Renegotiation and Contract Adaptation in the International Investment Projects: Applicable Legal Principles and Industry Practices
Article from: OGEL 2 (2003), in Roundup of Articles
Summary
This study focuses on the law and practice with respect to renegotiation of long-term international investment agreements - particularly in the natural resources and energy sector. The study analyses the concept of renegotiation in the context of long-term international commercial contracts - particularly in the upstream petroleum industry. It discusses the reasons governments and companies have for insisting on, and accommodating, renegotiation. It provides a survey of legal issues which are relevant to renegotiation - first, naturally, the question of what law is applicable, second, how ...