China issues force majeure certificates to coronavirus-hit businesses

A Chinese international trade promotion agency on Sunday issued the first force majeure certificate to an auto parts manufacturer in eastern China in the wake of the coronavirus epidemic.

The certificates can excuse companies from not performing their contractual obligations due to extraordinary circumstances beyond their control. Companies postponing production under administrative order can apply to invoke force majeure which pardons small businesses for late deliveries.

The move by the China Council for The Promotion of International Trade (CCPIT), officially accredited by the Chinese Ministry of Commerce, was announced late on Thursday.

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China issues force majeure certificates to coronavirus-hit businesses