General Terms and Conditions

Physical Supplier’s General Terms and Conditions
a) Products delivered conform to ISO 8217/2005 specifications.
b) Nominated prices are valid for 10 days from the nominated date. Prices are subject to change
after said validity period.
c) Cancelled orders are subject to a $4 per mt fee prior to barge or truck loading.
d) Cancelled orders which were loaded prior to the cancellation advice will be subject to
demurrage charges including the cancellation fee indicated above.
e) Payment due date will be based upon the actual delivery date.
f) Royalty fees imposed by berth owners and/or operators will be charged at the receiving vessel’s
g) Final quantity delivered will be based on barge sounding figures indicated on the Barge Sounding
Report and the Bunker Delivery Receipt, duly acknowledged by the Receiving Ship and Barge
h) Sampling procedures are compliant with Annex VI of Marpol 73/78. In the event that
continuous dripping sample from the receiving ship’s bunker manifold is not permissible, an
alternative dripping sample from the barge’s manifold shall be performed.
i) There will be three (3) sample bottles that will be produced by the procedure in the
previous Condition. One (1) sample will be retained by the Ship and shall be considered as the
Ship’s retained sample, while two (2) samples will be retained by the barge and shall be considered
as the barge’s retained sample and the consequent Marpol sample. These samples are to be duly
acknowledged by the Receiving Ship’s and Barge’s Representatives.
j) In cases of disputes arising from quality claims, the Barge’s Retained Sample shall be the
Representative Sample which will be sent to a reputable laboratory mutually agreed upon by the
parties involved, and shall serve as the basis for mitigating said claims.
k) Quality and/or quantity claims are time-barred 21 days from the time the product has been
delivered. The reason being that these claims are urgent in nature and thus should be put to notice
at the soonest possible time.
l) Payments made beyond the agreed credit terms shall be subject to an additional over- due charge
equivalent to: Total Amount Due x Current Philippine Interest Rates x No. of Days Beyond Due
m) Petrotrade Philippines Inc. shall not be held liable for liabilities which may arise beyond the
scope of the purchase agreement. Any civil or criminal charges which may arise shall be held and
tried in Regional Trial Courts within Quezon City, Philippines.

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