tiktok���˰�

The Oil and Gas Purchase and Sale Agreement is a fundamental commercial document used in Indonesia's energy sector for trading oil and gas products. This agreement type is essential for establishing legally binding arrangements between sellers and buyers of oil and gas, whether for domestic supply or international trade. It must comply with Indonesian regulations, particularly Law No. 22/2001 and related implementing regulations, while addressing commercial requirements such as pricing mechanisms, delivery terms, and quality specifications. The agreement is typically used when parties need to establish a formal trading relationship for oil and gas products, whether for a single transaction or ongoing supply arrangement. It includes provisions for regulatory compliance, operational procedures, and risk allocation, making it a crucial document for energy trading in Indonesia.

1. Parties: Identification of buyer and seller, including registration details and addresses

2. Background: Context of the agreement, including relevant licenses and authorities

3. Definitions: Defined terms used throughout the agreement, including technical oil and gas terminology

4. Sale and Purchase Obligation: Core obligation for seller to sell and buyer to purchase, including quantities and contract term

5. Price and Payment: Price calculation methodology, payment terms, invoicing, and currency provisions

6. Quality and Quantity: Specification of product quality requirements and measurement procedures

7. Delivery: Delivery point, transfer of title and risk, shipping terms

8. Nominations and Scheduling: Process for scheduling deliveries and volume nominations

9. Transportation and Storage: Responsibilities for transportation and any storage requirements

10. Health, Safety and Environment: HSE compliance requirements and standards

11. Taxes and Duties: Treatment of taxes, duties, and other governmental charges

12. Force Majeure: Force majeure events and consequences

13. Default and Termination: Events of default, termination rights, and consequences

14. Liability and Indemnity: Allocation of risks and responsibilities between parties

15. Dispute Resolution: Dispute resolution procedures, governing law, and jurisdiction

16. Confidentiality: Protection of confidential information

17. Miscellaneous: Standard boilerplate provisions including notices, amendments, and assignment