Abstract
The purpose of this chapter is to contribute to a better understanding on the nature of knock-for-knock clauses and how they fit in the Brazilian legal framework, with special focus on the Brazilian oil and gas industry. Historically, knock-for-knock clauses have not deserved a lot of attention from Brazilian scholars, but some recent developments in the Brazilian oil and gas industry indicate a trend of increasing use of such clauses as Petrobras starts considering the use of such clauses and more independent companies are starting to operate in Brazilian upstream industry and demand the use of these clauses. The chapter argues that Brazilian law provides a supportive backdrop to knock-for-knock clauses, even though it contains certain broad and vague concepts that may be somehow used to restrict the applicability of such provisions.
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