What Is Force Majeure?

 

 ndbs quality redefined line  facebook logo   


 Norman Khubayi - Marikana. SA

Posted: April 03 2014

 

I am in the platinum Belt Rustenburg mines and heard about the term that has to do with mines since there is strike, what does it mean?


  NDBS Answer:

This clause is meant to benefit both parties in a contract. Force majeure would come into play, for example, when you fail to pay the other party you entered into agreement to due to strike by your employees and cannot operate business in order to pay your suppliers.  It protects you from your suppliers applying for bankruptsy.  In this instance mines have to activate this clause as they are not able to make profit while strikes are going on.

ad let us interview you in red


Frequently Asked Questions (FAQs):

 

What is Digital Migration?

What is Tapering And How Does It affect The Market?

What is The Difference Between Repo Rate And Prime Rate?

Must I Sue The Previous Owner For Not Disclosing The Leaking Roof?

Am I Not Suppose To Know My Partner's Business Dealings?

What Percentage Of My Salary Must I Spend On Car Installment?

What Is Selenium?

What Is Credit Amnesty?

What Are FICA Documents?

What Is A Plentiorologist Or Pentierologist?

What Is The Highest Amount One Can Claim Through Small Claims Court In South Africa?

Can I Take My Business Partner To Small Claims Court?

What Is The Difference Between BEE And BBBEE?

At What Percentage Does Value Of  A Car Depreciate In South Africa?

What Is The Difference Between Stakeholders and Shareholders?

What Is A Two Tier System?

How Are Points Determined On Stock Exchange?

What Is Contingency Fee?

Why Are E-Tolls Called Gamtries Or Gumtrees?

What Is The Difference Between Macro and Micro Economic Policies?

What Is The Link Between Khula, SEFA, IDC and The Banks?

I heard Of One Company Director going on Sabbatical Leave, What Does It Mean?

What Is The Difference Between National Health Insurance In South Africa And Obamacare In USA?

What Is The Difference Between SATRIX And JSE?  Can One Buy Shares Directly From JSE Without Via SATRIX?

Can The BAnk Reposses My Assets That I acquired Before Borrowing Their Money Than I am Failing To Pay back?

How Long Does It Take For Money transferred Via Internet (EFT) From One bank to another To Show in One's Account?

What Is Remittance In Business?

Do Law Firms Provide PRO BONO Services To Entrepreneurs?

Money Is Taken From My Account Without My Authorisation, What Must I Do?

What Does It Mean By US Government Shutdown?

What Is Palladium Used For And How Valuable Is It?

 

Click For More FAQs

 

 

 

 

 

 

 

 

 

 Breaking Business News

 Entrepreneurologist

Top Asked Questions:  

  What Determines Petrol Price in SA

  Procedure To Follow When                             Registerning Company In SA

 

 

back to top button

Are you looking for the best web hosting? Be a smart buyer and read hosting reviews before choosing a suitable host.

      New DiscoveryBS (Pty) Ltd ©2011-2015  Terms Of Usel NewsBrand Engage l Advisory-Mentorship l Events l NDBS Services l NDBS FAQs l Contact Us l back to top button

                                                                                                                               Content Management and Designs Proudly Done Inhouse By: New DiscoveryBS

 

             

Joomla Themes designed by Joomla Hosting Reviews