Advance Preparations of Parties for Changing Circumstances of International Business Contracts - in relation to adaption of contracts -

국제계약(國際契約)의 사정변경(事情變更)에 대한 당사자(當事者)의 사전대응책(事前對應策) - 계약(契約)의 적응(適應)과 관련하여 -

Change of circumstances subsequent to formation of international business contract raises two issues on both parties' obligation to perform business transaction concerned. One is impossibility of performance due to events beyond control of parties and the other is adaption of contract. In Anglo-American Law such an impossibility of performance is provided by the doctrine of Frustration and the doctrine of Practicability(UCC 2-615). In practice a "force majeure" clause should be included in contract defining the parties' mutual rights and duties if certain events beyond their control occur to safeguard themselves against possible impossibility. On the other hand the tendency of international trade is that alongside sales contracts, there are contract for supplies, for furnishing raw materials, for building industrial complexes, and transferring technology. One characteristic of these agreements is their duration. For in order to carry out these agreements, it is necessary to complete a series of closely interrelated operations which, in the normal course of events, take place over a number of years. It is often difficult for the parties, when finalizing their contract, to have a full grasp of all of the factors governing their relations. With a view to resolving difficulties such as compromise the continuous performance of a contract, parties may insert a regulatory clause in their contract providing for intervention by a third person after stating in specific and detailed fashion the circumstances in which their contract may be adapted.