Document background
The Crude Oil Sales Agreement is essential for establishing legally binding terms for crude oil trading transactions under Dutch jurisdiction. It is typically used when parties wish to establish a framework for single or multiple crude oil purchases, whether for trading or refining purposes. The agreement needs to comply with Dutch civil law requirements while incorporating international trading practices and EU regulations. It addresses critical elements including product specifications, delivery terms, price mechanisms, quality and quantity determination, risk allocation, and documentary requirements. This document is particularly relevant for transactions involving Dutch ports (especially Rotterdam), Dutch-based trading entities, or parties specifically choosing Dutch law as their governing law. The agreement can be structured for spot transactions or term deals and includes provisions for both maritime and land-based deliveries.
