Review Mechanisms 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

Memo/Briefing Note

Publication Date

7-2014

Abstract

Periodic review mechanisms, provisions in contracts that formally require parties to meet at particular intervals to review the terms of the contract or license and consider whether circumstances have changed since the parties’ initial agreement, are a mechanism that may smooth the process of dealing with inevitable changes in circumstances over the long term of extractive industries contracts. This briefing note looks at the use of such mechanisms, through reviewing existing extractive industry agreements, and considers how the requirements have been expressed to-date and their role as a tool to maintain the relationship between the parties. The Brief examines issues that can arise in practice and suggests a new approach to the drafting of these mechanisms.

Disciplines

Environmental Law | International Law | Law | Natural Resources Law | Oil, Gas, and Mineral Law | Securities Law | Transnational Law

Recommended Citation

Jacky Mandelbaum, Salli Anne Swartz & John Hauert, Review Mechanisms in Natural Resource Contracts, (2014).
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/39