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

Farzam Ardalan (), Farzam Ardalan (), Nejad Ali Almasi (), Nejad Ali Almasi (), Mansour Atasheneh () and Mansour Atasheneh ()
Additional contact information
Farzam Ardalan: Islamic Azad University U.A.E. Branch, United Arab Emirates
Farzam Ardalan: University of Tehran, Iran
Nejad Ali Almasi: Islamic Azad University U.A.E. Branch, United Arab Emirates
Nejad Ali Almasi: University of Tehran, Iran
Mansour Atasheneh: Islamic Azad University U.A.E. Branch, United Arab Emirates
Mansour Atasheneh: University of Tehran, Iran

Entrepreneurship and Sustainability Issues, 2017, vol. 5, issue 2, 345-356

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.

Keywords: Buy Back Contracts; investment; oil industry; contracts; Iran economic; case study (search for similar items in EconPapers)
JEL-codes: F10 F14 K12 (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://jssidoi.org/jesi/uploads/articles/18/Ardal ... xporting_country.pdf (application/pdf)
https://jssidoi.org/jesi/article/154 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:5:y:2017:i:2:p:345-356

DOI: 10.9770/jesi.2017.5.2(13)

Access Statistics for this article

Entrepreneurship and Sustainability Issues is currently edited by Manuela Tvaronaviciene

More articles in Entrepreneurship and Sustainability Issues from VsI Entrepreneurship and Sustainability Center
Bibliographic data for series maintained by Manuela Tvaronaviciene ().