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Liberian Agricultural Corporation, Concession, 1959
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Arbitration and dispute resolution

Any dispute regarding the interpretation of or compliance with the contract shall be submitted to arbitration. In addition, if the... more

Page 10 ( Art. 12 )

Assignment or transfer

Liberian Agricultural Corporation may assign operations or land under the contract to a controlled corporate subsidiary or multiple subsidiaries created... more

Page 9 ( Art. 11 )

Cancellation or termination

The contract may be terminated upon: failure of Liberian Agricultural Corporation to develop 10,000 acres within 5 years (and 1... more

Page 11 ( Arts. 10, 13 )

Corporate headquarters

Monrovia, Liberia

Page 2 ( Preamble )

Custom duties

Liberian Agricultural Corporation shall have the right to import all materials, equipment, and supplies free of all customs duties and... more

Page 5 ( Art. 5 (a) )

Hardship clause or force majeure

Liberian Agricultural Corporation's obligations designated in this contract shall cease to be effective if the company is unable to comply... more

Page 8 ( Art. 9 )

Income tax: exemptions

Liberian Agriculture Corporation is granted an income-tax-free period of 15 years from the date on which it commenced planting the initial development area

Page 6 ( 7 )

Income tax: other

Net income shall be computed without reference to any income arising from sources outside of Liberia, less all deductions allowed... more

Page 6 ( 7 )

Income tax: rate

Starting 15 years after the date at which it begins planting in the concession area, Liberian Agricultural Corporation shall pay... more

Page 6 ( Art. 7 )

Land use outside of concession area

Liberian Agricultural Corporation may occupy and use, within or without the concession areas, the surface of lands necessary for its... more

Page 4 ( Art. 5 (b), Art. 2 )

Location

After the contract is signed, Liberian Agricultural Corporation will examine the two areas of land and determine which land within... more

Page 3 ( Art. 2 )

Name of company executing document

Liberian Agricultural Corporation

Page 2 ( Preamble )

Other - financial/fiscal

During the term of the contract, if the Government provides more favorable terms to a third party than those granted... more

Page 7 ( 7 )

Other - operational

All products and byproducts of the land may be removed and exported as long as local needs are first met before exportation

Page 3 ( Art. 1 )

Renewal or extension of term

At the expiration of the initial term, the contract may be renewed for an additional term by agreement of both parties on the terms and conditions

Page 12 ( Art. 14 )

Resettlement

The Government, upon request of Liberian Agricultural Corporation, will take such measures as may be required to prevent the settling... more

Page 4 ( Art. 4 )

Resource(s)

Rubber, Citrus, Other crops

Page 2 ( Preamble )

Right to access concession area (non-contracting parties)

No concession or right of any kind will be given by the Government to any third party for the land covered under this contract

Page 3 ( Art. 2 )

Signatories, State

John W. Cooper, Secretary of Agriculture and Commerce

Page 13 ( Signatures )

Size of concession area

Up to 600,000 acres (up to 300,000 in each of the two locations, and the two location sizes shall be approximately equal to each other)

Page 3 ( Art. 2 )

State agency, national company or ministry executing the document

Ministry of Agriculture and Commerce

Page 13 ( Signatures )

Surface fees or rent

Liberian Agriculture Corporation shall pay to the Government an annual rental at the rate of $ 0.06 (six cents) per... more

Page 5 ( Art. 3, 4 )

Term

70 years from date of approval by Liberian legislature

Page 11 ( Art. 13 )

Type of contract

Concession

Page 2 ( Preamble )

Withholding tax

The foreign officers and employees of Liberian Agricultural Corporation shall be exempt from direct or personal taxes, levies, duties, or... more

Page 7 ( 7 )

Year of contract signature

1959

Page 2 ( Preamble )
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Metadata

Country

Liberia

Signature Year

1959

Resource

Citrus | Other crops | Rubber

Type of Document

Contract

Open Contracting Identifier

ocds-591adf-0602659203

Disclosure Mode

Government

This document has missing annexes

Land Matrix ID

-

More from

Liberia

More for

Citrus | Other crops | Rubber

This site provides summaries of contracts and their terms to facilitate understanding of their important provisions. These summaries are not interpretations of the documents. Neither the summaries nor the full contracts are complete accounts of all legal obligations related to the projects in question. This site also includes document text that was created automatically; such text may contain errors and differences from the original PDF files. No warranty is made to the accuracy of any content on this website.

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