271 ENERGY LAW Framework and Key Provisions of the General Agreement Contractual Documents One of the biggest benefits of having a framework agreement is that it eliminates the need for the parties to individually negotiate extensive contractual terms for every single agreement that they conclude. The General Agreement achieves this goal by combination of several documents which are as follows: • The General Agreement text • Annex 1 which lays out the definitions used in the General Agreement • Annex 2a for confirmation of individual contracts with fixed price • Annex 2b for confirmation of individual contracts with floating price • Annex 2c for confirmation of individual contracts for call options • Annex 2d for confirmation of individual contracts for put options • The Election Sheet The General Agreement is structured as a general framework for selling electricity and articulating the matters which are most likely to cause disputes between the parties to an electricity supply agreement.4 Through the Election Sheet, it gives the opportunity to the parties to efficiently opt-in or opt-out of the application of certain provisions of the General Agreement to their contractual relationship. Once the parties execute the General Agreement and the Election Sheet, they may use the appropriate confirmation forms annexed to the General Agreement for entering into individual contracts regarding electricity sale and purchase (“Individual Contract”). It should be 4 Ayrancı, Hasan: Enerji Sözleşmeleri, Yetkin Yayınları 2010, p. 132, fn. 225.
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