Change in circumstances (or unforeseen event) in concessions

Abstract

 This study analyses the concept of a change in circumstances or unforeseen events, focusing on its foundations, requirements, and effects, with specific reference to the context of administrative concession contracts. In this regard, particular attention is given, within the analysis of the requirement of abnormality of the change, to contractual risk allocation clauses (which are typical of such contracts) and to the question of whether these clauses can exclude or condition the application of this legal concept.