Moratorium Contracts

The World Health 0rganisation states that we are facing a disaster, everywhere from the Marshall Islands to Papua New Ginea.

This catastrophe shall not be identified as a Force Majeure ; Contract Law provides that a Force Majeure shall occur at one place, at a certain time; such as an earthquake, a strike etc..Under these extraordinary circumstances, a wide range of issues concerning the law of contracts whether existing contract terms are still valid and binding or whether performance maybe suspended or its acceptance shall be refused is considered.Contract related measures may provide a MORATORIUM for performance and/or termination of contracts.Contracting Parties shall be able to release themselves from their obligations under a significant adjustment made to the agreement.

Moratorium Contracts/ Article by

Av.Alev Elif Beller