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Contracts Expertise

Oil industry sales and purchase contracts and a companies' standard terms and conditions of business may only receive detailed consideration when a dispute arises, by which time it may be too late. Trading departments may be chartering vessels or buying and selling oil cargoes using terms which are out of date, unsuited to the company's current business needs or simply copied from terms used by the company's competitors. If proper contracting procedures are not followed, oil companies may sometimes not even be contracting on the company's own terms because the counter party has succeeded in substituting their own.

Adsem is regularly brought in as an expert consultant to consider these issues and assist clients in review of the key areas which should be addressed when drafting or reviewing standard terms for the sale and purchase of oil and chartering in vessels. When asked to advise on contracts, we set out a framework for how a company's transactions will be dealt with and brought to a conclusion without the additional time and expense involved in drawing up specific terms for each individual transaction. We enable a company to impose terms favourable to itself upon others without negotiation and, in particular, to limit its liability (in the case of sale terms) or to extend the liability of the seller (in the case of purchase terms). We assist by providing certainty in relation to transactions that form the main part of the trade of the company through the use of the same set of terms in all cases. Standardisation of a company's contracting procedures enables contracts to be handled and concluded by more junior staff.

 
Cobat House
1446-1448 London Road
Leigh-on-Sea, Essex
SS9 2UW, United Kingdom

Office: +44 1702-481656
Email: [javascript protected email address]
  • Full Service Offices
    • Asdem - Singapore
      50 Raffles Place, Level 30
      Singapore 048623
      Office:+65 6534-9278
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    • Asdem - Mumbai
      712, Raikar Chambers
      Govandi (East), Mumbai India
      Office:+91 22-6511 9222
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    • Asdem - Bangkok
      Bangna Tower A, 16th Floor
      Bangkok, Thailand
      Office:+66 6-1465-8754
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    • Asdem - Philippines
      8430 San Bernadino Road
      SBMA, Subic Bay, Philippines
      Office:+63 927-954-1475
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  • Representative Offices
    • Asdem - Dubai
      Emirates Towers, Level 41
      Dubai, United Arab Emirates
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