Guidance note 7 on contract transparency and checklist
Checklist for integrating plans for contract transparency in work plans [English] [French] [Spanish] [Russian], January 2020
This checklist guides countries in determining the steps needed to publish contracts as of 1 January 2021, as required by the 2019 Standard.
Please note that the guidance note below reflects the 2016 Standard. The 2019 Standard requires the publication of contracts by 1 January 2021.
Contracts, licenses and associated agreements are crucial parts of the legal framework which establish many of the commitments between government and companies in the extractive industries.
In some cases, the terms of these contracts and licences may be standard and complemented by taxation regimes. In other cases, these contracts, licenses and agreements include detailed terms for how resource owners and companies agree to share risk and reward over the life of long-term resource extraction projects. Fiscal terms will address how costs and profits are shared between the parties and how taxes, royalties and other extraction related fees are to be calculated and paid. Contracts may also include information on company rights to natural resources, including geographical boundaries; social obligations, including infrastructure, social spending and local content requirements; worker health and safety; and stabilization clauses which insulate resource projects from changes to legal framework.
- EITI Requirements
- Determine government policy on contract disclosure
- Determine actual disclosure practice
- Determine whether and/or how contracts are disclosed
- EITI Reporting
- Public debate
- Country examples
- Forum for debate
- Facilitating disclosures
- Securing buy-in
- Dissemination of contracts
- Sector-wide legislation
- Advancing understanding
- Further references
You can find more information on contract transparency on our topics page on legal framework, contracts and licenses