AIG BAKER'S CLAIMS OF FORCE MAJEURE

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AIG BAKER'S CLAIMS OF FORCE MAJEURE

Post  Bubba on Thu Dec 20, 2007 5:26 am

It is reported that AIG Baker is claiming 180 days of force majeure (acts of God) for delays to the construction of Levins Bend. These delays are claimed to be due to bad weather, material and labor delays beyond the developer's control. AIG Baker has paid weather consultant, Dr. Bill Williams, and an economic consultant to generate and substantiate their claim of 180 days force majeure. As of 12/20/07, AIG Baker has exceeded their two year Purchase Agreement completion deadline by about 270 days. Even if the arbitrators bite on AIG Baker's questionable claims of 180 days force majeure, AIG Baker is still 90 days beyond their claim of 180 days force majeure.


Last edited by on Thu Dec 20, 2007 10:57 pm; edited 5 times in total

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Re: AIG BAKER'S CLAIMS OF FORCE MAJEURE

Post  Bubba on Thu Dec 20, 2007 5:34 am

Invoking a Force Majeure Clause

"Generally, a party may invoke a force majeure clause if an enumerated event occurs that is out of the party's control and prevents performance of a contractual obligation. The burden of proof is on the party seeking to invoke the force majeure clause. The force majeure event may either suspend or excuse a party's performance. It is imperative that the party invoking a force majeure clause provide written notice to the other party. This permits the party that is not in default to mitigate against the effects of a force majeure event."

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