INTEL
Status: blockedCLUSTERNovorossiysk-Turkish-Med Dark Fleet Cluster added — confirmedStatus: blockedCLUSTERPinnacle Petrol LLC added — likelyStatus: blockedCLUSTERSimar Chahal added — confirmedStatus: blockedCLUSTERSSW Kafcima added — likelyStatus: blockedCLUSTERNW Corp Singapore added — likelyStatus: pendingCORPUS429 entities · 64 countries
All terms

Contracts & documentsspa

SPA

Sale and Purchase Agreement — the binding contract for an oil cargo.

A Sale and Purchase Agreement (SPA) is the main binding contract for a physical oil trade. It covers product specs, volume and tolerance, loading and delivery dates, pricing formula, payment instrument, inspection arrangements, title transfer, force majeure, and arbitration clause.

Standard practice: GAFTA or AGC/CAGB arbitration, English or Swiss law, SGS or Intertek for inspection, LC at sight or CAD against documents. OilFlow Network generates SPA drafts via Claude Opus using legal-reviewed templates, always as DRAFT — FOR REVIEW BY INDEPENDENT LEGAL COUNSEL.

Related: ICPO, FCO, Bill of Lading.

See also

icpofcobill-of-lading

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