Read e-book online A Joint Venture Agreement for Seabed Mining PDF

By Dr. iur. Günther Jaenicke, Dr. iur. Erich Schanze LL.M., Wolfgang Hauser LL.M. (auth.)

ISBN-10: 9401743444

ISBN-13: 9789401743440

ISBN-10: 9401743460

ISBN-13: 9789401743464

The 3rd Uni ted international locations convention at the Lawof the ocean is getting ready ideas a ways the institution of a global felony regime governing the exploration and exploitation of the assets of the overseas seabed. The Draft conference at the legislation of the ocean (Informal textual content) of 27 August 1980 which has to this point been the results of the negotiations throughout the previous periods of the convention, presents for a so-called "parallel process" less than which a global "Enterprise" as weIl as nationwide inner most or state-owned businesses can be granted entry to the assets of the foreign seabed below the keep watch over of a world Seabed Authority. The Draft conference additionally envisages the condusion of three way partnership agreements among the foreign firm and nationwide businesses or consortia, and encourages such cooperation via furnish­ ing a variety of incentives. Such joint ventures will most likely play a major half in making the foreign firm operative within the early years of its lifestyles. on the convention issues were expressed no matter if and while the firm as a newcomer will be capable of commence seabed mining and to compete successfully with the nationwide businesses. The Draft conference presents for a few methods and potential to allow the firm to increase its technological and fiscal functions for deep sea mining as early as possible.

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Extra info for A Joint Venture Agreement for Seabed Mining

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56 5: Default and Force Majeure. . . . . . . .. 57 6: Termination ............................ 59 7: Dispute Settlement. . . . . . . . . . .. 60 8: Applicable Law ......................... 61 Part C Article 1: Formation of a Joint Company ........... Article 2: Principal Office ....................... Article 3: Capital Proportion . . . . . . . . . . .. Article 4: Initial Capital .......................... Article 5: Financing, Commercial Exploitation.

2) The provisions of Part A or B of this Agreement may be revised only with the consent of all parties to the Agreement. (3) Any revision of Part Ais furthermore subject to approval by the Board of Directors of the Operating Company. (4) Annex 111, Article 19 of the Convention will be applied accordingly. Commentary, Part B, Article 4. This Article is of particular importance to the Investor. It restates the same rights as are given to a contractor in the non-reserved area. The consent requirements are tuned to the needs of the partners of the Draft Agreement including the Operating Company.

It follows from this provision that the rules and procedures of mandatory transfer of technology contained in the preceding paragraphs of this Article shall not be applicable in the case of joint ventures between the Enterprise and a qualified private or public partner. And, it leaves the parties to such a joint venture agreement complete freedom and flexibility as to how to arrange for the use of the needed technology and the enjoyment by the Enterprise of the benefits therefrom. Transfer of technology in this framework will then be the result of co-operation and the consequence of parallel interests in the exploration and exploitation of the min- 33 ing site, and not merely an additional burdensome charge for obtaining an exploration and exploitation contract in the International Seabed Area.

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A Joint Venture Agreement for Seabed Mining by Dr. iur. Günther Jaenicke, Dr. iur. Erich Schanze LL.M., Wolfgang Hauser LL.M. (auth.)


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