Take Or Pay Agreement Significato
In the gas sector, clauses generally have the right to negotiate revised pricing if the defined market in question changes over a period of time so that gas can no longer be “economically marketed”. Of course, this does not avoid any dispute (scores of arbitration lawyers, including the authors, have spent many months arbitrating such clauses), but they do render workable against changed market conditions what are often very long term take-or-pay obligations. c) In calculating the seller`s loss and collecting the corresponding debt, the seller took into account the more advantageous terms that the seller himself uses or grants to other buyers. Given the compensatory nature of the take-pay clauses, the general principles of compensation and, in particular, the limits of the extent of the damage apply, such as the obligation to take into account the harm suffered by the victim (in this case the right seller) and the potential gains of the damaging event. (b) the magnitude of the seller`s losses to be educated by the buyer is equal to the losses incurred by its supplier and the supplier has already argued that these losses are being replaced in the sense that there is a direct causal link with the failure of the determined purchaser to take the quantities of natural gas, i.e. the loss of the seller is the direct consequence of the buyer`s failure to receive the quantities of natural gas. . The lex for a is often not the same as the law that governs the treaty. For example, a Chinese company could enter into a contract with an Australian company for the extraction of raw materials in Australia. The law chosen for the payment contract to be paid is an English right, but England would clearly not be a convenient place to hear quarrels.
As a result, the parties choose Australia as a place for dispute resolution (or perhaps Singapore as the seat for arbitration). This means that Australian/Singaporean courts are invited to apply English law. This is quite common and the courts are used to doing so, but it is only an additional consideration to take into account (not least because “sophisticated” dishes get it more easily than others). The law of the dispute settlement place will also have an impact on the procedure of any litigation procedure that may be relevant to the manner in which the use of experts and facts demonstrates various issues. The rules for taking or paying are very common in the energy sector, as suppliers provide significant overheads for the supply of energy units such as natural gas or crude oil and the volatility of energy prices for energy raw materials. The overhead costs associated with the supply of crude oil in relation to a discount are very high. Take or Pay contracts encourage energy suppliers to invest in advance because they have a degree of certainty that they will be able to sell their products. In the absence of rules for making or paying, suppliers bear the risk that the buyer`s persistent energy needs will run out or that higher prices may induce the buyer to break the contract. Suppliers could also delay buyers if they have made overhead investments that lose value if the buyer does not purchase the production as agreed, without the guaranteed minimum product of a buyback or buyback contract. Heists are a kind of transaction cost identified by economist Oliver Williamson and which occur in this type of relational assets.
Therefore, the original term and the purpose of the clause are the interests of both parties, i.e.: