Any partial or total sale, surrender, or transfer of the Project Area must be communicated in advance to the Ministry. By accepting the transfer or sale, the new owner or transferee consents to take the place of the Participant under this agreement, of which the new owner or transferee is presumed to have notice by virtue of its being registered in the property register.
If the new owner or transferee does not take the place of the Participant under this agreement for any reason, the transfer will be treated as a termination for convenience on the part of the Participant and the provisions in clause 13 will apply.
Context of this Clause
Participation agreement for a national REDD+ program
Ecosystem service: forest carbon emissions reduction credits or conservation/restoration services expected to yield forest carbon emissions reduction or removal
Single seller signing a government-provided form contract (which is backed up by detailed program guidelines) with a representative of the government ministry that administers the REDD+ program
Disclaimer: Materials on this site are meant to highlight issues that should be considered in PES transactions, not to provide a substitute for experienced legal counsel. It will be essential to engage legal counsel in conjunction with any PES transaction to ensure that any agreements reflect the latest developments in the field and comply with current local and national legislation.
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