Adaptation of the Contract (Collapse of the Basis of the Transaction)

The adaptation of a contract to new conditions by the court where, by reason of extraordinary causes arising after the contract was concluded, such as a pandemic, inflation or rises in exchange rates, the economic balance of the contract is disturbed intolerably to the detriment of one of the parties. Public procurement contracts are as a rule subject to the principle that they may not be amended, under Article 4 of the Public Procurement Contracts Law, so adaptation is not regarded as possible. Relief may, however, be provided by laws or decrees.