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Force Majeure clauses in contracts should be optimized to reduce costs and litigation potential.

Force Majeure clauses in contracts should be optimized to reduce costs and litigation potential. Indeed, any time spent in the aftermath of a mishap “discussing” if the event was Force Majeure, negligence or had other causes severely impacts operations and can increase the costs of consequences. Thus the optimization of Force Majeure formulation, if it was possible to renegotiate contracts in the future, or for any new contract, would constitute an important proactive mitigative measure with very large ROI (Return…

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Crisis Forecast, One Year and 3 months Later (reality check)

In the “Economic Downturn Magnitude and Duration Quantitative Study” we published in November 2008 a Crisis Forecast in which we established a few classes of “Measurements of Magnitude” for the crisis to come. Now let’s analyze more in detail the case of Greece (not a G20 country, but a Euro country). What can be read in the news is that a “new round of painful austerity measures, including salary cuts for civil servants, pension freezes and tax hikes” is going…

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