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Guam
Preferential Right to Purchase Production

Guam Preferential Right to Purchase Production

Q: What is preferential right to purchase?

1. n. Oil and Gas Business The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

Control #:

US-OG-505

Format:

Instant download

Description

This is a Preferential Right to Purchase Production form. The assignor reserves the right at any time and from time to time to purchase or designate a purchaser for all of assignees oil and other liquid hydrocarbons produced and saved from the interests in the lands and leases that are the subject of this assignment.

Guam Preferential Right to Purchase Production is a legal provision that grants certain individuals or entities the first opportunity to purchase or lease property or products produced in Guam. This preferential right ensures that specific stakeholders are given priority when it comes to buying or leasing assets, thereby safeguarding their interests and promoting local economic growth. Under the Guam Preferential Right to Purchase Production, there are various types of preferential rights that can be considered. These include: 1. Agricultural Preferential Right: This type of preferential right focuses on promoting and supporting the local agriculture industry in Guam. It allows farmers and agricultural businesses to have the first opportunity to purchase or lease locally-produced agricultural products, land, or other related assets. 2. Industrial Preferential Right: The industrial preferential right aims to benefit local industries by providing them with the first option to acquire or lease goods, machinery, or property produced within Guam. This encourages the growth of local manufacturing and production sectors while protecting their interests from outside competition. 3. Cultural Preferential Right: This type of preferential right is specifically designed to protect and promote the unique cultural heritage of Guam. It grants individuals, organizations, or communities with a specific interest in preserving cultural artifacts, traditional crafts, or cultural properties the primary option to purchase or lease such items. 4. Environmental Preferential Right: The environmental preferential right focuses on preserving and conserving Guam's natural resources. It grants environmental organizations or individuals with an interest in sustainable development the first opportunity to purchase or lease environmentally sensitive areas or products, such as protected lands or eco-friendly products. Overall, the Guam Preferential Right to Purchase Production encompasses different types of preferential rights, each tailored to protect and promote specific sectors or values that contribute to Guam's overall socio-economic development.

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FAQ

1. n. [Oil and Gas Business] The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.

Preferential Purchase Rights means rights of any Person (other than rights of condemnation, eminent domain, or other similar rights of any Person) to purchase or acquire any interest in any of the Purchased Assets, including rights that are conditional upon a sale of any Purchased Assets or any other event or condition ...

The Guam Procurement Act establishes procedures and remedies to resolve contract and breach of contract controversies between the territory and a contractor. It is the territory's policy, consistent with this Act, to try to resolve all controversies by mutual agreement without litigation.

Under federal procurement law, there are certain activities that are deemed ?inherently governmental functions? (e.g., conducting criminal investigations, commanding military forces, or conducting foreign relations), which must be performed by government employees and cannot be performed by contractors.

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Written determinations required by this Chapter shall be retained in the appropriate official file of the Chief Procurement Officer or the purchasing agency. by A Chapter · Cited by 6 — shall have the power to compel attendance and testimony of, and production of documents by, any employee of the government of Guam,.Key Resources to look up Tariff (Duty) Rates ... Customs Info Database (Descartes) - This tariff search tool allows you to search duty rates MFN (standard) and ... Waivers. 661.9 Application for waivers. 661.11 Rolling stock procurements. 661.12 Certification requirement for procurement of buses, other rolling stock and ... Jun 17, 2022 — In order to register as an interested company or potential offeror, you must submit the Acknowledgement of Receipt of RFP In the event any ... All aquaculture products presently produced on Guam are marketed on Guam with the ... produce in its natural state is not required to purchase a business license. “Nonqualifying country component” means a component mined, produced, or manufactured in a nonqualifying country. “Qualifying country” means a country with a ... All U.S. non-preferential rules of origin schemes employ the “wholly obtained” criterion for goods that are wholly the growth, product, or manufacture of a ... May 16, 2020 — The farmers have indicated to me that they believe many agencies are not giving preference to local produce and local fish as is required by the ... Aug 2, 2023 — This includes incorporating a “Buy America” preference in the terms and conditions of each financial award for an infrastructure project. The ...