Assignment or transfer
Atlantic may not assign or transfer the Contract or any interests, rights, privileges, or obligations under it, without the prior...
Audit mechanisms - financial obligations
The Forestry Development Authority must convene an ad hoc Contract audit committee to promptly complete an annual Contract audit including...
Cancellation or termination
In the case of a material breach by Atlantic, the Forest Development Authority shall give written Atlantic notice to suspect...
Corporate headquarters
Lara Building, Suite 32, Randall Street, Monrovia, Liberia
Environmental impact assessment and management plan
Environmental protections
Atlantic Resources shall conduct all operations and activities using only environmentally sound forest harvesting practices that conform to: i) the...
Hardship clause or force majeure
A force majeure is defined as being any cause beyond the reasonable control of the parties and which the parties...
Infrastructure
Atlantic Resources shall ensure that all infrastructure and works installed in relation to the contract comply with the Liberian code...
Land use outside of concession area
Use of Public Lands Outside Contract Area: Atlantic Resources may not use public land outside the contract area, unless Atlantic...
Local development agreement
Before the first annual operating season, Atlantic Resources must negotiate new 5-year social agreements for the benefit of affected communities...
Local employment
In the selection of employees to conduct its operations under the contract, Atlantic Resources must give preference to competent and...
Location
Forest Management Contract Area "P." Lies within Latitudes 4°48'0'' - 5°6'0'' North of the Equator and Longitudes 8°0'0'' - 8°18'0''...
Name of field, block, deposit or site
Other - financial/fiscal
Contract Administration Fees: Atlantic Resources shall pay the Government an annual contract administration fee as required under Section 32 of...
Other - miscellaneous
Atlantic must at all times indemnify and hold the Government and its officers and agents harmless from all claims and...
Other - operational
At least 90 days before the first annual operating season, Atlantic Resources must submit to the Forestry Development Authority a...
Physical security or protection of property
Atlantic Resources must never use private security guards armed with firearms, machetes or other life-threatening weapons. Atlantic Resources must not...
Project title
Protections or benefits for employees, dependents, or others
Safety: Atlantic Resources must follow internationally recognized, modern safety precautions in all activities, as are used elsewhere by others under...
Renewal or extension of term
The contract is not renewable. Limited extensions are possible under Section B8.5 (Force Majeure).
Reporting requirements
Annual Reports: Atlantic must, within 90 days of completing operations under each annual operational plan, provide to Forestry Development Authority...
Right to access concession area (non-contracting parties)
Atlantic must: a) allow the public to use, free of charge, any roads constructed and/or maintained by Atlantic, provided that...
Sacred, cultural, or historical sites
Atlantic Resources must identify in its annual operational plan areas requiring special measures for the protection of plants, animals and...
State agency, national company or ministry executing the document
Forestry Development Authority
Surface fees or rent
Atlantic Resources shall pay an annual area fee as required under sections 33 of the Forestry Development Authority Regulation 107-7....
Value addition or downstream activities
Atlantic Resources shall install a sawmill for the value of US$ 2.2 million within 3 years from the contract effective Date). Plywood Mill/Vineer US$ 20 million
Water use
Subject to the written approval of the Government, Atlantic Resources may use free of charge any water found within the...
Country
Liberia
Signature Year
2009
Resource
Timber (Wood)
Type of Document
Contract
Open Contracting Identifier
ocds-591adf-2644859769
Disclosure Mode
Government
Land Matrix ID
Atlantic Resources Limited, Area-P, Grand Kru, Maryland & River Gee ...
Atlantic Resources Limited, Area-P, Maryland, River Gee, Grand Kru Counties, ...
Atlantic Resources Limited, Area-P, Maryland, River Gee, Grand Kru Counties, ...
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