Force Majeure: Understanding UCP600 Article 36

• LC Bankers
• Lawyers
• Compliance Officers
• Corporates
• Importers/Exporters
• Freight Forwarders
• Professionals using UCP600 for trade transactions

Summary of Topics

A) Introduction ....................................................................................................... 1,294

1. Generally.
2. Background & Context.
3. Application of UCP600 Article 36 & Its Impact.
4. UCP600 Defined Terms Used in UCP600 Article 36.
5. UCP600 Interpretations Applicable to UCP600 Article 36.
6. Organization of this Chapter.

B) Application......................................................................................................... 1,295

7. Disclaimer.
8. Enforceability.
9. Bank.
10. Liability or Responsibility.
11. Consequences Arising Out of.
12. Persons Affected.

C) Detailed Events ................................................................................................. 1,299

13. Covered Events.
14. Force Majeure.
15. Causes Beyond the Issuer’s Control.
16. Differentiation between Listed Causes.
17. Non-Payment as a Result of a Decision of a Public Authority.

D) Other Issues ....................................................................................................... 1,302

18. Situations in Which the Force Majeure Clause is Relevant: Closure on the Expiry Date.
19. Closure Due to Force Majeure With Respect to Other Deadlines.
20. Other Situations in Which Force Majeure is Relevant Where the Bank is Not Closed.
21. Interruption of the Bank’s Business.
22. Failure to Exercise Reasonable Care.
23. Consequences of Non-Excuse.
24. “Resumption of Business”.
25. Types of Engagement.
26. Force Majeure Clause in Underlying Contract.

E) Miscellaneous Issues ........................................................................................ 1,305

27. SWIFT.
28. Variations.
29. Role Under an eUCP Credit: UCP600 Article 36 would not produce a result different from the provisions of the eUCP.
30. Applicability to Standbys.
31. Restatement.

F) References .......................................................................................................... 1,306

32. Prior Versions.
33. Other Sources