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HM 81. Model general terms and conditions for cost, insurance and freight (CIF) and cost and freight (CFR) 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 between trading companies and other parties.

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.

In this second edition the insurance deductible has been deleted from clause 9.3, 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 https://publishing.energyinst.org

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 917 8                         2nd 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.