Sample Crude Oil Sales Purchase Agreement

K. Delivery, title and risk of loss: Delivery, ownership and risk of loss of the underlying delivered crude oil are transferred from the seller to the buyer as follows: at the leasing delivery locations, the crude oil is delivered to the buyer when the crude oil passes through the last permanent supply and/or meter connecting the lease/storage tanks or processing facilities of the seller to the buyer`s carrier. Ownership and risk of loss of the crude is transferred from the seller to the buyer with delivery. D. Hazard Communication: The Seller makes its Safety Data Sheet (“MSDS”) available to the Buyer. The buyer recognizes the hazards and risks associated with the handling and use of crude oil. Buyer must read the safety management and inform its employees, associated companies and third parties who may purchase or come into contact with such crude oil of the dangers of crude oil as well as the precautions to be taken for the handling of such crude oil which, in such safety operations and in any additional security operations or written warnings that Seller may provide to Buyer from time to time, 2. Either Party may account for payments or supplies due to the other Party under this agreement or another agreement between the Parties. “delivery note” means a shipping/loading document or a document indicating the nature and quality of the crude oil delivered, the volume delivered and the method of measurement, the corrected specific weight, the temperature and the S&I content. The same daily deliveries: it is only for price purposes that all crude oil delivered this month in identical daily quantities applies, unless otherwise provided in the special provisions. The party that delivered the lowest volume during the month of imbalance (the “subcontracting party”) provides the other party with a quantity of crude oil corresponding to the difference between (a) the quantity delivered by the subcontracting party during the month of imbalance and (b) the quantity delivered by the other party during the month of imbalance (this difference is the “imbalance volume”). The volume of imbalances shall be delivered as soon as reasonably practicable after the month of imbalance, the Parties endeavouring to obtain the confirmed imbalance volumes up to the 20th day of the month of imbalance in the calendar month following immediately and after the 20th.

The month of imbalance was confirmed by the volumes of imbalance in the second calendar month following the month of imbalance. unless this is avoided by a recent or continuing event of force majeure. 1. If, due to force majeure, the reporting party (the “reporting party”) is unable to supply some or all of the amount of crude oil that the reporting party is required to deliver under the contract or related contract, the other party (the “exchange partner”) has the right, but not the obligation, reduce by an amount its deliveries of crude oil under the same contract or the related contract; which must not exceed. the number of barrels of crude oil that the reporting party does not supply. (2) Multiple deliveries. Where this Agreement provides for several deliveries of one or more types of crude oil during the same months of delivery or the purchase or exchange of crude oil by the Parties, all deliveries made to the same Party at the same place of delivery during a given month of delivery shall be considered a single transaction (“Goods Transaction”) for the purposes of determining the settlement amount (the statement of settlement). . . .

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