Оn 23.12.2015 the new «Regulations on the order of certification of Force Majeure circumstances» (hereinafter – «the Regulations») were adopted by the Russian Chamber of Commerce and Industry (hereinafter – «the Russian CCI») Board instead of the previous ones.
The Regulations have:
- clarified the definition of force majeure circumstance;
- defined the list of force majeure circumstances;
- specified circumstances that do not constitute force majeure;
- precisely described the procedure of certification of force majeure circumstances.