Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia?
The unequal bargaining power of the parties in the oil and gas industry has lead to the imbalanced contractual risk allocation in oilfield contracts in Malaysia. In this regard, there is a prospect that the operators pass an unfair share of the risks on to the contractors. However, the contractors...
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| Format: | Article |
| Language: | English |
| Published: |
Inderscience
2015
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| Online Access: | http://irep.iium.edu.my/43900/ http://irep.iium.edu.my/43900/2/IJTGM80101_Zulhafiz.pdf |
| _version_ | 1848782521277349888 |
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| author | Wan Zahari, Wan Mohd. Zulhafiz |
| author_facet | Wan Zahari, Wan Mohd. Zulhafiz |
| author_sort | Wan Zahari, Wan Mohd. Zulhafiz |
| building | IIUM Repository |
| collection | Online Access |
| description | The unequal bargaining power of the parties in the oil and gas
industry has lead to the imbalanced contractual risk allocation in oilfield contracts in Malaysia. In this regard, there is a prospect that the operators pass an unfair share of the risks on to the contractors. However, the contractors might still enter into such imbalanced agreement to secure a job and thereby assume these risks. In this paper, it is argued that a statutory controlling mechanism, such as Unfair Contract Terms Act 1977 (UCTA) in the UK, should be adopted to protect the liability of the contractor in relation to the risk allocation provisions of oilfield contracts in Malaysia. This paper seeks to analyse the deficiencies of the risk allocation provisions of oilfield contracts in Malaysia and to consider whether the principle of reasonableness test as provided in UCTA could provide a potential solution. It will employ a
combination of case study and analysis. |
| first_indexed | 2025-11-14T16:06:47Z |
| format | Article |
| id | iium-43900 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T16:06:47Z |
| publishDate | 2015 |
| publisher | Inderscience |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-439002018-05-23T00:47:34Z http://irep.iium.edu.my/43900/ Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? Wan Zahari, Wan Mohd. Zulhafiz HF Commerce K Law (General) KBP1468 Social laws and legislation KBP3190 Economic law The unequal bargaining power of the parties in the oil and gas industry has lead to the imbalanced contractual risk allocation in oilfield contracts in Malaysia. In this regard, there is a prospect that the operators pass an unfair share of the risks on to the contractors. However, the contractors might still enter into such imbalanced agreement to secure a job and thereby assume these risks. In this paper, it is argued that a statutory controlling mechanism, such as Unfair Contract Terms Act 1977 (UCTA) in the UK, should be adopted to protect the liability of the contractor in relation to the risk allocation provisions of oilfield contracts in Malaysia. This paper seeks to analyse the deficiencies of the risk allocation provisions of oilfield contracts in Malaysia and to consider whether the principle of reasonableness test as provided in UCTA could provide a potential solution. It will employ a combination of case study and analysis. Inderscience 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/43900/2/IJTGM80101_Zulhafiz.pdf Wan Zahari, Wan Mohd. Zulhafiz (2015) Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? Int. J. Trade and Global Markets, 8 (1). pp. 3-21. ISSN 1742-755X http://www.inderscience.com/info/inarticle.php?artid=67969 |
| spellingShingle | HF Commerce K Law (General) KBP1468 Social laws and legislation KBP3190 Economic law Wan Zahari, Wan Mohd. Zulhafiz Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title | Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title_full | Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title_fullStr | Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title_full_unstemmed | Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title_short | Unfair Contract Terms Act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in Malaysia? |
| title_sort | unfair contract terms act 1977: does it provide a good model in regulating risk allocation provisions in oilfield contracts in malaysia? |
| topic | HF Commerce K Law (General) KBP1468 Social laws and legislation KBP3190 Economic law |
| url | http://irep.iium.edu.my/43900/ http://irep.iium.edu.my/43900/ http://irep.iium.edu.my/43900/2/IJTGM80101_Zulhafiz.pdf |