Is Covid-19 a “Force Majeure” in commercial contracts?

March 24, 2020 Contract Law

Due to the outbreak of the respiratory infection caused by a new coronavirus (Covid-19), on March 11, 2020, WHO declared a worldwide pandemic. This disease continues to inflict a considerable amount of damage on domestic commercial activities and the international economy as well. Therefore, many companies are concerned about the impact of Covid-19, especially with regard to the liability and compensation for breach of commercial contracts.  Is Covid-19 a “force majeure” to mitigate or exempt from contractual liabilities?