12 Production Contract Evaluation
1. The Parties to a contract must be identifiable and legally competent.
2. The subject matter of the agreement must be legal.
3. There must be mutual agreement.
4. There must be consideration given
• Types of Production Contracts
• Evaluating Production Contracts
• Profitability
• Risk
• Legal
• A Production Contracts Checklist
- Frist of All
- Get It in Writing
- In General
- Parties to the Contract
- Duration, Termination, and Renewal of the Contract
- Legal Relationship Created by the Contract
- Price, Payment, and Compensation
- Production Issues
- Disputes
• A Concluding comment
• Summary Points