Depends on the wording of the FM clause. If a FM clause requires any steps to be taken to invoke it, such steps should be followed.
Contracts typically require that a party seeking to assert FM as a basis for suspending or terminating performance must provide notice to its counterpart. Failure to timely send such notice may result in waiver or have other adverse consequences.
If the FM clause is silent, a party should ensure that it gives the counter-party seasonable/timely notice of the FM event.
For contracts involving the sale of goods, the Uniform Commercial Code requires that the party in receipt of An FM notice respond within thirty days, or the contract will lapse with respect to any affected deliveries.
Depends on what is provided in the contract and which state jurisdiction is making the determination.
Common types of relief include:
Many US states recognize common law doctrines such as "impossibility" and "frustration of purpose," which may be invoked to excuse contract performance under certain circumstances. A more limited number of states recognize the doctrine of commercial "impracticability." But parties choosing to invoke these common law doctrines often face significant hurdles placed by state laws.
In state jurisdictions like New York and Texas, which construe FM clauses narrowly, the inclusion of an FM clause may preclude a party from relying upon common law doctrines.