Document background
The Crude Oil Sale And Purchase Agreement is essential for businesses engaged in the trading, supply, or procurement of crude oil within or involving German jurisdiction. This document is typically used when parties seek to establish a formal contractual relationship for single cargo or term deals of crude oil, whether for trading purposes or refinery supply. It incorporates specific requirements under German law, including provisions from the German Civil Code (BGB) and Commercial Code (HGB), while also addressing international trading practices. The agreement is particularly important given Germany's position as a major European energy market and its strict regulatory requirements. It includes comprehensive provisions for quality specifications, delivery terms, price mechanisms, and risk allocation, making it suitable for both domestic and international transactions subject to German law.
