxation crime. It was a normative study with statute and case approaches. The study was conducted in High Prosecutor General office in Makassar and Directorate General of Tax South Sulawesi. The result showed that the force majeure by attorney against taxation crime might be applied in the form of detention to complete particular documents and conduct an additional investigation before filing the case to the court. The challenges in implementing the force majeure by attorney against taxation crime might come from legal and non-legal factors. The former involved confusing phrase of ‘investigation termination’ by attorney and the light different view on state financial losses between under Corruption Law and under General Act of Taxation, and the later involved the professionalism of attorney and information transparency. </p>

FEATURES OF RISK MANAGEMENT AFTER REALIZING PPP PROJECTS

2018 ◽  
Vol 1 (12) ◽  
pp. 179-190
Author(s):  
Mariya Zinovievivna Masik
Keyword(s):  
Risk Management ◽  
The State ◽  
Financial Risks ◽  
Contract Negotiations ◽  
The Public ◽  
Political Risks ◽  
Force Majeure ◽  
Investment Agreement ◽  
The Law ◽  
Partnership Agreement

The article is devoted to the clarification of the peculiarities of risk management during the implementation of PPP projects. The author identifies a set of risks for a private partner, business risks of PPP projects and the main risks associated with the protests of the public, as well as public and international organizations. The typical risks of PPP projects are presented, including force majeure, political risks, profitability risks, operational, construction, financial risks, and the risk of default. The world experience of sharing risks between the partners is presented. Also named are the main methods for assessing the risks of PPP projects. It has been determined that the conditions on which the parties should reach agreement in order for the contract to be concluded are essential. Risk management can be implemented within the framework of the essential conditions for the allocation of risks. However, the provisions of the law provide for the allocation of only those risks identified by the results of an analysis of the effectiveness of the PPP project. Legislation does not directly determine how risks can be allocated to the risks identified during the pre-contract negotiations (or even at a later stage), but not taken into account in the analysis of efficiency. For example, suggestions on the terms of the partnership agreement as part of the bidding proposal may include suggestions on risk management mechanisms. There are no definite and can not be fully defined possible ways of managing risks in view of their specificity for a particular project. For this purpose, it is advisable to provide for a period of familiarization with the draft tender documentation and the possibility of making changes to it based on the findings received from potential contestants. It is also advisable to foresee cases in which it is possible to review certain terms of the contract without a competition. It is substantiated that the law does not restrict the possibility of foreseeing specific terms of an agreement on the implementation of the PPP project or to conclude additional (auxiliary) contractual instruments (for example, an investment agreement). At the same time, when laying down conditions not provided for by law, it is necessary to take into account the scope of competence of the state partner. Also, in order to ensure the principle of equality of conditions, the state partner should provide such additional conditions in the tender documentation.

The Impact of Pandemics Such as the COVID-19 and Other Unforeseeable Events on Leases: Force Majeure or Frustration?

2020 ◽  
Author(s):  
Ekhorutomwen Gabriel Ekhator ◽  
Andrew Ogiribo ◽  
Samuel Iyobosa Ebughe
Keyword(s):  
Force Majeure ◽  
The Impact

Ensuring food security amid the spread of COVID-19

Ekonomika APK ◽  
2021 ◽  
Vol 321 (7) ◽  
pp. 16-27
Author(s):  
Mykola Pugachov ◽  
Olha Khodakivska ◽  
Oleksandr Shpykuliak ◽  
Nataliia Patyka ◽  
Olena Hryschenko
Keyword(s):  
Food Security ◽  
Food Products ◽  
The State ◽  
Practical Significance ◽  
Economic Science ◽  
Political Factors ◽  
Healthy Nutrition ◽  
Economic Methods ◽  
Force Majeure ◽  
The Impact

The purpose of the article is to carry out an analytical assessing the impact of the COVID-19 pandemic on the level of food security in Ukraine. Research methods. The research was based on general scientific and economic methods, the creative heritage of the founders of economic science, publications of Ukrainian and foreign scientists on the impact of quarantine restrictions related to the spread of the COVID-19 pandemic on the level of food security of the country, regulatory legal acts, data from the State Statistics Service of Ukraine, electronic resources and other sources. The monographic approach is used to analyze the dynamics of the actual consumption of agri-food products and the level of food independence for individual agri-food products. Normative and positive approaches are used to highlight real risks and threats to food security. A number of techniques of abstract-logical tools made it possible to make a scientific and applied generalization of the material presented, to formulate intermediate and final conclusions and proposals. Research results. An analytical assessing the impact of the COVID-19 pandemic on the consumption of agri-food products and the level of food independence for individual agri-food products has been carried out. It has been proven that Ukraine produces enough food to ensure healthy nutrition for citizens. It has been determined that due to the low purchasing power of the population, groups of citizens with low incomes have limited access to essential agricultural and food products. In the medium and long term, there will be a shortage of food resources and global food inflation, the situation in agricultural markets will remain unstable, and trade will continue to develop under the influence of not only competition, but also political factors. Scientific novelty. The theoretical and methodological provisions, scientific, methodological and practical approaches to determining the factors of influence of quarantine measures and the spread of COVID-19 to the level of food security of the state have been substantiated. Assessing the impact of quarantine measures and the spread of COVID-19 on food security made it possible to identify the main risks of ensuring the country's food security. Practical significance. The applied aspects of the study can be taken into account in the formation of programs for the socio-economic development of the agri-food sector of Ukraine, which will increase the effectiveness of state initiatives aimed at ensuring food security of the state and increase the country's readiness for force majeure threats. Tabl.: 7. Figs.: 3. Refs.: 17.

Akibat Pandemi Covid-19 Sebagai Alasan Force Majeure dalam Perjanjian Pinjam-Meminjam Uang

2021 ◽  
Vol 2 (2) ◽  
pp. 234-240
Author(s):  
I Made Widnyana Putra ◽  
Ni Luh Made Mahendra Wati ◽  
Ni Komang Arini Styawati
Keyword(s):  
Force Majeure

Pandemi covid-19    berakibat   bagi   perjanjian.   Hal  itu  dilakukan  pihak   tetap menjalankan kontraktualnya,  dilain   waktu yang disepakati  pihak  tergantung isi perjanjian.   Kewajiban  debitur  ditangguhkan   sampai  pemenuhan kewajiban ketika siruasi  sudah terkendali.  Rumusan masalah  penelitian adalah Bagaimana  perjanjian pinjam-meminjam uang dalam kondisiforce   majeure  sebagai dampak covid-19?. dan Bagaimana upaya hukum penyelesaian  sengketa terhadap pihak yang dirugikan dalam hal terjadinya force  majeure'l,   Menggunakan metode penelitian hukum normatif. Perjanjian pinjam-meminjam  uang dalamforce majeure  sebagai dampak covid-19   pemerintah menerbitkan  restrukturisasi. Otoritas Jasa Keuangan (OJK) telah   mengeluarkan  Peraturan  OJK  No.   11    Tahun  2020  tentang  Stimulus Perekonomian Nasional  sebagai  kebijakan  Countercyclical dampak penyebaran covid-2019.    Upaya hukum dalam   penyelesaian    sengketa terhadap pihak   yang dirugikan dalam hal terjadinya force majeure  dilakukan non litigasi   dan litigasi. Non  litigasi    meliputi    konsultasi,    negosiasi,     mediasi,   konsiliasi,    atau   arbitrase sedangkan  litigasi  penyelesaian   sengketa jalur  pengadilan  

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