DISCUSSING FORCE MAJEURE SITUATIONS IN LC TRANSACTIONS Yesterday on New Year’s Day 2024, Central Japan suffered terrible earthquakes, causing many houses and roads to collapse and many people to die. The earthquakes caused Mr. Old Man recalls the 8.9 magnitude earthquake accompanied by a 10-meter high tsunami that occurred in Japan on March 11, 2011. That day, together with Kim Sindberg, Editor-in-Chief of Trade Services Update, Mr. … Read More
THE FORCE MAJEURE RULE * By Nguyen Huu Duc and Kim Christensen A powerful 8.9 magnitude earthquake accompanied by a ten meter tsunami hit Japan on Friday, 11 March 2011, engulfing many towns along the northern coast of Japan. As a result of this force majeure event, thousands of businesses including banks in the affected areas had to close their businesses. The question is raised … Read More