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TERMS & CONDITIONS

GENERAL TERMS AND CONDITIONS

OF BUNKERS SALES AND SUPPLY

APPENDIX

01
General Terms & Conditions for the sale of Marine Bunker Fuels & Lubricants
03
Price & Further Charges
05
Delays -Force Majeure
07
Measurement of Quantity –Complaints
09
Payments
11
Termination
13
New and Revised Local Regulations
15
No partnership
17
Rights of Third Parties
19
Maritime Lien
21
Law and Arbitration
02
Definitions
04
Nominations and Deliveries
06
Marine Fuels Quality
08
Risk and Property
10
Liabilities -Obligations
12
Exceptions
14
Succession
16
Information
18
Waiver
20
The text of these conditions

  • 01- General Terms & Conditions for the sale of Marine Bunker Fuels & Lubricants

    FINECOR OIL BUNKERING S.A.(hereinafter "the Supplier") under the following Terms and Conditions , agrees to sell and deliver Marine Fuels and Lubricants at the Greek Ports , at Piraeus area including , Perama , Elefsis , and any other Greek Ports.

  • 03- Price & Further Charges

    a) Prices quoted for any supply are either formula based in regard of the date of loading or delivery or on the confirmed Prices before supply.

    b) Prices quoted are for delivery to recipient vessel’s ex-wharf except otherwise agreed.

    c) Any rebate/discount quoted and agreed will apply on basis of the Posted Price on Date of Delivery or on the confirmed Prices before supply.
    Prices offered and agreed are for delivery within two (2) days subsequent to vessels specified E.T.A. advised by Buyer at time of stem , Prices for delivery beyond this range are subject to revision at FINECOR’S option.

    d) In addition to the Prices payable for Marine Fuels , the Buyer shall pay the following charges:

    i. Any expenses incurred as a result of the Master of the vessel rejecting the whole or any part of the delivery.
    ii. Wharfage , barging and/or pipeline dues (as may be applicable at the place of delivery), overtime , environmental surcharges , shall be paid extra by the Buyer together with the Price of the Product unless otherwise agreed in written.
    Iii.Any mooring or unmooring charges or port dues which may be incurred by FINECOR relating to any vessel to which Marine Fuels are delivered hereunder.
    iv. Any duties , taxes (other than taxes on profits) , impositions , charges , freights , premiums , or other costs incurred by FINECOR , or for which FINECOR is accountable , in respect of deliveries of Marine Fuels.
    v. If THE SUPLIER (not having duty-free stocks available , and the Buyer first having been advised that this is the case) delivers to the Buyer from duty paid stocks , the amount of such duty.
    vi. Any additional costs incurred by FINECOR in respect of deliveries made under a Commitment including payments for overtime.
    vii.Any additional charges detailed in the Port Guide.

    e) There Shall be no charge if Buyer changes and/or cancels its Order until forty-eight (48) hours before the earliest estimated delivery time quoted in the Buyer's Order or the Commitment. If the Buyer changes and/or cancels its Order within the forty-eight hours before the estimated delivery time , the Buyer shall be liable for any and all losses suffered and liabilities incurred by the Supplier as a result of the cancellation , including , without limitation all relevant costs. These losses and liabilities shall be indemnified in a minimum amount of USD 1,000 or equivalent EUR amount with the exchange rate of the cancellation date for deliveries by truck or ex pipeline and a minimum amount of USD 5,000 or equivalent EUR amount with the exchange rate of the cancellation date for deliveries by barge.

    f) The Buyer shall be liable for all costs , expenses and/or charges inclined by FINECOR on account of the Buyer's failure , breach and/or non-compliance with its obligations.

  • 05- Delays -Force Majeure

    a) Vessels are always bunkered as promptly as circumstances permit and allocation of the individual deliveries shall be made to Buyers' vessels on a first-come first-served basis , subject to FINECOR'S final decision.Deliveries are always subject to weather permit.

    b)FINECOR shall not be liable for any demurrage , expense , damage, delay or any loss incurred by the vessel as a result of any delay due to congestion affecting delivery -facilities or to prior commitments of barges or to restrictions or to delays imposed by Port or Customs and any other Authority save for the proven gross negligence of the Supplier/its executives or the intensive action thereof. The Supplier’s liability under any circumstances shall not exceed the proven actual running costs of the Vessel for the period of any delay for which the Supplier may be liable.

