China to offer force majeure certificates amid coronavirus outbreak
CCPIT, an international trade promotion agency accredited with the Chinese Ministry of Commerce, said: “Some enterprises in China have suffered severe impacts on goods and logistics, which may result in the failure to perform international trade contracts or contractual contracts.”
CCPIT said that businesses affected by the coronavirus outbreak may apply to the agency for a certificate related to force majeure. Applicant companies must provide legitimate documents, including proof of delays or cancellation of transportation, exports contracts and customs declaration, the agency noted.
The outbreak has prompted Chinese officials to extend the Lunar New Year holiday in an attempt to prevent the spread of the virus, raising concerns over the post-holiday demand in Asian polymer markets.
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