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.
Illinois Preferential Right to Purchase Production
Category:
State:
Multi-State
Control #:
US-OG-505
Format:
Word;
Rich Text
Instant download
Description
How to fill out Preferential Right To Purchase Production?
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FAQ
1-15.120. Expatriated entity. "Expatriated entity" means a foreign incorporated entity which is treated as an inverted domestic corporation under subsection (b) of Section 835 of the Homeland Security Act of 2002, 6 U.S.C. 395(b), or any subsidiary of such an entity.
The Illinois Procurement Code ("Code"), Section 30-22 (6) provides as follows: "The bidder and all bidder subcontractors must participate in applicable apprenticeship and training programs approved and registered with the United States Department of Labor's (USDOL ) Bureau of Apprenticeship and Training."
Prohibition of Political Contributions Section 50-37 of the Illinois Procurement Code prohibits certain types of political contributions from business entities and affiliated persons of business with bids, proposals or contracts in excess of $50,000 annually.
20-43. Bidder or offeror authorized to transact business or conduct affairs in Illinois.
Per [30 ILCS 500/20-20], The Small Purchase Threshold for each catagory is: Professional and Artistic: $100,000 (+CPI) Commodities and Services: $100,000 (+CPI) Construction: $100,000 (+CPI)
20-20. Small purchases. (a) Amount. Any individual procurement of supplies or services not exceeding $100,000 and any procurement of construction not exceeding $100,000, or any individual procurement of professional or artistic services not exceeding $100,000 may be made without competitive source selection.
