CAPLA Contracts Committee Precedents

The CAPLA Contracts Committee has prepared a number of precedent documents that have been updated to align to the 2015 CAPL Operating Procedure and the 2015 CAPL Farmout & Royalty Procedure. These documents are designed to increase the efficiency of the land profession by promoting a greater level of consistency in the manner in which industry prepares the applicable agreements.

I had reviewed in detail the Committee’s precedents for the Joint Operating Agreement, the Cross-Conveyed Pooling Agreement, the Non-Cross-Conveyed Pooling Agreement, the Royalty Allocation Amending Agreement and the Trust Agreement. The updates to those documents addressed my concerns with respect to use of those documents for the circumstances for which they were designed.

I believe that viewers would find it to be a good use of time to assess the suitability of their own precedents relative to those CAPLA documents.

The onus is on users, though, to confirm the acceptability of these documents to their company and the degree to which modifications are required for any particular transaction.  

Here is a link to the applicable portion of the CAPLA web page that provides access to downloadable versions of those documents: http://caplacanada.org/resources/resource-materials/contracts/