HM 81. Model general terms and conditions for cost, insurance and freight (CIF) and cost and freight (CFR) sale and purchase of crude oil
It is common practice for major international oil companies to produce their own in-house General Terms and Conditions (GTCs) for physical oil trading. These can vary considerably in their approach to key contract issues and cause significant difficulties when back-to-back contracts are involved.
To address this, the EI has developed these model terms and conditions with the intent of providing a commonly known, commercially neutral set of contract terms which parties may use on a voluntary basis.
Book details
Websites:
EI Technical Publications website
Physical description: A4 navy and white 54pp
Edition: 2nd
Publisher: Energy Institute
Place of publication: London, England
ISBN: 9780852939178
Report number: HM81
Classification: 670 -
Keywords: Contracts - oil trading
Subjects: Trading, Oil prices, Hydrocarbon management, Tankers - ships
