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                      Xinhua Credit
                      China Macro-economy

                      CCPIT issues 1600-odd force majeure proofs to help safeguard enterprises' rights amid epidemic

                      February 17, 2020


                      Abstract : China Council for the Promotion of International Trade (CCPIT) has issued more than 1600 factual proofs of force majeure as of February 14 to help enterprises in China protect their legal rights and interests amid the novel coronavirus pneumonia epidemic.

                      BEIJING, Feb. 17 (Xinhua) -- China Council for the Promotion of International Trade (CCPIT) has issued more than 1600 factual proofs of force majeure as of February 14 to help enterprises in China protect their legal rights and interests amid the novel coronavirus pneumonia epidemic, reported the Xinhua-run Shanghai Securities News on Sunday quoting CCPIT data.

                      According to the national foreign trade and investment promotion agency in China, these proofs involve contract value from tens of thousands of yuan to tens of billions of yuan.

                      The force majeure proof is an important legal evidence for a contract party to claim partial or complete exemption from liability for non-performance, incomplete performance or delayed performance of the contract.

                      It is learned that currently 26 provinces and municipalities have carried out this kind of business, and a total of 1,615 such proofs have been issued by the trade promotion system in China, involving over 30 sectors with a total contract value of about 109.9 billion yuan.

                      CCPIT also launched an "Internet + authentication" platform, advocating to help enterprises better learn how to use force majeure proofs to protect their own rights through non-face-to-face and non-contact working modes. (Edited by Gu Shanshan)

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                      Keyword: rights CCPIT

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