This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Interface Consulting Expert Provides Insight On Force Majeure Issues In Oil And Gas Industry Matters

HOUSTON, May 2, 2013 /PRNewswire/ --  Frank G. Adams, PE, president of Interface Consulting International, Inc., collaborated with Houston-based law firm Legge Farrow as part of a two-day EUCI course, "Contract Risk Management for Upstream Oil & Gas," April 29-30, 2013, held at the Houston Marriott West Loop.


The EUCI course covered critical contracting issues facing the upstream oil and gas industry, both onshore and offshore. Glenn Legge, of Legge Farrow, and Adams co-presented two course sections on the first day of the seminar and addressed the following key issues from their unique perspective:
  • Interpreting force majeure clauses in energy contracts
  • Examining who is responsible for interpreting the contract
  • Quantifying force majeure claims
  • Determining the implications of declaring force majeure
  • Mitigating dispute risks from force majeure claims
  • Examining the interplay between force majeure and scope of work
  • Weighing the benefits of litigation versus arbitration from an expert point of view

As part of the first presentation, " Force Majeure Clauses: Now What?" Legge offered legal insight and Adams provided an international construction perspective on force majeure events and associated force majeure contract issues. Adams and Legge addressed both the typical and unusual force majeure events covered under certain contracts; explored the contractual, legal, and financial implications of declaring force majeure; and presented contract language to address force majeure situations.

"What is important to remember about force majeure is that force majeure is whatever the contract says it is," said Adams. "The contract needs to specifically define potential force majeure events and prudently preface the list of force majeure events with, 'including without limitation.'"

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs