Template:Emissions force majeure overview

Functionally, the definitions of “Force Majeure” under Clause 7.1 the EFET Annex and Clause 13 of the IETA, and “Settlement Disruption Event” under (d)(i)(4) of the ISDA Emissions Annex are the same.

Here is a comparison between IETA and EFET, and here is a comparison between EFET and ISDA.

The differences are to account for the architecture and nomenclature of the different master agreements, though the IETA has a conflict clause favouring Suspension Event over Force Majeure/Settlement Disruption Event, which the EFET does not. The equivalent under the ISDA Emissions Annex is called a Settlement Disruption Event because there is already a Force Majeure under the 2002 ISDA so the ’squad had to call their version something else.