Descripción del producto

 
TERMS:
 

1. Within*4hours after Seller providing PPOP, Buyer shall contact the tank farm to obtain port clearance/permit at its own cost to conduct the dip test in sellers tank within the validity date of the TSR and DTA, or Buyer provides its own valid TSA and TSR or Q*8 to conduct DIP Test in buyers tank.
2. Release of MT**3 wire transferred funds to Seller Designated Bank shall be activated against the value of lift able product as determined by SGS inspection at port Rotterdam, Dip Test Authorization and verification of Quality and Quantity as per Buyers Dip Test confirmed report.
3. Upon receipt of payment, Seller transfers Title Deeds to the Buyer.Buyer begins lift of product.
4. Balance of any payments outstanding against this invoice will be made according to Paragraph 2. Above, against each lift able consignment.

1. The Buyer, with Full Legal and Corporate Responsibility agrees and hereby makes this irrevocable commitment to purchase the said product in the amount and quality herein stipulated.
2. The Buyer has the right to reject the product if the product does not meet the specification as stated in Appendix 1
3. Commercial Invoice must signed by Buyer and Returned to Seller. This invoice will only become active after positive result of the Dip test and receipt and confirmation of MT**3 against transfer of title instruction by Seller. The balance of product reflected in this invoice including any possible rolls and extensions will be supplied on a pay by lift basis
4. Other than the obligation of Buyer to make payments to Seller for product received hereunder neither party shall be liable to the other for failure or delay in the performance of Sellers obligations when such failure is due to Force Majeure events as defined in the International Chamber Of Commerce ('ICC') ICC Force Majeure Clause ***3 and Hardship events as defined in the ICC Hardship Clause ***3.
5. The Buyer is entitled to take a maximum of *2 hours to perform all verifications of the quality of the Product with the written authorization given by the title holder or the Seller (Dip Test Authorization). And on the lapse of the said*4 hours from the time the DIP Test Authorization is issued to the Buyer, the Buyer shall be deemed to have fully accepted the product as is for the purpose of the transfer of ownership to the Buyer, if the Buyer does not or fails to document in detail any material deficiencies as to the quality of the product, and to send such document to the Seller.
6.  Upon failure of either party to comply with any of the conditions of this agreement the other party may withhold further performance hereunder until such conditions have been complied with or may at its option terminate the agreement as to further shipments.
7. Seller shall be responsible for, and shall pay, to the exoneration of Buyer, any and all taxes, duties, and similar impositions, and all charges, for the manufacture, delivery and storage of the Product, related to the performance of this agreement and collected up to the instant Buyer taking title of the Product. Buyer shall be responsible for, and shall pay, to the exoneration of Seller (and all parties from whom Seller had obtained legal title of the Product) any and all taxes, duties, expenses, and similar impositions related to the performance of this agreement, including but not limited to additional storage charges, after the instant Buyer taking legal title of the Product.
8. Measurements and Volumes will be determined at shore tank down-gauge by an inspection agency mutually agreed by Seller and Buyer. The component analysis and calculation of product volumes delivered by one party to the other shall be determined by the use of methods most currently approved by the American Society for Testing Materials (ASTM), API Manual of Petroleum Measurement Standards as they relate to quantity and quality of the Colonial Pipeline Company.
9. The Commercial Invoice/agreement may not be assigned without the prior written consent of Seller and Buyer. If the terms and conditions shown hereon are not acceptable by Buyer to constitute full agreement to cover the sale and purchase of the product please notify Seller immediately by phone and then follow up by e-mail.