• Trading

    What Contract means

    Object of the contract identified in a technical/quality document Term of the contract: Calendar date – Completion work Assignment: Contract – Credit arising out of the contract Termination: Infringements of the contractual terms – liquidation – reconstruction – bankruptcy Terms of delivery: • Incoterms • Transfer of responsibility • Title and risk of loss • Taxes and duties Authorization/license: Several types Prices: Firm and fixed – Escalation clause Insurance: Product liability – Personnel – Credit Confidentiality: Attachment “not disclosure agreement”. Contract Check List: ◊ GENERAL STATEMENT ◊ DEFINITIONS ◊ CONTRACT CHECK LIST ◊ PREVALENCE OF THE APPLICABLE DOCUMENTS ◊ CONTRACTING PARTIES AND SIGNATURE POWER ◊ OBJECT/SCOPE OF THE CONTRACT ◊ TERM OF THE CONTRACT ◊ ASSIGNMENT…

  • Oil Contract

    Crude Oil Contracts

      Major traded oils More than 170 different oils are traded on the market, but this section will discuss the three major oils that usually attract the most attention, both in the news and in the markets around the world. West Texas Intermediate (WTI) is a crude oil of extremely high quality and because of this property, it is possible to extract more gasoline from a single barrel compared with most other crude oils traded on the market. The WTI has an API 10 gravity of 39.6 degrees, which gives the oil the characteristic of “light”; moreover the concentration of 0.24 percent of sulfur makes it a “sweet” crude oil.…