One aim of the OGITF Regulations and Licensing Workgroup has been the improvement of the working relationships between licensees. With this in mind, the Streamlined Commercial Agreements sub-group has developed a number of agreements for use throughout the industry.
Streamline Commercial Agreements
These documents have been subject to detailed review by a broad cross
section of the industry, and are fit for purpose, representing as they do,
best current practice*.
It is hoped that regular use of the Confidentiality Agreement and the Transaction
Agreements, will greatly facilitate the licence trading process for all parties
concerned, and therefore be of real benefit to the industry as a whole.
These documents will remain on the UKOOA website and although they will be
"owned" by UKOOA, there will be a link with the "LIFT" website. The UKOOA legal
committee will make periodic reviews of these documents, and will ensure that
they are updated as necessary. If you have any comments that you would like to
make on these documents, then please use the feedback form so that all comments can
be consistently collated and reviewed by the UKOOA committee.
*NB: The Pipeline Crossing Agreement has had a more restricted review in that
only a limited number of companies (albeit ones with a great amount of experience
in this area) expressed an interest in commenting on this document.