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The Statistical Impact of the COVID-19 Pandemic on the Implementation of International Contractual Obligations |
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PP: 891-902 |
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doi:10.18576/jsap/130304
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Author(s) |
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Sarah Al-Arasi,
Omar Almakhzoumi,
Hanadi ALemady,
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Abstract |
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| Since the economic conditions in the performance of international commercial contracts are constantly changing, new concepts are introduced regarding the practical and legal challenges of international commercial contracts in view of the methods to cope with this changing situation. The rules and legal system of national legislation lack effectiveness in resolving issues related to the changing conditions in the field of international commercial contracts. The provisions of the force majeure theory are no longer suitable for these changing circumstances, because giving judges the power to modify contracts within the scope of the law does not conform to the reality of international commercial contracts, which usually contain clauses that modify the contract under certain circumstances. The practice of resorting to arbitration. Likewise, the traditional conditions of superior force theory (impossibility) no longer fit the evolving current situation. The reality of international trade agreements therefore requires solutions to respond to these changes in economic conditions, particularly through renegotiation or revision of agreements.
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