Force Majeure

Shahed · Post by **Shahed** » Fri Oct 10, 2008 1:00 am

Article 36 of UCP 600 stated that a bank assumes no liability or responsibility for the consequences ..............or any other cuases beyond its control.

My first question is what does it mean by "or any other causes beyond its control", does it includes Bankruptcy ?

My second question is if complying documents are presented to a confirming bank and the issuing bank stops because of force majeure events, does the issuing bank have no liability to reimburse the confirming bank when they re-open ? I read the "Frequently Asked Questions under UCP 600" by Collyer Consulting but i like to know whether there are any ICC opinions in this regard.

Thanks,

Shahed Aziz
Toronto

polterd · Post by **polterd** » Mon Oct 20, 2008 1:00 am

Shahed,
For the 1st question you should ask a lawyer.
For the 2nd question pls see Commentary on UCP600 article-by-article, analysis by the UCP600 Drafting Group.
Regards,
Bogdan