Encyclopedia
Material breach of the service risk agreement
Substantial breach of the service risk agreement — an action (omission) that hinders the activities related to the development and achievement by the parties of the common objectives under the service risk agreement, including a gross violation by one of the parties of its obligations under the service risk agreement1.
Federal Law No. 75-FZ dated 01.04.2022 "On agreements concluded in the course of geological exploration, surveying and extraction of hydrocarbon raw materials and on amendments to the Federal Law of the Russian Federation "On Subsoil". 2022, amended on 2022-04-01, Article 14, paragraph 2. ↩