Mohammad Mahdi Hajian; Mitra Moosavi
Abstract
Take-or-Pay clause (T-o-P), as an essential element of long-term off-takeand supply contracts in energy sector, particularly in Gas SalesAgreements.The philosophy of T-o-P clause is based on the importance ofthe fact that the seller will receive a level of revenue guaranteed under theagreement that covers ...
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Take-or-Pay clause (T-o-P), as an essential element of long-term off-takeand supply contracts in energy sector, particularly in Gas SalesAgreements.The philosophy of T-o-P clause is based on the importance ofthe fact that the seller will receive a level of revenue guaranteed under theagreement that covers massive financial commitments and debts arising fromthe upstream project. Although T-o-P clause is frequently considered inGSAs, the validity and applicability of this condition is subject to controversyamong different legal systems. Some lawyers have treated this provision as apenalty clause which is invalid and unenforceable. However, others regard itas a valid and enforceable liquidated damage clause.This paper first focuses on uncertainties and ambiguities regarding the legalstatus of take-or-pay provision, particularly in English legal system. Then, itdiscusses the issue by considering the fundamentals of Islamic contract rulesand jurisprudence, particularly Iranian legal system reflected in the IranianCivil Code
azam ansari; Mohammad Mahdi Hagian
Volume 2, Issue 7 , March 2015, , Pages 157-180
Abstract
The disciplines of dispute settlement understanding (DSU) in the World Trade Organization have set out the framework of proceedings in WTO's dispute settlement system. Although WTO's dispute settlement understanding has limited the panels and the appellate body to settle the members' disputes ...
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The disciplines of dispute settlement understanding (DSU) in the World Trade Organization have set out the framework of proceedings in WTO's dispute settlement system. Although WTO's dispute settlement understanding has limited the panels and the appellate body to settle the members' disputes under the covered agreements, they have, in some cases, encountered with issues that have not been mentioned under the dispute settlement understanding and the covered agreements. In such cases, the panels and appellate body, mostly, resort to the general principles of law. Nevertheless, in this context, an important question is posed: What is the legal basis for using the general principles of law by WTO's dispute settlement body? By considering provisions of dispute settlement understanding and relevant case law, this article shows that on the basis of inherent jurisdiction, the panels and the appellate body can use the general principles of law for the purpose of resolving the procedural issues.
