China issues record number of force majeure certs to coronavirus-hit businesses

By IM Staff
Published: Monday, 02 March 2020

The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.

By Dalila Ouerghi

Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26.

The legal provision is traditionally used in contracts to protect parties under unforeseeable circumstances that prevent them from fulfilling the contract’s...