In accordance with Article 1.2 of Appendix of the Regulation No A/121 on Procedure to issue a Certificate on force majeure and hardship by the Chairman of Mongolian National Chamber of Commerce and Industry(hereinafter “the Chamber”) dated 24 January 2020, a force majeure means the parties are unable to implement their contractual obligation due to the following obstacles which are beyond the reasonable control of parties, unforeseeable circumstances and cannot be predicted, prevent or overcome by scientific and technological achievement. They are:
- Announced and unannounced war, armed conflict, riot, foreign aggression, sabotage activities, revolution;
- All kinds of natural disasters / severe storm, hurricanes, earthquakes, strong waves, floods, snowstorms, severe weather, droughts, heavy rain, thunderstorms, fires etc./;
- Detonation, explosion, damage of the machinery or industrial equipment, and serious electrical damage;
- All kind of restriction, pandemic, quarantine, closedown and strike at the legal entity of the party wishing to be exempted from all types of sanctions and liabilities;
- Legal and illegal action and inaction, legal acts, orders, decrees of the state officer, dissolution of the workplace, mobilization of assets and socialization.
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V.Bolormaa, Partner of GRATA International