Crude Oil Purchase Agreement

Crude Oil Purchase Agreement Template for England and Wales

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Crude Oil Purchase Agreement

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

"Need a Crude Oil Purchase Agreement for the sale of 500,000 barrels per month of Brent crude oil from March 2025, with delivery at Rotterdam port and payment terms of 30 days from bill of lading date."

Document background

The Crude Oil Purchase Agreement is a fundamental contract used in the oil trading industry to establish the commercial and legal framework for crude oil transactions. Under English and Welsh law, this agreement is particularly important for international trade due to London's position as a major center for commodity trading and maritime law. The document typically includes detailed provisions on product specifications, pricing mechanisms, delivery arrangements, quality requirements, and risk allocation. It's designed to provide clarity and certainty in high-value transactions while ensuring compliance with relevant regulations and industry standards.

Suggested Sections

1. Parties: Identification and details of the buyer and seller

2. Background: Context of the agreement and commercial relationship

3. Definitions: Key terms used throughout the agreement

4. Product Specifications: Detailed specifications of the crude oil being purchased

5. Quantity: Agreed volumes and measurement methods

6. Price and Payment Terms: Pricing mechanism, payment method and timing

7. Delivery Terms: Delivery location, method, and scheduling

8. Title and Risk: Transfer of ownership and risk allocation

9. Quality and Inspection: Quality testing procedures and standards

10. Force Majeure: Events excusing performance

11. Governing Law and Jurisdiction: Legal framework and dispute resolution

Optional Sections

1. Term and Termination: Duration and termination rights (for long-term agreements)

2. Take or Pay Provisions: Minimum purchase obligations (for long-term agreements)

3. Price Review: Mechanism for price adjustments (for long-term agreements)

4. Storage Provisions: If storage is required as part of the agreement

Suggested Schedules

1. Product Specification Schedule: Detailed technical specifications of the crude oil

2. Pricing Schedule: Detailed pricing mechanisms and calculations

3. Delivery Schedule: Specific delivery locations and requirements

4. Testing Procedures: Detailed quality testing methodologies

5. Form of Documents: Template documents such as bills of lading, certificates

6. Compliance Requirements: Specific regulatory compliance procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Oil & Gas
Energy
Manufacturing
Trading

Relevant Teams

Legal
Trading
Operations
Risk
Finance
Compliance

Relevant Roles

Trading Manager
Commercial Director
Legal Counsel
Risk Manager
Operations Manager
Supply Chain Director

Find the exact document you need

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.

Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research

Oops! Something went wrong while submitting the form.

�ұ�Ծ��’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; �ұ�Ծ��’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.

��Ƶ

How a Sales & Marketing Lead uses ��Ƶ to reduce contract drafting time by 95%

private

sovereign

Careers

Crude Oil Purchase Agreement Template for England and Wales

Let's create your Crude Oil Purchase Agreement