This Standard provides the most up-to-date model for comprehensive water quality planning and management of shared water resources. Based on the concept of shared sovereignty, this model agreement is appropriate for situations where the Parties are prepared to relinquish a significant degree of sovereignty of their portion of the shared water resource. The objective of this comprehensive, integrated agreement is to achieve allocation based on equitable utilization. This model agreement is extensive and considers most aspects of planning and management of water resources, including administration, water quality and allocation, financing, and dispute resolution. It is sufficiently flexible for use on an international scale and in a variety of geopolitical settings.