Notice of Sale [Energy] Law and Legal Definition
According to 10 CFR 625.2 (b) [Title 10 Energy; Chapter II Department of Energy; Subchapter I Sales Regulation; Part 625 Price Competitive Sale of Strategic Petroleum Reserve Petroleum], the Notice of Sale is “the document announcing the sale of SPR petroleum (Strategic Petroleum Reserve), the amount, type and location of the petroleum being sold, the delivery period and the procedures for submitting offers. The Notice of Sale will specify which contractual provisions and financial and performance responsibility measures are applicable to that particular sale of petroleum, and will provide other pertinent information.”
