Petroleum Product Supply Agreement Template for Singapore

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Key Requirements PROMPT example:

Petroleum Product Supply Agreement

"Need a Petroleum Product Supply Agreement for a 5-year supply arrangement starting March 2025, covering the supply of diesel and gasoline products from our Singapore refinery to a network of 25 retail stations, with monthly minimum purchase commitments and specific quality standards compliance."

Document background

The Petroleum Product Supply Agreement is essential for businesses engaged in the supply and purchase of petroleum products in Singapore. This agreement type is specifically designed to comply with Singapore's robust regulatory framework, including the Fire Safety Act and Environmental Protection and Management Act. The document establishes key commercial terms while ensuring compliance with strict safety and environmental standards. It typically includes detailed provisions for product specifications, delivery arrangements, pricing mechanisms, quality assurance, and risk allocation. This agreement is particularly important given Singapore's position as a major petroleum trading hub and its stringent regulatory requirements for handling petroleum products.

Suggested Sections

1. Parties: Identification of supplier and purchaser, including registered addresses and company details

2. Background: Context of the agreement and brief description of the business relationship

3. Definitions: Key terms used throughout the agreement including product specifications, technical terms, and regulatory references

4. Product Specifications: Detailed specifications of petroleum products being supplied, including quality standards and testing requirements

5. Supply Terms: Quantity, delivery schedule, ordering procedures, and supply obligations

6. Pricing and Payment: Price structure, payment terms, invoicing procedures, and price adjustment mechanisms

7. Delivery Terms: Delivery locations, methods, responsibilities, and acceptance procedures

8. Quality Assurance: Quality standards, testing procedures, acceptance criteria, and rejection rights

9. Compliance Requirements: Legal and regulatory compliance obligations under Singapore law including licensing and permits

10. Term and Termination: Duration of agreement, renewal provisions, and termination rights

Optional Sections

1. Minimum Purchase Obligations: Minimum quantity commitments and take-or-pay provisions for long-term supply arrangements

2. Storage Requirements: Storage facility specifications, maintenance requirements, and safety standards

3. Transportation: Transportation responsibilities, requirements, and compliance with dangerous goods regulations

4. Force Majeure: Events beyond parties' control affecting performance and related procedures

5. Environmental Protection: Environmental compliance measures, spill prevention, and remediation responsibilities

Suggested Schedules

1. Product Specifications Schedule: Detailed technical specifications of products and quality standards

2. Pricing Schedule: Detailed pricing structure, calculations, and adjustment mechanisms

3. Delivery Locations Schedule: List of approved delivery locations and specific requirements for each

4. Quality Testing Procedures: Detailed testing protocols, standards, and acceptance criteria

5. Safety Procedures: Safety protocols for handling, storage, and emergency response

6. Insurance Requirements: Detailed insurance coverage requirements and minimum coverage amounts

7. Emergency Response Procedures: Protocols for handling emergencies, incidents, and notification requirements

8. Compliance Certificates: Required licenses, permits, and compliance certificates under Singapore law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Oil & Gas
Transportation
Manufacturing
Energy
Retail

Relevant Teams

Legal
Procurement
Operations
Supply Chain
HSE
Finance

Relevant Roles

Supply Chain Manager
Procurement Manager
Operations Director
Compliance Officer
Commercial Manager
HSE Manager

Industries

Fire Safety Act (Chapter 109A): Primary legislation governing the storage, handling, and transportation of petroleum and flammable materials in Singapore, focusing on safety requirements and preventive measures

Environmental Protection and Management Act (Chapter 94A): Legislation controlling environmental impact of petroleum operations, including pollution control, waste management, and environmental protection measures

Energy Market Authority of Singapore Act (Chapter 92B): Regulatory framework for energy markets in Singapore, including aspects of petroleum product supply and distribution

Sale of Goods Act (Chapter 393): Governs the legal framework for sale and purchase transactions, including quality requirements and implied terms in petroleum supply contracts

Competition Act (Chapter 50B): Ensures fair competition in petroleum markets and prevents anti-competitive practices in supply agreements

Fire Safety (Petroleum and Flammable Materials) Regulations: Detailed regulations on safety requirements for handling, storing, and transporting petroleum products

Environmental Protection and Management (Transport of Hazardous Substances) Regulations: Specific requirements for transportation of petroleum products as hazardous substances

Maritime and Port Authority of Singapore Regulations: Regulations governing marine fuel supply and bunkering operations in Singapore waters

Petroleum/Flammable Materials Storage License Requirements: Licensing requirements for storing petroleum products and other flammable materials

Import/Export License Requirements: Regulatory requirements for importing and exporting petroleum products in Singapore

Singapore Standards (SS) for Petroleum Products: National standards specifying quality requirements and specifications for petroleum products

Carbon Pricing Act: Legislation implementing carbon tax and emissions requirements affecting petroleum supply chain

Contract Act (Chapter 53): Fundamental legislation governing contract formation and enforcement in Singapore

Workplace Safety and Health Act: Legislation ensuring safety and health protection for workers handling petroleum products

Insurance Requirements: Mandatory insurance coverage requirements for petroleum supply operations

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Authors

Alex Denne

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