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

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  • Published: July 2016
  • REF/ISBN: 9780852939154
  • Edition: 3rd
  • Status: Current

This document is freely available to all registered users of this site. 

HM 80 coverIt 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:

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.

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