The Finance Ministry (Government of India) said that the COVID-19 outbreak in China will be considered a ‘force majeure’ situation.
About:
Force majeure is a French term that literally means "greater force." A ‘force majeure’ situation refers to extraordinary events and circumstances beyond human control.
It is related to the concept of an act of God, an event for which no party can be held accountable, such as a hurricane or a tornado. Force majeure also encompasses human actions, however, such as armed conflict.
Force majeure refers to a clause that is included in contracts to remove liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.
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