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Oil And Gas Purchase And Sale Agreement
"I need an Oil and Gas Purchase and Sale Agreement for a long-term supply arrangement with quarterly deliveries of LNG, starting from March 2025, with specific quality requirements for power generation use and Singapore law governing the agreement."
1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Product Specifications: Detailed specifications of oil/gas products being traded
5. Quantity and Delivery: Terms regarding volume, delivery schedule and method
6. Price and Payment: Pricing mechanism, payment terms and invoicing
7. Quality and Measurement: Quality standards and measurement procedures
8. Title and Risk: Transfer of ownership and risk allocation
9. Warranties: Representations and warranties by both parties
10. Force Majeure: Provisions for unforeseen circumstances
11. Termination: Conditions and procedures for contract termination
12. Governing Law: Application of Singapore law and jurisdiction
1. Transportation: Specific transportation arrangements when not handled by third party
2. Storage: Storage arrangements and responsibilities when required between delivery points
3. Hedging Arrangements: Price hedging mechanisms when parties agree to price risk management
4. Credit Support: Credit requirements and guarantees when credit risk needs to be managed
1. Product Specification Sheet: Detailed technical specifications of products
2. Pricing Formula: Detailed pricing calculations and mechanisms
3. Delivery Schedule: Detailed delivery timeline and locations
4. Quality Testing Procedures: Specific procedures for quality verification
5. Health, Safety and Environment (HSE) Requirements: Detailed HSE compliance requirements
6. Form of Letters of Credit: Template for required financial instruments
7. Measurement Procedures: Detailed procedures for quantity measurement
Authors
Affiliate
Applicable Law
Banking Day
Barrel
Bill of Lading
Business Day
Buyer
Cargo
Contract Price
Contract Quantity
Delivery Point
Delivery Window
Effective Date
Force Majeure
Governmental Authority
Incoterms
Independent Inspector
Installation
Invoice
Letter of Credit
Loading Port
Loading Terminal
Metric Ton
Nomination
Notice of Readiness
Party/Parties
Payment Date
Product
Product Specifications
Quality Certificate
Quarter
Seller
Shipment
Storage Facility
Terminal
Title and Risk
Transportation Documents
Vessel
Working Day
Default Interest Rate
Delivery Schedule
Discharge Port
Quality Testing Procedures
Measurement Procedures
Safety Regulations
Environmental Laws
Credit Support Document
Hedging Arrangements
Price Adjustment Mechanism
Sale and Purchase
Contract Quantity
Quality Specifications
Price and Payment
Delivery
Title and Risk
Measurement and Testing
Transportation
Health and Safety
Environmental Compliance
Insurance
Force Majeure
Warranties and Representations
Confidentiality
Assignment
Governing Law
Dispute Resolution
Termination
Liability and Indemnification
Taxes and Duties
Compliance with Laws
Documentation
Credit Support
Notices
Storage
Product Nominations
Quality Claims
Default and Remedies
Amendments
Entire Agreement
Severability
Waiver
Third Party Rights
Anti-Corruption
Sanctions Compliance
Bank Guarantees
Letters of Credit
Operational Procedures
Emergency Response
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