The Crude Oil Sale and Purchase Agreement is essential for structuring and documenting crude oil transactions in the international oil trading market. This agreement, governed by Singapore law, is particularly relevant given Singapore's position as a major oil trading hub in Asia. It provides a comprehensive framework for managing the commercial relationship between buyers and sellers, addressing crucial aspects such as product specifications, pricing mechanisms, delivery terms, and risk allocation. The document incorporates Singapore's regulatory requirements and standard industry practices, making it suitable for both spot transactions and term contracts in the international oil trading market.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Crude Oil Sale And Purchase Agreement
"Need a Crude Oil Sale and Purchase Agreement under Singapore law for a spot sale of 2 million barrels of light crude oil from our Indonesian fields to a Chinese refinery, with delivery scheduled for March 2025 and payment via irrevocable 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 including technical oil trading terms
4. Product Specifications: Detailed specifications of the crude oil being sold including grade, API gravity, sulfur content
5. Quantity and Measurement: Agreed volume and measurement standards, including tolerance levels
6. Price and Payment Terms: Pricing mechanism, currency, payment conditions, and credit terms
7. Delivery Terms: Delivery schedule, location, method of delivery, and shipping terms
8. Title and Risk: Transfer of ownership and risk allocation between parties
9. Quality and Inspection: Quality standards, testing procedures, and inspection rights
10. Force Majeure: Circumstances excusing performance and related procedures
11. Governing Law and Jurisdiction: Singapore law as governing law and jurisdiction for disputes
1. Price Adjustment Mechanism: Formula and conditions for price adjustments based on market conditions or quality variations
2. Storage Provisions: Terms for storage of crude oil including costs and responsibilities
3. Hedging Arrangements: Terms for price risk management and hedging mechanisms
4. Environmental Compliance: Specific environmental requirements and compliance obligations
5. Insurance Requirements: Specific insurance coverage requirements beyond standard provisions
1. Schedule 1 - Product Specification Sheet: Detailed technical specifications of the crude oil grade(s)
2. Schedule 2 - Pricing Formula: Detailed calculation method for price determination including benchmarks
3. Schedule 3 - Delivery Schedule: Detailed timeline and locations for deliveries
4. Schedule 4 - Testing Procedures: Quality testing protocols, standards and nominated laboratories
5. Schedule 5 - Form of Letter of Credit: Standard format for required financial instruments and credit support
6. Schedule 6 - Vessel Requirements: Specific requirements for vessels used in transportation
Authors
Relevant legal definitions
Agreement
API Gravity
Applicable Law
Banking Day
B/L Date
Bill of Lading
Barrel
Business Day
Buyer
Cargo
Contract Price
Contract Quantity
Delivery Point
Delivery Window
Demurrage
ETA
Force Majeure
FOB
CIF
Independent Inspector
Laytime
Letter of Credit
Loading Port
Loading Terminal
Metric Ton
Nominated Vessel
Notice of Readiness
Party/Parties
Price Quotation Day
Quality Specifications
Seller
Specifications
Terminal
Title and Risk
Total Acid Number
Vessel
Working Day
Singapore Time
INCOTERMS
Quality Certificate
Quantity Certificate
Reference Price
Sulfur Content
Trading Day
Valid Notice of Readiness
API Gravity
Applicable Law
Banking Day
B/L Date
Bill of Lading
Barrel
Business Day
Buyer
Cargo
Contract Price
Contract Quantity
Delivery Point
Delivery Window
Demurrage
ETA
Force Majeure
FOB
CIF
Independent Inspector
Laytime
Letter of Credit
Loading Port
Loading Terminal
Metric Ton
Nominated Vessel
Notice of Readiness
Party/Parties
Price Quotation Day
Quality Specifications
Seller
Specifications
Terminal
Title and Risk
Total Acid Number
Vessel
Working Day
Singapore Time
INCOTERMS
Quality Certificate
Quantity Certificate
Reference Price
Sulfur Content
Trading Day
Valid Notice of Readiness
Clauses
Interpretation
Sale and Purchase
Quality Specifications
Quantity and Measurement
Price and Payment
Delivery Terms
Title and Risk
Nominations
Loading Conditions
Laytime and Demurrage
Quality and Quantity Determination
Documentary Requirements
Payment Security
Force Majeure
Taxes and Duties
Health Safety and Environment
Compliance with Laws
Representations and Warranties
Liability and Indemnity
Default and Termination
Insurance
Confidentiality
Assignment
Notices
Governing Law
Dispute Resolution
Boilerplate Provisions
Anti-Corruption
Sanctions Compliance
Credit Support
Change in Law
Environmental Compliance
Record Keeping
Trade Documentation
Product Testing
Sale and Purchase
Quality Specifications
Quantity and Measurement
Price and Payment
Delivery Terms
Title and Risk
Nominations
Loading Conditions
Laytime and Demurrage
Quality and Quantity Determination
Documentary Requirements
Payment Security
Force Majeure
Taxes and Duties
Health Safety and Environment
Compliance with Laws
Representations and Warranties
Liability and Indemnity
Default and Termination
Insurance
Confidentiality
Assignment
Notices
Governing Law
Dispute Resolution
Boilerplate Provisions
Anti-Corruption
Sanctions Compliance
Credit Support
Change in Law
Environmental Compliance
Record Keeping
Trade Documentation
Product Testing
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Simple Business Purchase Agreement
A straightforward agreement for business purchases under Singapore law, outlining basic terms of sale between two commercial entities.
find out more
Letter Of Intent For Selling Property
A preliminary document outlining proposed terms for property sale in Singapore, expressing buyer's interest and key transaction details.
find out more
House Selling Agreement
A Singapore-law governed agreement for the sale and purchase of residential property, outlining terms and conditions of the property transfer.
find out more
Crude Oil Sale And Purchase Agreement
A legally binding agreement for crude oil trading under Singapore law, establishing terms for sale, purchase, and delivery of crude oil.
find out more
Asset Sale Purchase Agreement
A Singapore law-governed agreement for the transfer of specific assets between seller and buyer, structured under local commercial law.
find out more
Letter Of Agreement For Selling House
A formal document outlining property sale terms between parties under Singapore law.
find out more
Agreement To Sell Shares
A Singapore law-governed agreement documenting the sale and transfer of shares between parties, including terms, warranties, and conditions.
find out more
Sale Purchase Agreement Draft
A legally binding contract under Singapore law documenting the transfer of ownership from seller to buyer, including terms of sale and compliance requirements.
find out more
Residential Sale Contract
A Singapore law-governed contract for the sale and purchase of residential property, detailing terms, conditions, and obligations of the transaction.
find out more
Intent To Sell Agreement
A Singapore-law governed preliminary agreement documenting parties' intention to enter into a future sale transaction with specified terms and conditions.
find out more
Car Purchase Payment Agreement
A Singapore-compliant legal agreement outlining terms and conditions for vehicle purchase and payment arrangements.
find out more
Letter Of Offer To Sell Property
A formal document under Singapore law expressing a property owner's intention to sell property under specified terms and conditions.
find out more
Sell And Buy Agreement
A Singapore-law governed agreement documenting terms and conditions for the sale and purchase of goods or property between parties.
find out more
Car Sell Agreement
A Singapore-compliant agreement for the sale and purchase of a motor vehicle, including transfer terms and regulatory requirements.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.