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Stumpage
Stumpage is the price a private firm pays for the right to harvest timber from a given land base. It is paid to the current owner of the land. Historically, the price was determined on a basis of the number of trees harvested, or "per stump". Currently it is dictated by more standard measurements such as cubic metres, board feet, or tons. To determine stumpage, any stand that will be harvested by the firm is first assessed and appraised through processes aimed at finding the volume of timber that is to be harvested. A given stumpage rate, measured in $/volume, is then applied to the amount of timber to be harvested. The firm will then pay this price to the landowner. Stumpage in Canada Canadian forests exist mainly on what is considered to be crown land, under the provincial governments' control. On Canadian crown land, stumpage is known as the market value of standing trees that must be paid by firms for the right to harvest timber, currently measured in $/cubic meter. In Cana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalties
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party ( party means the periphery behind it) to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchise ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Ownership In Canada
Land is owned in Canada by governments, Indigenous groups, corporations, and individuals. Canada is the second-largest country in the world by area; with of land. Crown lands The majority of all lands in Canada are held by governments as public land and are known as Crown lands. About 89% of Canada's land area (8,886,356 km2) is Crown land, which may either be federal (41%) or provincial (48%); the remaining 11% is privately owned. Most federally administered land is in the Canadian territories (Northwest Territories, Nunavut and Yukon), and is administered on behalf of Aboriginal Affairs and Northern Development Canada; only 4% of land in the provinces is federally controlled, largely in the form of National Parks, Indian reserves, or Canadian Forces bases. In contrast, provinces hold much of their territory as provincial Crown land, which may be held as Provincial Parks or wilderness. The largest class of landowners are the provincial governments, who hold all unc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Severance Tax
Severance taxes are taxes imposed on the removal of natural resources within a taxing jurisdiction. Severance taxes are most commonly imposed in oil producing states within the United States. Resources that typically incur severance taxes when extracted include oil, natural gas, coal, uranium, and timber. Some jurisdictions use other terms like gross production tax. Note that severance taxes are used in jurisdictions where most resource extraction occurs on privately owned land and/or where sub-surface minerals are privately owned (for example, the United States). Where the resources are publicly owned to begin with (for example, in most Commonwealth and European Union countries), it is not a tax but rather a resource royalty that is paid. In the case of the forestry industry, this royalty is called " stumpage". Oil and natural gas Severance taxes are set and collected at the state level. States usually calculate the tax based on the value and/or volume produced; sometime ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price
A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services. In some situations, especially when the product is a service rather than a physical good, the price for the service may be called something else such as "rent" or "tuition". Prices are influenced by production costs, supply of the desired product, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted in currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices could be quoted as quantities of other goods or services, this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cubic Metre
The cubic metre (in Commonwealth English and international spelling as used by the International Bureau of Weights and Measures) or cubic meter (in American English) is the unit of volume in the International System of Units (SI). Its symbol is m3. Bureau International de Poids et Mesures.Derived units expressed in terms of base units". 2014. Accessed 7 August 2014. It is the volume of a cube with edges one metre in length. An alternative name, which allowed a different usage with metric prefixes, was the stère, still sometimes used for dry measure (for instance, in reference to wood). Another alternative name, no longer widely used, was the kilolitre. Conversions : A cubic metre of pure water at the temperature of maximum density (3.983 °C) and standard atmospheric pressure (101.325 kPa) has a mass of , or one tonne. At 0 °C, the freezing point of water, a cubic metre of water has slightly less mass, 999.85 kilograms. A cubic metre is sometimes abbreviated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Feet
The board foot or board-foot is a unit of measurement for the volume of lumber in the United States and Canada. It equals the volume of a board that is in length, one foot in width, and in thickness, or exactly liters. Board foot can be abbreviated as FBM (for "foot, board measure"), BDFT, or BF. A thousand board feet can be abbreviated as MFBM, MBFT, or MBF. Similarly, a million board feet can be abbreviated as MMFBM, MMBFT, or MMBF. Until the 1970s, in Australia and New Zealand, the terms super foot and superficial foot were used with the same meaning. Description One board foot equals: * 1 ft × 1 ft × 1 in * 12 in × 12 in × 1 in * 12 ft × 1 in × 1 in * 144 cu in * cu ft * ≈ * ≈ * ≈ or steres * Petrograd Standard of board Usage The board foot is used to measure both rough (unprocessed) lumber and planed (surfaced) lumber. Rough lumber is measured before drying and planing, using its full sawn dimensions. Planed lumber, such as standard soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OECD
The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, world trade. It is a forum (legal), forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members. The majority of OECD members are generally regarded as developed country, developed countries, with High-income economy, high-income economies, and a very high Human Development Index. their collective population is 1.38 billion people with an average life expectancy of 80 years and a median age of 40, against a global average of 30. , OECD Member countries collectively comprised 62.2% of list of countries by GDP (nominal), global nom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Present Value
The net present value (NPV) or net present worth (NPW) is a way of measuring the value of an asset that has cashflow by adding up the present value of all the future cash flows that asset will generate. The present value of a cash flow depends on the interval of time between now and the cash flow because of the Time value of money (which includes the annual effective discount rate). It provides a method for evaluating and comparing capital projects or financial products with cash flows spread over time, as in loans, investments, payouts from insurance contracts plus many other applications. Time value of money dictates that time affects the value of cash flows. For example, a lender may offer 99 cents for the promise of receiving $1.00 a month from now, but the promise to receive that same dollar 20 years in the future would be worth much less today to that same person (lender), even if the payback in both cases was equally certain. This decrease in the current value of future c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Faustmann's Formula
Faustmann's formula, or the Faustmann model, gives the present value of the income stream for forest rotation. It was derived by the German forester Martin Faustmann in 1849. The ''rotation problem'', deciding when to cut down the forest, means solving the problem of maximising Faustmann's formula and this was solved by Bertil Ohlin in 1921 to become the ''Faustmann-Ohlin theorem'', although other German foresters were aware of the correct solution in 1860. : ƒ(''T'') is the stock of timber at time ''T'' : ''p'' the price of timber and is constant : which implies that the value of the forest at time ''T'' is ''pf''(''T'') : ''r'' is the discount rate and is also constant. The Faustmann formula is as follows: : PV = pf(T) \exp(-rT) \cdot = \frac. From this formula two theorems are interpreted: : The optimal time to cut the forest is when the time rate of change of its value is equal to interest on the value of the forest plus the interest on the value of the land. :The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Logging
Logging is the process of cutting, processing, and moving trees to a location for transport. It may include skidder, skidding, on-site processing, and loading of trees or trunk (botany), logs onto logging truck, trucksSociety of American Foresters, 1998. Dictionary of Forestry. or flatcar#Skeleton car, skeleton cars. In forestry, the term logging is sometimes used narrowly to describe the logistics of moving wood from the stump to somewhere outside the forest, usually a sawmill or a lumber yard. In common usage, however, the term may cover a range of forestry or silviculture activities. Logging is the beginning of a supply chain that provides raw material for many products societies worldwide use for housing, construction, energy, and consumer paper products. Logging systems are a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
