Practice of contracts drafting for the international sales of crude oil and petroleum products
The authors analyzed a selection of international sales contracts of crude oil and petroleum products, made from the mid-90s to 2008. The materials contained in the contracts give significant information for the characterization of the contract management practice in international sales of crude oil and petroleum products. The authors note that the crucial issue of transactions for international sales contracts of crude oil and petroleum products is the drafting of the contracts terms and provisions. While most lawyers in the cases analyzed first use a standard text of the contract, and then draw up a supplementary agreement, pursuant to which the contract execution and payments are made.