4. 4
Theoretical and Legal framework for building, operating of direct-investment projects
and transferring them to the authority of public domain.
States and developing countries -in particular- are obligated to enhance and
restructure their national economies. In addition to conduct a comprehensive
developmental projects especially infrastructure type’s .Consequently, ways and options
for such achievements had been investigated. We discussed BOT agreements as it has
been considered one of the major options; it means Building, Operation and Transfer.
To end up with effective and useful series of information, BOT contract was discussed
in the two frames: The theoretical framework and the legal jurisprudence framework.
We specified a chapter per each frame. The first chapter was the theoretical framework
of BOT in which we aimed to clarify the precise definition of this type of contracts and
explained its characteristics. On the other hand, we distinguished BOT contracts from
other similar contracts such as BOOT, BOO, BLT and BTO. To complement this
theoretical framework we have dedicated the third part of this chapter to mention the
parties of BOT agreement (the country’s government and the company executing the
project whatever its subtypes and subdivisions) .Finally, we showed the implementation
of such type of contracts.
The second chapter is the legal framework. We commented on the jurisprudence
point per view for BOT in compare to other legal contracts. Then we explained the
jurisprudence and legal elements that should be met in such contract. We clarified the
rights and legal obligations of its parties. Since the Islamic law have a great respect at all
levels and even the legal ones, we ended our paper with characterization of some
Islamic legitimates for BOT contract.