Timber Sale Contract Defaults
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Author | : U S Government Accountability Office (G |
Publisher | : BiblioGov |
Total Pages | : 28 |
Release | : 2013-06 |
Genre | : |
ISBN | : 9781289078126 |
Pursuant to a congressional request, GAO reviewed the Forest Service's timber sales contracts, focusing on the Forest Service's: (1) collection of damages owed to the government for defaults on timber sale contracts that occurred between January 1, 1982, and March 31, 1993, and the reasons for any delays in collection; and (2) measures to protect the government from future losses as a result of contract defaults. GAO found that: (1) the Forest Service has collected $42.2 million in damages resulting from timber sales contract defaults between January 1, 1982, and March 31, 1993; (2) the Forest Service has determined that 45 percent of the total is uncollectible primarily due to purchasers' bankruptcies and deaths; (3) as of March 31, 1993, 41 percent of the assessed damages were still in process; (4) continuing litigation has delayed collection of damages and performance bonds; (5) the Forest Service has taken some steps to protect the government against future defaults by revising timber sale contract provisions and other administrative procedures; (6) the Forest Service has implemented a 10-percent minimum down payment requirement and raised the dollar limit on performance bonds to a $500,000 maximum; (7) timber sale contract defaults have declined since 1988, but it is not clear whether the decline is due solely to the new contract provisions; and (8) additional protective measures include longer retention of down payments until the contract is substantially completed and clarification of performance bond liability provisions.
Author | : United States Accounting Office (GAO) |
Publisher | : Createspace Independent Publishing Platform |
Total Pages | : 24 |
Release | : 2018-05-15 |
Genre | : |
ISBN | : 9781719150897 |
Timber Sale Contract Defaults: Forest Service Needs to Strengthen Its Performance Bond and Contract Provisions
Author | : United States. General Accounting Office |
Publisher | : |
Total Pages | : 20 |
Release | : 1993 |
Genre | : Lumber trade |
ISBN | : |
Author | : United States. Forest Service. Eastern Region |
Publisher | : |
Total Pages | : 292 |
Release | : 1981 |
Genre | : Lumber trade |
ISBN | : |
Author | : United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Public Lands and Reserved Water |
Publisher | : |
Total Pages | : 510 |
Release | : 1983 |
Genre | : Agricultural contracts |
ISBN | : |
Author | : Karen J. Lee |
Publisher | : |
Total Pages | : 32 |
Release | : 1987 |
Genre | : Forests and forestry |
ISBN | : |
Author | : United States. Congress. House. Committee on Agriculture. Subcommittee on Forests, Family Farms, and Energy |
Publisher | : |
Total Pages | : 256 |
Release | : 1982 |
Genre | : Forest reserves |
ISBN | : |
Author | : John Szydzik |
Publisher | : |
Total Pages | : 16 |
Release | : 1993 |
Genre | : Contracts |
ISBN | : |
This bulletin provides a sample timber sale contract that includes essential items, other important considerations, and special provisions written in lay terms by professional foresters.
Author | : United States. Congress. Senate. Committee on Agriculture, Nutrition, and Forestry. Subcommittee on Forestry, Water Resources, and Environment |
Publisher | : |
Total Pages | : 180 |
Release | : 1982 |
Genre | : Agricultural contracts |
ISBN | : |
Author | : United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Public Lands and Reserved Water |
Publisher | : |
Total Pages | : 506 |
Release | : 1983 |
Genre | : Agricultural contracts |
ISBN | : |