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HM 80. Model general terms and conditions for free on board (FOB) sale and purchase of crude oil

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.

This third edition provides separate clauses for delivery and title and risk, so as to align the document with its sister documents:

This guideline is available to download for free by registering/logging in to the EI publications website

Organisations wishing to use these terms as part of their commercial contracts should apply to the Energy Institute for a licence which is available for a nominal fee.

ISBN: 978 0 85293 915 4                         3rd edition                                    Jul 2016

Hard copy EI member price: £90.00

Hard copy non-member price: £120.00

Visit the EI's publication website to download/purchase this title

To purchase this publication from our publishing website please register with the site on its home page. If you are a member of the EI you can update your profile page with your EI membership details to obtain a discount when ordering.