For example being based on a single regional marker crude, the RMM does not include the impact of the differential between Canadian Heavy crude and WTI. This document, together with the contract confirmation documentation (including its appendices) signed by BP and Buyer and any letter agreed under Section 26.3 signed by . We use cookies to collect and analyse information on our site's performance and to enable the site to function. However, the judge ultimately found the most reliable evidence on which to base his assessment was the discount that the parties had agreed on an earlier off-spec cargo. TuI =[-6XzUbClf9{EAV#Ze=#L$1)]4Ft=RY]NJUS5ws-F[PH+X$/d' ty#bx'z&EJ)#+)+FWd%1K'VcUvP7nx%^y8}%$_L%UU/pb@eNBUB2J 12HVY'"-*&C]PG#?DC")Cs%O\IU General terms and conditions of purchase | Home - bp.com 1998-2023 Mayo Foundation for Medical Education and Research (MFMER). The judge applied this discount again and that extinguished BOILs counterclaim entirely. How to Write Terms and Conditions in 6 Easy Steps - Termly In the 2015 GTCs (Section 66), hedging or other derivative losses, which were excluded from the liability of the parties in Section 33.1 of the 2007 GTCs, are no longer expressly excluded. Oil & Gas: Resolving inconsistent quality determination - Lexology Alternative fuels in the shipping industry: What does the future hold? You may opt-out of email communications at any time by clicking on This document sets out BP's general terms and conditions for the supply of Fuel. They are intended to give directional indicators of the impact of changes in the trading environment on bp's 2023 full-year pre-tax results. I have read the bidder terms and conditions and hereby agree to the above terms and conditions of the auction. Amendments 2022 to Part 5 and Part 6 of the BP General Terms and Conditions for Sales and Purchases of Crude, A proposal for an IMO-led global shipping industry decarbonisation programme, Trafigura's standard terms and conditions for sales and purchase of physical non-ferrous metals, Trafiguras standard terms of business for emissions services and trading, White paper: Trade finance and regulation: The risk of unintended consequences. [Xb`^px'N;^)!MWi n9AR*=OXyd Standardisation of contract terms brings many benefits to the market, including the elimination of the basis risk for traders that would otherwise result from buying and selling on different contract terms. Separate parts have also been introduced dealing with road tanker and rail tank car deliveries. The judge concluded that the list of guaranteed specifications in the contract were not strict conditions of the contract, such that a breach would give rise to an automatic right to reject, but were intermediate or innominate terms.
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