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Effects of contractor and employer's obligations in buy back contracts: case study of oil exporting country

Author

Listed:
  • Farzam Ardalan

    (Islamic Azad University U.A.E. Branch, University of Tehran)

  • Nejad Ali Almasi

    (Islamic Azad University U.A.E. Branch, University of Tehran)

  • Mansour Atasheneh

    (Islamic Azad University U.A.E. Branch, University of Tehran)

Abstract

Buy back contracts are one of the variety of investment in oil industry in Iran. To put it another way, the main purpose of contracts such as buy back is to increase investment and attract more capital and foreign currency in the country. As it has been proved in economics and business sciences at international level, when investment is made in a country, it directly or indirectly bears positive impacts on all groups of people. The present research study aimed to examine the juridical status of one of the buy back deal sides under the name of contractor, who is supposed to invest and develop oil fields along with other related issues so that topics such as tax payment, insurance, workers, and civil responsibilities of contractors against employer would be more taken into consideration by contractors and more importantly, contractors could know about different insurance coverages and select their intended one and also abdicate any responsibility resulted from legal crimes from themselves by setting tax returns. This, in turn, helps them to do their business activities without any problem in the host country. Furthermore, employers also have some financial and non-financial obligations to contractors including preparing the required conditions for implementation of the deal substances. Knowing about these factors helps the two sides to sign a legal deal. Finally, the present study was an attempt to present a case study, which would raise the two sides' knowledge about their rights and sign the bay back contract according to predetermined specific legal regulation.

Suggested Citation

  • Farzam Ardalan & Nejad Ali Almasi & Mansour Atasheneh, 2017. "Effects of contractor and employer's obligations in buy back contracts: case study of oil exporting country," Post-Print hal-01706887, HAL.
    • Handle: RePEc:hal:journl:hal-01706887
    DOI: 10.9770/jesi.2017.5.2(13)
    Note: View the original document on HAL open archive server: https://hal.science/hal-01706887
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    Cited by:

    1. Yana S. Matkovskaya & Elena Vechkinzova & Yelena Petrenko & Larissa Steblyakova, 2021. "Problems of Innovative Development of Oil Companies: Actual State, Forecast and Directions for Overcoming the Prolonged Innovation Pause," Energies, MDPI, vol. 14(4), pages 1-24, February.
    2. Lubov Borisovna Sitdikova & Svetlana Jurievna Starodumova, 2019. "Corporate agreement as a means of providing security in the course of entrepreneurship development," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 324-335, September.

    More about this item

    Keywords

    Iran economic; contracts; buy-back contracts; oil industry; investment; case study;
    All these keywords.

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