What legal remedies are available if a company fails to pay royalties on time?

In South Carolina, when a company fails to pay its royalties on time, there are several legal remedies that can be taken. First, the oil and gas lease holder (the landowner) can bring a lawsuit against the company for failure to pay royalties. This legal action is known as a breach of contract action, and it may result in the court ordering the company to pay the royalties, plus any additional damages that the landowner may have incurred as a result of the breach. Additionally, the landowner can pursue a lien on the company’s property in order to secure payment of the royalties. The lien will serve as a form of security that allows the landowner to receive payment if the company eventually makes the necessary payment. Finally, the landowner can also pursue remedies for damages under state oil and gas laws. In some cases, these statutes may allow for the landowner to recover treble damages, meaning that they can recover up to three times the amount of the original royalty payment. Ultimately, when a company fails to pay its royalty payments on time, the landowner has a number of legal remedies that can be pursued. Depending on the specific circumstances, they may be able to recover the original amount owed, plus additional damages. In some cases, they may even be able to recover triple the amount of the original payment.

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Are there any legal remedies available if a company fails to pay royalties on time?

What legal remedies are available if a company fails to pay royalties on time?

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