The scope of party's obligation in reaching result in renegotiation in international petroleum contracts

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Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
To prevent die equilibrium in long term oil and gas contracts, renegotiation clause is put in contracts in order to regain equality and balance of contract. Of course the concept of renegotiation, its charts and its aspects has been realized by other authors, but this question is still unanswered that dose renegotiation clause make an obligation on parties to reach result? In other word is renegotiation, obligation to means or obligation to reach an agreement. It is obvious that renegotiation is not just a simple form in contract, because the reason of putting this clause in contracts is to reach rebalance of contract without re coursing to judiciary system. So if renegotiation dose not make an obligation on parties to reach result, stipulating this clause will become meaning less, and leads to wasting of time. thus our research shows that renegotiation is obligation to means, so parties have to make a deal after re coursing renegotiation in goof faith.
Language:
Persian
Published:
International Legal Research Scientific Quarterly, Volume:16 Issue: 59, 2023
Pages:
25 to 50
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