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Oil Purchase And Sale Agreement
"I need an Oil Purchase And Sale Agreement for a 12-month term starting January 2025, covering the purchase of crude oil from a Singapore-based supplier, with monthly deliveries of 50,000 barrels and payment through letter of credit."
1. Parties: Identification and details of the buyer and seller
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Product Specifications: Detailed specifications of the oil products being sold
5. Quantity and Delivery: Amount of product and delivery terms
6. Price and Payment Terms: Pricing structure and payment conditions
7. Quality and Inspection: Quality standards and inspection procedures
8. Title and Risk: Transfer of ownership and risk allocation
9. Term and Termination: Duration and termination provisions
1. Force Majeure: Provisions for unforeseen circumstances preventing performance of contractual obligations
2. Trade Controls and Sanctions: Compliance with international trade restrictions and sanctions regulations
3. Environmental Protection: Environmental compliance and protection measures for handling and transportation
4. Insurance: Insurance requirements and coverage for product transit and storage
1. Product Specification Sheet: Detailed technical specifications of the oil products
2. Pricing Formula: Detailed calculation method for price adjustments
3. Delivery Schedule: Timing and logistics of deliveries
4. Quality Testing Procedures: Detailed procedures for quality verification
5. Bank Details: Payment information for both parties
6. INCOTERMS: Specific trading terms applicable to the agreement
Authors
Affiliate
API Gravity
Applicable Law
Banking Day
Barrel
Bill of Lading
Buyer
Certificate of Quality
Certificate of Quantity
Cargo
Delivery Point
Delivery Window
Effective Date
Force Majeure
Gallon
INCOTERMS
Independent Inspector
Letter of Credit
Loading Port
Loading Terminal
Maritime Transportation Agreement
Metric Ton
Nominated Vessel
Notice of Readiness
Oil Product
Payment Due Date
Price
Product Specifications
Purchase Price
Quality Determination
Quantity Determination
Seller
Shipment
Shipping Documents
Storage Facility
Term
Terminal
Title and Risk
Trade Controls
Vessel
Working Day
Sale and Purchase
Product Specifications
Quantity
Quality
Price and Payment
Delivery
Title and Risk
Shipping and Transportation
Inspection and Testing
Documentation
Warranties and Representations
Liabilities and Indemnities
Force Majeure
Insurance
Compliance with Laws
Trade Controls and Sanctions
Environmental Protection
Health and Safety
Confidentiality
Assignment
Term and Termination
Governing Law
Dispute Resolution
Notices
Entire Agreement
Amendments
Severability
Third Party Rights
Counterparts
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