Arbitration and dispute resolution
Any dispute regarding the interpretation of or compliance with the contract shall be submitted to arbitration. In addition, if the...
Assignment or transfer
Liberian Agricultural Corporation may assign operations or land under the contract to a controlled corporate subsidiary or multiple subsidiaries created...
Cancellation or termination
The contract may be terminated upon: failure of Liberian Agricultural Corporation to develop 10,000 acres within 5 years (and 1...
Custom duties
Liberian Agricultural Corporation shall have the right to import all materials, equipment, and supplies free of all customs duties and...
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...
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
Income tax: other
Net income shall be computed without reference to any income arising from sources outside of Liberia, less all deductions allowed...
Income tax: rate
Starting 15 years after the date at which it begins planting in the concession area, Liberian Agricultural Corporation shall pay...
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...
Location
After the contract is signed, Liberian Agricultural Corporation will examine the two areas of land and determine which land within...
Other - financial/fiscal
During the term of the contract, if the Government provides more favorable terms to a third party than those granted...
Other - operational
All products and byproducts of the land may be removed and exported as long as local needs are first met before exportation
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
Resettlement
The Government, upon request of Liberian Agricultural Corporation, will take such measures as may be required to prevent the settling...
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
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)
State agency, national company or ministry executing the document
Ministry of Agriculture and Commerce
Surface fees or rent
Liberian Agriculture Corporation shall pay to the Government an annual rental at the rate of $ 0.06 (six cents) per...
Withholding tax
The foreign officers and employees of Liberian Agricultural Corporation shall be exempt from direct or personal taxes, levies, duties, or...
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
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