Statements of Principles

I. General Introduction.
  1. Ethical Conduct in Negotiation
    Follow this link to a members only page to download IAGC's Legal Opinion supporting this SOP.
II. Contracting for Geophysical Services.
 
  1. Interference by Local Population
  2. Force Majeure
  3. Indemnities – Exclusion Zones
  4. Insurance
  5. Liabilities & Indemnities
  6. Marine Mammals
  7. Rights of First Refusal
  8. Termination
  9. Third Party Direct Action
  10. Weather Downtime
  11. Standby Permitting Delays
  12. Intellectual Property
  13. E-Commerce Bidding Procedures
  14. Security of Seismic Operations
Appendix A:  Letter of Award
Appendix B:  Non-Exhaustive List of Stand-By Events
 

Appendix:

  1. Confidentiality of Data
  2. Disclosure of Data to Third Parties
  3. Transfer Fees
  4. E-Commerce
  5. Amortization Policies
  6. Code of Practice
 
Note to readers: If you suspect unethical behavior or business practices, please refer to the IAGC Principle on Ethical Negotiations and Conduct. For more information on the licensing of non-exclusive geophysical data, consult the IAGC Model Geophysical Data-Use License publication, or contact our office in Houston.
 

DISCLAIMER: IAGC COMMERCIAL PRINCIPLES AND GUIDANCE

IAGC's Summary of Key Principles, Statements of Principles, any suggested contractual language and other commercial guidance are offered to the industry by IAGC as discussion and educational tools. Any industry participant is free to use them in any way they wish. 

IAGC's Summary of Key Principles, Statements of Principles, any suggested contractual language and other commercial guidance are provided only for informational purposes, and may not, with respect to any particular contract, be applicable, desirable, enforceable, or conform to the legal or operational requirements of the jurisdiction where the work is to be performed or the transaction is to take place.

Nor are the Summary of Key Principles, Statements of Principles, any suggested contractual language and other commercial guidance intended to establish an attorney-client relationship, or to serve as legal advice from IAGC to any industry participant. Any party intending to use the principles or contractual language in particular contracts should seek review by their legal counsel, and come to their own conclusion as to their applicability, desirability, or enforceability.

IAGC makes no representations or warranties, either expressed or implied, regarding the Summary of Key Principles, Statements of Principles, any suggested contractual language and other commercial guidance, including , but not limited to, representations or warranties about their accuracy, applicability, desirability, enforceability, and/or completeness.

Parties with questions about the Statements of Principles may contact IAGC, at 1225 North Loop West, Suite 220, Houston, Texas 77008; Phone: +1 713 957 8080; Fax: +1 713 957 0008; or email: iagc@iagc.org

rev.20121205.
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