In connection with the crisis in Ukraine, which may lead to non-performance or delay in the performance of contractual obligations, BIA recalls that it issues certificates of force majeure in case of non-performance of contractual obligations.

It is common practice for such certificates to be issued by associations representing the interests of traders, such as industrial associations.

The certificate has international validity - it is issued in both Bulgarian and English. The document provides protection to the company, which has suffered damage caused by force majeure, in accordance with the clause in the commercial contracts for release from liability for non-performance or delay in the performance of a commercial transaction due to force majeure. It should be borne in mind that the trader should notify the other party to the contract as soon as possible of the occurrence of these circumstances.

An exhaustive list of force majeure circumstances could not be provided. Force majeure is an unforeseen or unavoidable event of an extraordinary nature, which occurred after the conclusion of the contract, which causes an objective impossibility to fulfill an obligation. These are circumstances, accidental in nature, unforeseen and unpredictable, and occur independently and despite the will of the person. In addition to natural phenomena (e.g., earthquakes, floods, heavy snowfall, major droughts), force majeure can be events and phenomena of public life - war, embargo, strikes and more.

A force majeure certificate is issued within 3 to 5 working days, depending on the volume of the studied documentation. For the issuance of the certificate it is necessary for the trader to submit a written application to BIA (free text), accompanied by an official document certifying in an indisputable manner the force majeure circumstances, as well as other supporting documents. The certificate is issued after examination of all documentation, as well as additional internal inspection by a team of BIA specialists. The price of the performed service is determined on the basis of the volume of the checked documentation.

For additional information:

Natalia Sabeva, email: natali@bia-bg.com

Phone: 02/987 22 64, 932 09 27, 0888721229

Date: 25.02.2022

Source: Bulgarian Industrial Association

Readed: 2495