HM 83. Model general terms and conditions for cost, insurance and freight (CIF), cost and freight (CFR) and delivery at place (DAP) sale and purchase of petroleum products
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 63pp
Edition: 1st
Publisher: Energy Institute
Place of publication: London, England
ISBN: 9780852939215
Report number: HM83
Classification: 670 -
Keywords: Contracts - oil trading
Subjects: Trading, Oil prices, Hydrocarbon management, Tankers - ships
