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DOCPROPERTY"CUS_DocIDString"
11593v1
PublicationVersion
Copyright©2007byInternationalSwapsandDerivativesAssociation,Inc.
DOCPROPERTY"CUS_DocIDString"
11593v1
EXHIBITA
totheISDANorthAmericanU.S.CrudeOilandRefinedPetroleumProductsAnnex
Introduction,StandardParagraphsandClosing
foraLetterAgreementConfirmingaU.S.DomesticPhysicalOilTransaction
HeadingforLetterAgreement
[LetterheadofPartyA]
[Date]
U.S.DomesticPhysicalOilTransaction
(PipelineDelivery)
[NameandAddressofPartyB]
Dear :
ThepurposeofthisletteragreementistoconfirmthetermsandconditionsoftheOilTransactionenteredintobetweenusontheTradeDatespecifiedbelow(the“Transaction”).Thisletteragreementconstitutesa“Confirmation”asreferredtointheISDAMasterAgreementspecifiedbelow.
Thedefinitionsandprovisionscontainedinthe2005ISDACommodityDefinitions(the"CommodityDefinitions")(aspublishedbytheInternationalSwapsandDerivativesAssociation,Inc.)andtheISDANorthAmericanU.S.CrudeOilandRefinedPetroleumProductsAnnex(the
“OilAnnex”)areincorporatedintothisConfirmation.IntheeventofanyinconsistencybetweentheCommodityDefinitionsortheOilAnnexandthisConfirmation,thisConfirmationwillgovernforpurposesofthisTransaction.Notwithstandingtheforegoing,anyamendmentstotheCommodityDefinitionsintheScheduletotheAgreementareherebyincorporatedintothisConfirmationandanysuchamendmentsshallsupersedetheCommodityDefinitions,unlessotherwisespecifiedbelow.
1. ThisConfirmationsupplements,formspartof,andissubjectto,theISDAMasterAgreementdatedasof[date],asamendedandsupplementedfromtimetotime(the"Agreement"),between[NameofPartyA]("PartyA")and[NameofPartyB]("PartyB").AllprovisionscontainedintheAgreementgovernthisConfirmationexceptasexpresslymodifiedbelow.
TradeDate:
Seller:
Buyer:
[Broker: [*]]
OilProduct:
Grade: [Insertrelevantgrade/quality],asdefinedin[Insertrelevanttariff/specifications]
Quantity: [●]Barrels.
[TransferofTitle
andRiskofLoss: [Ifthepartieswishtovarytheprovisionsofclause(b)(i)oftheOilAnnex,insertrevisedlanguagehere.]]
DeliveryLocation: [FOB][FIP][Insertnameofapplicablepipeline]basis[●]/Deliveredat[ex-pipe][Insertnameofpointofwithdrawal][ForBuckeyeTransactions:Thepartiesagreethat,withrespecttothisTransaction,OilProductshallnotbedeliverableviabarge.]AdditionallanguageforBuckeyetradesonly.
DeliveryPeriod: [ ]
Cycle/Batch:Tobedefined.
[ ]
Price: [FixedPrice][InsertrelevantCommodityReferencePrice]
[FixedPrice: [U.S.$][●]per[Gallon/Barrel]]Tobeincludedifpricingisfixedatacertainmonetaryamount.
[CommodityReference
Price:]Tobeincludedifpricingreferencesapricesourceorindex.
[SpecifiedPrice: [Specifywhetherthepricewillbethebidprice,theaskprice,theaverageofthehighandlowprices,etc.;ifappropriate,indicatethetimeasofwhichthepriceistobedetermined]]
[PricingDate(s):]Tobeincludedifpricingreferencesapricesourceorindex.
[Specifydetails]Ifpricingreferencesapricesourceorindex,thepartiesmustspecifythedateordates,orthemeansfordeterminingthedateordates,onwhichapricewillbeobtained(includinganyapplicableCommodityBusinessDayConvention)
[MethodofAveraging:]ThepartiesmayspecifyaMethodofAveragingwheremorethanonePricingDateisspecifiedaboveasbeingapplicable.Ifnotspecified,unweightedarithmeticmeanshallapplyinaccordancewithSection6.2oftheCommodityDefinitions.
[PriceSource:]
[PTO: [Ifnecessary,insertanyspecificdocumentationrequirementthatisnotcapturedbythedefinitionof“PTO”inclause(s)oftheOilAnnex]]
[EFPProvisions
FuturesContract: [Inserttickersymbol(e.g.,“CL”or“RB”)]
FuturesContractPrice: [Insertfixedprice]
FuturesContractDate: [Insertdate(e.g.,“Jan-09”)]
[DeliveryDate:]
ADDITIONALTERMS:
CalculationAgent:[PartyA][PartyB][PertheAgreement]
[3. PaymentTerms:
AccountDetails:
AccountforpaymentstoPartyA:
AccountforpaymentstoPartyB:]
[4. Offices:
(a) TheOfficeofPartyAfortheTransactionis ;and
(b) TheOfficeofPartyBfortheTransactionis .]
__________________________________________________________________________
Closing
PleaseconfirmthattheforegoingcorrectlysetsforththetermsofouragreementbyexecutingthecopyofthisConfirmationenclosedforthatpurposeandreturningittousorbysendingtousalettersubstantiallysimilartothisletter,whichletters
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