Companies need to evaluate on a case-by-case basis whether Covid-19 or the governmental measures taken in connection with Covid-19 trigger a force majeure or act of God clause within their specific contracts, as well as other provisions related to material adverse change, material adverse effect, suspension, termination, change of law, change of circumstances, or similar clauses.
As a general rule, an event to qualify as force majeure under Venezuelan law must be unforeseeable, unavoidable and not attributable to the party claiming the force majeure. Depending on the case, force majeure may allow suspension of performance, contract termination or other remedies.
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