Practical issues in structuring seismic licensing and acquisition contracts

Some of the key subjects addressed in the International Association of Geophysical Contractors' (IAGCs') Contract Manual concerning the structuring of seismic licences are explained. The IAGC is the international trade association of the seismic industry headquartered in Houston, Texas. The manuals (i.e. U.S. and International) were designed to provide users with some basic, useful guidelines regarding contracts and licenses. This paper described the structure of the manuals and reviewed some key contract clauses such as liability/indemnity, permitting, contractor's rights, conflict resolution and applicable laws (important in the case of international licenses)