Risk Allocation in an Unprecedented World: From Force Majeure to Supply Chain Chaos
This will be an interactive discussion with the speakers sharing their knowledge and encouraging the audience to share theirs, challenge pre-conceptions and established interpretations.
Force majeure as a basis of risk and claim is evolving as real risks to projects increase. No longer hypothetical or remote. Factors to take into account all the time include war, hostilities, famine, disease, adverse weather, trade tariffs and beyond.
How are contracts evolving in different jurisdictions to deal with the new realities and uncertainty around major project contracting?
What are “exceptional events2 and what is the impact of prior knowledge?
How are parties adapting to what is foreseeable?
What is the benefit of early warning, and how does it work in practice?
Does risk allocation exist or is it just a question of “money talks”?
Supply chain risks v benefits, how are these allocated between the Employer and Contractor?