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BCCI issues force majeure certificates





The Bulgarian Chamber of Commerce and Industry would like to reiterate that it issues force majeure certificates for Bulgarian traders for exoneration from responsibility in case of failure or delay in the implementation of a commercial contract, resulting from occurring of an "insuperable force" (force majeure).

In 2012 BCCI issued 83 Force Majeure Certificates, thus helping the Bulgarian companies and saved them the payment of penalties in consequence of breach of concluded contracts. Compared to 2011, their number has significantly increased, because of the larger number of events which can be defined as "force majeure" as well as due to the fact that the force majeure certificates issued by BCCI are internationally recognized. They are accepted as evidence also by international arbitration institutions, given the strict compliance with unified rules for their issuance and the role of the chambers of commerce around the world and the existing practice. The Force Majeure Certificate is issued by BCCI in Bulgarian or a foreign language depending on the customer's request.
 
Force majeure circumstances are as follows: natural disasters (heavy rains, floods, snowdrift, blizzards, hailstorms, earthquakes, landslides, etc.), blockade (of roads, borders, etc.), fire, industrial accidents, war, governmental restrictions, strikes, etc.
 
The term "insuperable force" (force majeure) denotes an extraordinary circumstance and/or event that has arisen after the conclusion of the contract, could not be foreseen and is not dependent on the will of the parties.
 
Force Majeure Certificates are issued on the basis of a written application from the affected companies, enclosing the following documents:
 
- An official document issued by an independent authority and proving a force majeure circumstance and the period/duration of the event. BCCI advises traders as to which independent authority attests the occurring relevant force majeure event depending on its nature;
 
- A copy of the concluded contract including the corresponding data for the period and method of implementation;
 
- A statement on behalf of the trader for the amount of non- performance expressed in percentage or otherwise depending on the specifics of the contract;
 
The Chamber suggests that Bulgarian companies include in their foreign trade contracts a recommended Force Majeure Clause. 
 
The absence of a force majeure clause in the contract is no reason for BCCI to refuse to issue such a certificate.
 
For further information call at: 02/ 8117 476, 02/ 8117 551, E-mail: z.georgieva@bcci.bg.
 

04.01.2013

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