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Deal #3464 Version #61360

Liberia

Created at

2013-03-25

Last update

2016-04-19

Last full update

2020-07-14

Promised benefits for local communities

Other

Comment on promised benefits for local communities

Cavalla Rubber Corporation shall annually contribute US$ 5.00 per hectare in the developed area to a community development fund. The fund shall be administered by a committee consisting of not more than 10 members nominated and selected by the surrounding community, the Government and Cavalla Rubber Corporation, of which half shall be nominated by Cavalla Rubber Corporation. The committee shall develop an annual budget in consultation with the Government, Cavalla Rubber Corporation, or as otherwise required by law. Cavalla Rubber Corporation shall also contribute 1% of each of its annual gross sales of Rubber Products and Oil Palm Products, Processed-Oil Palm and Oil Palm By-products, or such amounts as are required by law, to the Rubber Development Fund and the Oil Palm Development Fund.