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13:14 Feb 17, 2006
French to English translations [PRO] Law/Patents - Law: Contract(s) / Production-sharing Contract (Petroleum)
French term or phrase:contrepartie
...si le Gouvernement considère que l'exploitation du gisement concerné peut être poursuivie par un nouvel exploitant, le Gouvernement aura le droit de le faire exploiter, sans aucune contrepartie pour le Contracteur
Adjoa, compensation and consideration are close. The former is money paid over for loss or damage, the latter is (usually) money paid over by way of consideration to make a contract valid. W/out consideration, no agreement is binding - unless made by deed
Maya is right. In this context, the Government won't pay any compensation to a Contractor who stops the work before the end of the contract, hence the need to have another "exploitant" continue with the work.
"In the sense of damages": this is the whole point. The contractor could try to claim compensation but this contract clearly states that there won't be any compensation. Consideration is simply wrong and the GDT is not always right.