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Force Majeure

  • IASbaba
  • March 30, 2020
  • 0
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Force Majeure

Part of: GS Prelims 

In News: 

  • The Ministry of Railways has decided that the period from 22.03.2020 to 14.04.2020 shall be treated under force majeure

Key takeaways:

  • The Ministry of Railways clarified that spread of coronavirus should be considered as a natural calamity and Force Majeure clause may be invoked. 
  • Charges like demurrage, wharfage won’t be applicable during this period. 

Important value additions:

Force Majeure

  • Force majeure (FM) means extraordinary events or circumstances beyond human control such as an event described as an Act of God (like a natural calamity). 
  • DemurrageA charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.
  • Wharfage – Accommodation provided at a wharf for the loading, unloading, or storage of goods.

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