Sahara Energy Resource Limited v Societe Nationale de Raffinage SA
The Joint Report was a binding legal agreement covering the 2013 Outstanding on Principal, Reconciled Claims, and the Undisputed Claims (Incremental Interest and FX Differential). There was no express or implied condition that Government of Cameroon approval was required for the agreement to be binding. Clause 26 did not cover the claim for Penal Charges, as its scope was limited to losses arising from the exercise of remedies under that clause, not general indemnity for external charges.
Source excerpt
- Contractual interpretation
- Damages for breach of contract
- Indemnity clauses
- Limitation of actions