Introduction

The revision of existing contractual arrangements between transnational corporations (TNC's) and host countries has been of primordial concern to developing countries particularly in the area of natural resources. Host countries have felt that terms and conditions, imposed upon them for extremely long durations in times of highly unequal bargaining power and ability, had to be revised in order to allow them to attain material and effective sovereignty over their non-renewable natural resources. Policies based upon such objectives have clashed strongly with the interests of TNC's in ...