The contributions contained in this XVII Dossier of the ICC Institute of World Business Law clearly show the importance and actuality of the subject matter of force majeure and hardship. Finding a fair compromise between the principle of pacta sunt servanda and the need to take into account unforeseen circumstances which make performance impossible or too onerous, remains a basic issue for legislators, contract negotiators, as well as judges and arbitrators in case of dispute.

Parties involved in international commercial contracts need updated information about developments in recent years in order to face the problems which may arise due to unforeseen events which make performance impossible or excessively onerous. They need in particular to deal with these problems when drafting their contracts by providing clauses which regulate these issues according to their needs.

The articles collected in this volume offer an updated view of the various issues arising in this context: an indispensable tool for those who need to understand and manage these complex issues. Those who draft and negotiate contracts will find useful information about contractual clauses and in particular about the recent developments of the ICC force majeure and hardship clauses. Those who are involved in litigation (counsels, judges, arbitrators) will find updated information about the approach followed by arbitrators and courts with respect to the main issues arising in this context.

We believe that this dossier will be an essential tool for a more in-depth understanding of force majeure and hardship and for approaching possible future problems through an accurate drafting of appropriate clauses or, at least, if this is not possible, through the use of well-drafted standard clauses.