Document background
The Crude Oil Sale and Purchase Agreement serves as the primary contractual framework for crude oil trading transactions under Swiss jurisdiction. This document type is essential for companies engaged in international crude oil trading, particularly those operating through Swiss trading hubs like Geneva and Zug. It is designed to comply with Swiss legal requirements while incorporating international trading practices and standards. The agreement typically covers both single cargo (spot) and long-term supply arrangements, detailing essential elements such as product specifications, pricing mechanisms, delivery terms, and risk allocation. It's particularly relevant for transactions involving Swiss-based trading entities or where parties choose Swiss law for its well-developed commercial legal framework and neutrality in international trade.
