Australia’s prosperous energy and resources sector is founded on long term contracts. Long term contracts give rise to a variety of difficult conceptual and practical issues that must be confronted by commercial lawyers and energy and resource professionals on a daily basis, ranging from negotiation and documentation through to interpretation and breach.
Questions as to the operation, nature, and effect of long term contracts will continue to assume central importance to Australia as a whole in circumstances where the Asian economies, particularly China, Japan, and India, are anxious for security of supply in relation to commodities.This book confronts some of the major issues under long term contracts from both legal and practical perspectives.
Foreword
Notes on Contributors
Table of Cases
Table of Statutes
Introduction
Commercial Considerations
Introduction
Kanaga Dharmananda SC and Leon Firios
Commercial Perspectives on Long Term Contracting
Selwyn D’Souza
Japanese Perspectives on Long Term Contracts
Rupert Lewi
Chinese Perspectives on Long Term Contracts
Chris Lockwood
Drafting
Introduction
Kanaga Dharmananda SC and Leon Firios
Paying Up: Price Adjustment
Michelle Cole and Sharon Wilson
Getting Out: Termination
Barry Irwin
Practical Guidelines for the Drafting of Long Term Contracts
John Kelly
Duties and Liabilities
Introduction
Kanaga Dharmananda SC and Leon Firios
Long Term Contracts: Principles for Determining Content
The Hon Justice Carmel McLure
Fiduciary and Good Faith Obligations under Long Term Contracts
Paul Finn
Commentary on Duties and Liabilities
Gavin Ryan
State Agreements
Introduction
Kanaga Dharmananda SC and Leon Firios
Parliamentary-ratified Agreements in the Resources Sector
John Southalan
Frustration & Force Majeure
Introduction
Kanaga Dharmananda SC and Leon Firios
The Law of Force Majeure and the Planning of Long Term Contracts
Professor David Campbell
Commentary on the Law of Frustration and Force Majeure
Anthony Patten
Competition Law
Introduction
Kanaga Dharmananda SC and Leon Firios
Competition Law Aspects of Long Term Contracts
Francis Douglas QC
Reflections on Competition Law Issues
Colin Lockhart
Remedies
Introduction
Kanaga Dharmananda SC and Leon Firios
Damages for Breach of Long Term Contracts
Brahma Dharmananda SC
The Design of Contract Damages
Professor George Triantis
A Financial Perspective on Proving Damages
Owain Stone
Dispute Resolution and Enforcement
Introduction
Kanaga Dharmananda SC and Leon Firios
Perspectives on Choice of Law, Enforcement, Investment Treaties and Arbitration Clauses
Lucy Reed
The Arbitration of Disputes under Long Term Contracts
Stephen Boyle
Practical Perspectives on Dispute Resolution and Enforcement
Mark Darian-Smith
Conclusion: The History and Destiny of Long Term Contracts
The Hon Chief Justice Wayne Martin AC
Sample Clauses
Index
