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[Music] in module 4 we will talk about the types of agreements in this module we will list the main types of contractual agreements and and we will go over the mechanics of the production sharing agreement in particular how the production is shared and costs recovered contractual Arrangements there are concessionary systems although the concession systems by most uh instructors or authors are not termed as contractual Arrangements but it is a contract it is an agreement concessionary system which is basically a tax and royalty system because the two components that go to the government are the taxes and the royalties in some contracts there could be excess profit tax as a as a as a third uh cut for the government and that the if the contractor exceeds a certain profitability level then he has to pay excess profit tax or windfall profit tax then we have the production sharing contracts which is the subject in this course that we will emphasize on then we have joint venture contracts joi
