Content and scope of contractual renegotiation due to change of circumstances

Abstract

This article examines, from a general perspective, the existence of a duty to renegotiate a contract in the event of a profound and unforeseen change of circumstances. This obligation, which applies to both the party that benefits from the change of circumstances and the party that is adversely affected by it, requires a dynamic application of the principle of good faith throughout the contractual renegotiation process. This entails a range of behaviors that all parties must observe during the execution of a contract. However, when renegotiation is materialized, determining its precise content and scope can be challenging, particularly when the parties use different contractual techniques.