Arbitration and dispute resolution
Failure by Sun Yeun Corporation to submit a claim (a written demand seeking the payment of money, adjustment or interpretation...
Assignment or transfer
Sun Yeun Corporation shall not transfer this contract or any interests, rights, privileges or obligations under the contract without prior...
Cancellation or termination
The Forest Development Authority shall terminate the contract if Sun Yeun Corporation commits any of a number of breaches, including:...
Community consultation
Sun Yeun Corporation shall not use public land outside the contract area unless it has express, written permission from the...
Confidentiality
The parties understand that section 18.15 of the National Forestry Reform Law guarantees to the public free access to all...
Environmental impact assessment and management plan
The contract may be interrupted by the Forestry Development Authority to ensure consistency with the Environmental Impact Assessment and related documents
Environmental monitoring
The contract may be interrupted by the Forestry Development Authority to prevent environmental degradation or resource damage and to conduct environmental analysis
Environmental protections
Sun Yeun Corporation's harvests must be consistent with sustainable management of forest resources. Sun Yeun Corporation shall conduct its operations...
Hardship clause or force majeure
Force majeure means any unforeseeable cause beyond the reasonable control of the parties that prevents the parties from performing contractual...
Income tax: rate
Sun Yeun Corporation shall be subject to income tax under the Revenue Code of Liberia
Infrastructure
Sun Yeun Corporation has rights under section 18.8 of the National Forestry Reform Law of 2006 concerning construction of infrastructure...
Infrastructure - third party use
Sun Yeun Corporation shall allow third party use of any roads constructed or maintained by it as long as such...
Land use outside of concession area
Sun Yeun Corporation shall not use public land outside the contract area unless it has express, written permission from the...
Local development agreement
Sun Yeun Corporation shall execute the Social Agreements required under Forestry Development Authority Regulation 105-07 before the first annual operating season
Local employment
Sun Yeun Corporation shall give preference to competent and qualified individuals living in and near the contract area, particularly to...
Location
Timber Sale Contract A-16 lies within Latitudes 7°7'12'' - 7°10'48'' North of the equator and Longitudes 11°3'36'' - 11°12'0'' West...
Name of field, block, deposit or site
Region: Sector #1; Forest Area: TSC Area "A-16"
Other - operational
Sun Yeun Corporation must include an up-to-date business plan demonstrating it has the technical and financial capacity to manage the...
Physical security or protection of property
Sun Yeun Corporation shall use all reasonable means to prevent encroachment by unauthorized persons into the contract area, but it...
Protections or benefits for employees, dependents, or others
Sun Yeun Corporation shall follow internationally recognized, modern safety precautions in all activities and shall comply with written safety instructions...
Reporting requirements
Sun Yeun Corporation consents to the Government or a designated representative conducting reasonable inspections of the contract area and premises....
Right to access concession area (non-contracting parties)
Sun Yeun Corporation must allow the public to have access over the contract area provided that such access does not...
Sacred, cultural, or historical sites
Sun Yeun Corporation shall identify areas requiring special measures for the protection of cultural resources in the annual operational plan,...
Signatories, State
Managing Director, Forestry Development Authority ; In-House Lawyer, Forestry Development Authority
Stabilization
If any statute or regulation referred to in the contract is repealed or amended, the contract shall be taken to...
State agency, national company or ministry executing the document
Forestry Development Authority
Surface fees or rent
The land rental bid is US$ 16.00 per hectare per year. The land rental bid payment is based on the...
Water use
Subject to the written approval of the Government and the Social Agreement (as called for under Forestry Development Authority Regulation...
Country
Liberia
Signature Year
2010
Resource
Timber (Wood)
Type of Document
Contract
Open Contracting Identifier
ocds-591adf-8366243767
Disclosure Mode
-
Land Matrix ID
Sun Yeun Corporation Ltd, Porkpa and Golakonneh District, Social Agreement, ...
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