Bunker Agreement

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1. SUBJECT OF THE CONTRACT

1.1 The Supplier is obliged to arrange bunkering of the vessels with fuel and lubricants in accordance with the request letter, thus duration of bunkering process is defined by technological features of bunkering process and quantity of fuel and lubricants declared by the Customer for bunkering. 1.2 The Customer is obliged to give in due time the vessel for bunkering in agreed with the Supplier place, accept and pay for the fuel and lubricants in proper time.

2. THE PRICE AND THE ORDER OF PAYMENTS

2.1 Total price of the Contract is determined by request letters of the customer. 2.2 The quantity and price of the fuels and lubricants is determined by the coordinated request letters of the Customer, Final product's price includes all the overhead expenses comprising delivery of gas oil, bunkering operations, taxation and customs formalities. 2.3 Price for a ton of Fuel is established in the amount of the price of the supplier, current on the date of delivery in US dollars: Price 1- in case there is a Buyer's indication in the request for bunkering a vessel about necessity to fill in customs documentation in accordance with the customs procedure of supply transfer. Price 2- in case there is no indication in the request for bunkering a vessel about necessity to fill in customs documentation in accordance with the customs procedure of supply transfer. 2.4 On the fact of bunkering the Supplier sets out invoices to the Customer to pay for bunker fuel, bunkering services and transport charges in accordance with the p.2.2 of the present Contract. 2.5 The Customer is to pay the accounts within 30 calendar days since the moment of bunkering. The third party may pay on the basis of the Contract. 2.6 If fuel supply was carried out on the basis of the Buyer's request at Price 1, but the customs authorities didn't confirm fully or in part the actual removal of the Fuel, the supplier has the right to demand from the Buyer to pay a compensation in the amount of difference between Prices 1 and 2, based on the quantity of the Fuel, which removal was not confirmed. The Buyer in this case is liable to make payment in accordance with an additional invoice during 15 (fifteen) calendar days. 2.7 The Customer carries all charges on transfer of money resources. 2.8 The paying is effected in USA dollars

under the following essential elements:
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3. TIME AND TERMS OF DELIVERY

3.1. The Supplier is obliged to:
- Provide gasoil delivery and bunkering of the Customer's vessels before they put out in accordance to the request letters. - Arrange bunkering process meeting all the requirements of fire and ecological safety; - Provide the services on customs formalities clearance for the bunker gas oil for the vessels sailing abroad and transfer to the representative of the Customer all the necessary documents for confirmation of actual export of gas oil abroad of Russian Federation; - Guarantee gas oil quality. Confirm oil product quality by a certificate of quality (fuel passport); - Arrange all the relevant documents confirming the fact of bunkering, - In a proper time inform the Customer on tariffs, operation regime, bunkering terms and conditions, ways of bunkering (from a bunkering tanker, auto-fuel-carrier), and others. - Other organization services like, tugboat and other assistance may be ordered by the Supplier for an extra charge in coordination with the Customer. 3.2 The Customer is obliged to:

- Submit the letter of request in a proper format preliminary coordinated with the Supplier for the vessel bunkering not later than 2 days before bunkering. - The letter of request is to be presented on the company's letterhead and should contain the following : the name of the vessel, vessel's arrival time for bunkering, the place of bunkering, port of registration, full name of ship-owner, charterer and their addresses, the basis of chartering of the vessel...
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