Yes, FM is recognized in the Civil and Commercial Codes and related laws.
The principle in civil/commercial matters is that the will of the parties is the "supreme law" between them and that they are obliged to comply in the terms agreed upon them (pacta sunt servanda); however, if the parties did not agree any covenants or clauses in regards to FM, the statutory provisions in such regard would apply to rule the relationship among those parties.
The party invoking the FM would bear the burden of proof in regards to the existence of the event outside of the contracting parties' control that excuse or delay the invoking party's performance, or permit the cancellation of the contract.
It is common that contracts require that a party seeking to assert FM as a basis for suspending or terminating performance must provide notice to its counterparty with certain formalities (i.e., in written, in certain domicile, etc.), and failure to timely send such notice may result in waiver or have other adverse consequences.