Periodic Review in Natural Resource Contracts

Authors

Jacky Mandelbaum, University of Melbourne
Salli Anne Swartz, Syracuse University College of Law
John Hauert, University of Cologne

Document Type

Article

Publication Date

3-2016

Abstract

Periodic contract review mechanisms, which are provisions in contracts that formally require parties to meet at particular intervals to review the terms of the contract, are mechanisms that may facilitate the process of negotiating contractual changes to accommodate changing circumstances over the term of extractive industries contracts. Through the review of existing extractive industries agreements, this article considers how such review mechanisms have been incorporated into existing contracts and the use of such mechanisms as a tool for maintaining good relationships between the parties. In addition, the article suggests a new approach to the drafting of these mechanisms by negotiating objective criteria to be incorporated into the contract at the commencement of the contractual relationship in order to facilitate the timing and parameters of contract renegotiation when certain triggers occur.

Disciplines

Agriculture Law | Dispute Resolution and Arbitration | International Law | Land Use Law | Law | Natural Resources Law | Oil, Gas, and Mineral Law | Securities Law | Transnational Law

Recommended Citation

Jacky Mandelbaum, Salli Anne Swartz & John Hauert, Periodic Review in Natural Resource Contracts, 7(1) J. Sustainable Dev. L. & Pol'y 116 (2016).
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/115