FORCE MAJEURE AS A BASIS FOR EXEMPTION FROM ECONOMIC CONTRACTUAL LIABILITY

Abstract

The article is devoted to the concept and qualifications of force majeure circumstances as the basis for exemption from economic contractual liability. The problem of form-major circumstances in the field of foreign economic activity has been updated. The provisions of the UN Convention on Contracts for the International Sale of Goods, the Unidroit Principles of International Commercial Contracts, the ICC Model Force Majeure Clause regarding the nature of force majeure circumstances (circumstances beyond the control of the parties), as well as related procedural issues are considered.
A comparative description of the consequences of the realization of the right to unilateral termination of the contract and the consequences of the onset of force majeure circumstances is carried out. Particular attention is paid to the causal relationship between the occurrence of force majeure circumstances and the improper fulfillment of economic contractual obligations. Recommendations are proposed for further scientific research on the issue of force majeure in the context of modern challenges and separate proposals are formulated to improve the current legislation of Ukraine on these issues.

Key words: force majeure, economic contractual obligation, improper performance, economic responsibility.