Contract frustration insurance

{
  "id": "MLC-T-INS-000945",
  "term": "Contract frustration insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage that protects a party against financial losses incurred when a commercial contract becomes impossible to perform due to unforeseen external events beyond the control of either party. This can include political risks, such as government actions, war, or civil unrest, that prevent the fulfillment of contractual obligations. It is often used in international trade and project finance.",
  "url": "https://mlchart.com/terminology/insurance/contract-frustration-insurance/"
}