China trade agency to aid firms by issuing force majeure certificates due to coronavirus spread


Amid the outbreak of the new Coronavirus in China, a Chinese international trade promotion agency offered help to companies who are struggling to cope with their business partners abroad by issuing them force majeure certificates.

The China Council for the Promotion of International Trade (CCPIT) announced its offer on Thursday along with the updated death toll in the country from the virus which has now reached 200.

“Some Chinese companies have suffered severe impacts on goods and logistics and may not be able to fulfill their contracts amid the coronavirus,” said CCPIT.

The agency, however, did not name the companies affected by the epidemic nor did it confirm receiving requests from the companies for force majeure certificates, which will lift liabilities from the companies for not being able to deliver as agreed in the contracts due to extraordinary circumstances beyond their control.

The CCPIT said companies will be issued certificates if they send documents showing proof of delays or cancellation of export and transportation.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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