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90-minute live streaming program
  • April 21
  • 1:00 - 2:30 pm EST

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OnDemand Course

Force Majeure and Commercial Impracticability in Purchasing and Sales Contracts

April 21

Gain an understanding of what’s covered by your force majeure clause.

Your supplier’s plant was severely damaged by an earthquake and is claiming it is excused from filling your orders. A strike has stranded a shipment, and your supplier claims it is not responsible for any delay. Or your supplier is claiming that a shortage of raw material and spike in prices has made it impossible for it to perform. What are your rights? Is your supplier really excused from fulfilling the contract? If so, what must they do to minimize harm to you, and what actions can you take to protect yourself? This topic will provide you a basic understanding of your rights in these circumstances. You will receive a primer on the types of events that often do, and do not, excuse performance under a force majeure clause or the doctrine of commercial impracticability, the duty for available supply to be allocated among customers, and notifications to which you are entitled. Focused on practical steps, and not just theory, you will be interested in this timely discussion of what to do when disaster strikes.

Learning Objectives

  • You will be able to identify force majeure clauses.
  • You will be able to discuss procedures after a force majeure event.
  • You will be able to explain tips for drafting effective force majeure clauses.
  • You will be able to review the origins of force majeure & commercial impracticability.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Origins of Force Majeure and Commercial Impracticability
When Can Performance Be Excused?
  • Force Majeure Clauses
  • Commercial Impracticability or Failure of Presupposed Conditions Under UCC 2-615
  • Typical Events Excusing Performance and Those That Will Not
  • Emerging Pandemic Issues
Procedures After a Force Majeure Event
  • Notice Requirements
  • Allocation Where Performance Is Only Partially Excused
  • When a Force Majeure Event Ends
Preventing Problems: Tips for Drafting Effective Force Majeure Clauses
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on June 21, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8 including Business Law 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for contract administrators, senior buyers, project directors, controllers, and accountants.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Christopher Tompkins

Christopher Tompkins

Jenner & Block LLP

  • Partner in Jenner & Block LLP’s Chicago office where he practices commercial litigation
  • Extensive experience assisting clients resolve disputes involving a variety of subject matters and venues, including the sale of goods under the Uniform Commercial Code (UCC)
  • Has assisted clients with an array of matters including the failure to supply, early termination, pricing, product quality and breach of warranty, and supplier bankruptcies
  • Counseled corporate clients regarding best contracting practices under the UCC, including review and revision of contracting procedures, and standard contract forms
  • His clients span an array of industries including steel and mining, food and beverage, consumer packaged goods, automotive and heavy manufacturing, electric utilities, chemical companies, and equipment lessors
  • Has written and spoken extensively about these areas, including articles on breach of warranty and electronic contracting
  • Member of the Chicago and American Bar Associations and the international Bar Association
  • J.D. degree, magna cum laude, Loyola University Chicago School of Law; B.A. degree in economics and politics, cum laude, Catholic University of America
  • Can be contacted at 312-840-8686, [email protected] or www.linkedin.com/in/christopherptompkins
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • White Papers and Articles
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  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408342
Published 2018, 2021
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