Get-out clause

With the worsening economy and fluctuating energy prices in response to declining global demand, a number of major players in the market have sought to cancel or renegotiate contracts in response to changed economic circumstances. Even seemingly watertight contracts have come under scrutiny; such is the pressure to find savings in a difficult market.

There are a number of contractual provisions, such as force majeure (FM) and price review clauses, that are being examined as corporates attempt to