By: Westfield Insurance
Force majeure is French, translating as a “superior force.” Black’s Law Dictionary defines force majeure as an “event or effect that can be neither anticipated nor controlled.”
In the construction industry, many contracts and subcontracts contain provisions delaying or even excusing performance in the event of a force majeure event. Contracts may not always use the term force majeure, but may instead define acts generally-associated with the concept.
Westfield Insurance has put together a memo for surety agents to understand the full impact of this situation.