Debt settlement problems caused by force majeure

Abstract

The objective of this research is to study the theory of payment problems arising from the awareness of Thailand and other countries by analyzing, comparing and suggesting legal assistance regarding payment problems. Applied to Thai law From the study found that The problem of debt settlement due to force majeure and the very difficult case of settlement (Hardship Clauses) is usually specified in the international trading contract. To protect the parties in the event of any event, in the event that CISG applies to the contract, the parties can specify more exemption from liability than that provided in Article 79, which must be considered in accordance with the intent of that party.Hardship Clauses are used for long-term contracts and for events that have occurred and change the balance of the contracts. (Equilibrium), for example, in the case of sudden currency devaluation, Hardship Clauses are usually used to adjust contracts to be in line with changing circumstances. To be fair with international trade contracts that have a long contract period without wanting to terminate the contract but still keep the contract effective