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Title: Elenents Of Natural Gas Liquid Contracts
Author: R. Taylor
Source: 1990 International School of Hydrocarbon Measurement
Year Published: 1990
Abstract: The basic secticxis of a natural gas liquid purchase, sale or exchange contract are: Basic Agreement Bas ic Terms Genera1 Terms and Conditions and Exhibits. The Basic Acireement area defines the date, parties, ownership and consideration. The Basic Terms area estciblishes specifics relative to the performance of this particular contract, such as: definitions term delivery/receipt location quantity price i nvoi c i ng, payment, and account i ng product specifications and measurement, sampl-ng and analysis. The General Terms and Conditions area relates detailed legal parameters, such as: Title Force Majeure warranty/taxes notices aws and regulations record and audit severability non-waiver Entire Agreement and assignment. The Exhibit area provides an cf)portunity to include detailed information in a contract without cluttering up the contract.

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