MFI-39 1998 Project Team Model Form Accounting Procedure Interpretation

This document provides recommendations to aid in the interpretation and application of the 1998 Project Team Model Form so there can be a common ground of understanding in negotiations.  Users willread detailed recommendations and explanations for all five major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, Material Purchases Transfers & Dispositions, and Inventories of Controllable Material.  68 pages.  Pub. 1998

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Table of Contents

  1. FOREWORD
  2. ACCOUNTING PROCEDURE
  3. MODEL FORM INTERPRETATION
  4. GENERAL PROVISIONS
    1. DEFINITIONS
    2. STATEMENTS AND BILLINGS
    3. ADVANCES AND PAYMENTS BY THE PARTIES
    4. ADJUSTMENTS
    5. EXPENDITURE AUDITS
    6. APPROVAL BY PARTIES
  5. DIRECT CHARGES
    1. RENTALS AND ROYALTIES
    2. LABOR
    3. MATERIAL
    4. TRANSPORTATION
    5. SERVICES
    6. EQUIPMENT AND FACILITIES FURNISHED BY OPERATOR
    7. AFFILIATES
    8. DAMAGES AND LOSSES TO JOINT PROPERTY
    9. LEGAL EXPENSE
    10. TAXES AND PERMITS
    11. INSURANCE
    12. COMMUNICATIONS
    13. ECOLOGICAL, ENVIRONMENTAL, AND SAFETY
    14. ABANDONMENT AND RECLAMATION
  6. OVERHEAD
    1. OVERHEAD—PROJECT TEAM
    2. OVERHEAD—DEVELOPMENT AND OPERATING
    3. OVERHEAD—MAJOR CONSTRUCTION AND CATASTROPHE
    4. AMENDMENT OF RATES
  7. MATERIAL PURCHASES, TRANSFERS, AND DISPOSITIONS
    1. DIRECT PURCHASES
    2. TRANSFERS
    3. DISPOSITION OF SURPLUS
    4. SPECIAL PRICING PROVISIONS
  8. INVENTORIES OF CONTROLLABLE MATERIAL
    1. DIRECTED INVENTORIES
    2. NON-DIRECTED INVENTORIES