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Title: Elemem-S Of Natural Gas Liquid Contracts
Author: R. R. Taylor
Source: 1991 International School of Hydrocarbon Measurement
Year Published: 1991
Abstract: The basic sections of a natural gas 1iquid purchase, sale or exchange contract are: Basic Agreement Basic Terms Genera1 Terms and Conditions and Exhibits. The Basic Agreement area defines the date, parties, ownership id consideration. The Basic Terms area est-ablishes specifics relative to the performance of this particular contract, such as: definitions term delivery/receipt location quantity price invoicing, payment, and accounting product specifications and measurement, sanpling and analysis. The General Terms and Conditions area relates detailed legal parameters, such as: Title Force Majeure warranty/taxes notices laws and regulations record and audit severability non-waiver Entire Agreement and assignment. The Exhibit area provides an opportunity to include deta i1ed i nformat i on in a contract w i thout cluttering up the contract

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