IV. Contractual Mechanisms to Address Economic Hardship
One way in which parties may seek to minimize the risks associated with a change…
There are a number of contractual mechanisms that the parties can use in order to…
Express conditions;…
- Extension of a force majeure clause to include economic hardship;…
- Separate hardship clause (e.g. modelled on Article 6.2.2. of the UNIDROIT Prin…
- Clause requiring periodic renegotiation in good faith; or…
- Price escalation (or de-escalation) / index clause.…
However, parties should be aware that having such a clause in their contract could…
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