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Liberia, Sun Yeun Corporation, Timber Sale Contract, Area A-16, 2010
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AllGeneralEnvironmentFiscalOperationsSocialLegal Rules
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Arbitration and dispute resolution

Failure by Sun Yeun Corporation to submit a claim (a written demand seeking the payment of money, adjustment or interpretation... more

Page 36 ( Arts. B1.0, B10.13 )

Assignment or transfer

Sun Yeun Corporation shall not transfer this contract or any interests, rights, privileges or obligations under the contract without prior... more

Page 14 ( Art. B2.3 )

Cancellation or termination

The Forest Development Authority shall terminate the contract if Sun Yeun Corporation commits any of a number of breaches, including:... more

Page 39 ( Art. B10.27 )

Community consultation

Sun Yeun Corporation shall not use public land outside the contract area unless it has express, written permission from the... more

Page 17 ( Arts. B4.12(a) and (b) )

Confidentiality

The parties understand that section 18.15 of the National Forestry Reform Law guarantees to the public free access to all... more

Page 24 ( Art. B5.55 )

Corporate headquarters

Old Road, Congo Town, Monrovia, Liberia

Page 1 ( Cover page, cover page 2 )

Country

Liberia

Page 1 ( Cover page )

Date - contract signature

21/07/2010

Page 1 ( Cover page, cover page 2 )

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

Page 38 ( Art. B10.24(a)(ii) )

Environmental monitoring

The contract may be interrupted by the Forestry Development Authority to prevent environmental degradation or resource damage and to conduct environmental analysis

Page 38 ( Art. B10.24 )

Environmental protections

Sun Yeun Corporation's harvests must be consistent with sustainable management of forest resources. Sun Yeun Corporation shall conduct its operations... more

Page 15 ( Arts. B2.1, B3.3, B6.3, B6.32, B6.34, B6.35, B6.36, B6.37, B6.38 )

Governing law

The laws of the Republic of Liberia govern the contract

Page 16 ( Art. B3.41 )

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... more

Page 37 ( Art. B10.23 )

Income tax: rate

Sun Yeun Corporation shall be subject to income tax under the Revenue Code of Liberia

Page 32 ( Art. B8.0 )

Infrastructure

Sun Yeun Corporation has rights under section 18.8 of the National Forestry Reform Law of 2006 concerning construction of infrastructure... more

Page 18 ( Arts. B4.21, B4.22(a), (b) and (c), B6.18, B6.5, B4.24(a) )

Infrastructure - third party use

Sun Yeun Corporation shall allow third party use of any roads constructed or maintained by it as long as such... more

Page 19 ( Art. B4.23(a) and (c) )

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... more

Page 17 ( Arts. B4.12(a) and (d), B4.13(a) and © )

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

Page 14 ( Art. B3.12 )

Local employment

Sun Yeun Corporation shall give preference to competent and qualified individuals living in and near the contract area, particularly to... more

Page 15 ( Art. B3.23 )

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... more

Page 7 ( Art. A1 )

Name of company executing document

Sun Yeun Corporation

Page 1 ( Cover page, cover page 2 )

Name of field, block, deposit or site

Region: Sector #1; Forest Area: TSC Area "A-16"

Page 2 ( Cover page 2 )

Other - operational

Sun Yeun Corporation must include an up-to-date business plan demonstrating it has the technical and financial capacity to manage the... more

Page 14 ( Art. B3.13 )

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... more

Page 28 ( Art. B6.31 )

Project title

Contract to Manage Timber Sale Area: A-16

Page 1 ( Cover page, cover page 2 )

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... more

Page 15 ( Arts. B3.21 - B3.22 )

Renewal or extension of term

The contract is not renewable

Page 13 ( Art. B2.2 )

Reporting requirements

Sun Yeun Corporation consents to the Government or a designated representative conducting reasonable inspections of the contract area and premises.... more

Page 22 ( Arts. B5.3, B5.51 - B5.53 )

Resource(s)

Timber (Wood)

Page 13 ( Preamble, Art. B2.1 )

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... more

Page 13 ( Arts. B4.23(b), B2.11 )

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,... more

Page 29 ( Art. B6.34 )

Signatories, company

President/CEO, Sun Yeun Corporation

Page 43 ( Signature page )

Signatories, State

Managing Director, Forestry Development Authority ; In-House Lawyer, Forestry Development Authority

Page 43 ( Signature page )

Size of concession area

5,000 hectares

Page 7 ( Art. A1 )

Stabilization

If any statute or regulation referred to in the contract is repealed or amended, the contract shall be taken to... more

Page 9 ( Art. B1.0(iii) )

State agency, national company or ministry executing the document

Forestry Development Authority

Page 1 ( Cover page, cover page 2 )

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... more

Page 8 ( Arts. A4, B8.11 - B8.14 )

Term

3 years

Page 2 ( Cover page 2, art. B8.11(c) )

Type of contract

Timber Sale Contract

Page 1 ( Cover page, cover page 2 )

Water use

Subject to the written approval of the Government and the Social Agreement (as called for under Forestry Development Authority Regulation... more

Page 20 ( Art. B4.3 )

Year of contract signature

2010

Page 1 ( Cover page, cover page 2 )
Loading...
Metadata

Country

Liberia

Signature Year

2010

Resource

Timber (Wood)

Type of Document

Contract

Open Contracting Identifier

ocds-591adf-8366243767

Disclosure Mode

-

Land Matrix ID

#5361

Associated Documents

Sun Yeun Corporation Ltd, Porkpa and Golakonneh District, Social Agreement, ...

More from

Liberia

More for

Timber (Wood)

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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