    c) If either party is rendered unable by Force Majeure to perform or comply fully or in part with any obligation or condition of the vessel's supply and or serve , upon such party's giving written notice by letter or Email or to fax , the other party of Such Force Majeure within forty-eight (48) working hours after receiving notice , thereof. Such performance or compliance shall be suspended during the continuance of the inability so caused , and such party shall be relieved of liability and shall suffer-no prejudice for failure to perform the same during such period. In the event that the said period of suspension or performance shall continue in excess of thirty (30) calendar days , the agreement of supply may be cancelled with mutual agreement without liability of either party.

    d) As used herein , the term "Force Majeure" shall include , by way of example and not in limitation , fire , wars of deliberant action , riots of commotions , acts of God , heavy storms and high sea , navigational accidents , vessel damage or lose , accidents at or closing navigation or transportation mechanism , strikes , grievances , or actions by or among workers , luck-outs , or other labor disturbances , explosions or accidents to wells , pipelines , storage depots , refinery facilities , machinery , and other facilities , actions of any government or by any person purporting to represent a government , or other cause not reasonably within the control of the respective parties.

    e) If the Supplier shall suffer any loss of tanker or barge tonnage , or if compliance with an Order or request of any governmental or other competent authority shall reduce the tanker of barge tonnage available for the normal movement of the Products the obligation to make deliveries hereunder may be reduced at Supplier's option approximately in proportion to such loss or reduction. The Supplier shall not be required to make upon any deliveries omitted in accordance with this clause. The Supplier shall generally not be liable for any total or partial inability to supply any Product and/or for any delay , by reason of any cause which is not within the immediate control of the Supplier.

  • 07- Measurement of Quantity –Complaints

    a) The quantities of Marine Fuels delivered shall be measured and calculated in accordance to the Greek regulations applicable at time of the delivery from the gauge of Supplier's shore tanks , the barge effecting delivery or Supplier's oil meter or the methods of any other recognized standards authority at the discretion of FINECOR.

    b) The Delivering Company's measurement shall be accepted as conclusive and the Representative from the vessel is at liberty to attend at the measuring.

    c) Complaints of short delivery for either Fuels or Lubricants shall only be admissible if made to the Delivering Company and noted by a letter of protest during completion of the delivery and before departure of the vessel from the part/alongside. A Letter of Protest must contain a clear stipulation of the basis of the Buyer's complaint(s). In any event the Buyer is not allowed to mark the delivery Receipt for bunkers or Lubricants.

    d) Buyer at his own expenses shall have the right to appoint an approved official Petroleum inspector to inspect the Marine Fuels to be delivered always subject to Supplier’s approval.

    e) Weights valid subject to Customs' Certificates and are binding for all parties. Barges are loaded basis shore tank figures and sealed by Customs. Once barge sealed product is considered sold export and cannot be returned. In case receiving vessel cannot receive the full loaded/ordered grades and quantity , all barge’s detention depumping and Custom expenses will be charged to the Buyer.

    f) Where the determination of supplied quantity is made according to the delivery barge's ullage report prior and after delivery duly signed and stamped by both parties or by officially calibrated barge's flow meter readings no subsequent quantity claim shall be valid.

    g) In the case of Lubricants , their quantity shall be determined by the signing of the Delivery Receipt by an officer of the Vessel.

    h) No quantity dispute will be accepted should vessel's representative refuse to witness barge figures (prior and after delivery).

  • 09- Payments

    a) Remittance will be arranged by the Buyer against FINECOR'S Email , fax or otherwise sent Invoice and or within the agreed payment terms , without any reduction for any reasons , irrespective of having received or not Hard Invoice or Delivery Receipt and any other documents.

    b) Any payment delay shall be compensated for remittance to include interest at 2.00% per month or pro rata on the delayed days , until the full and final settlement of the invoice.

    c) FINECOR shall receive the full invoice value , Bank or other charges are unacceptable. Payment for the supply including other charges shall be made in full (any discount , with holding , offset or allowance , including bank charges for the electronic wire transfer or counter claim whatsoever) according to , payment instructions on FINECOR , fax or otherwise sent Invoice. Payment shall be deemed to have been made on the date the payment is credited to the bank account designated by the Seller. If the payment date falls on a non-business day , the Buyer shall pay on or before the business day nearest to the due date. If the preceding and succeeding business days are equally near to the due date , then payment shall be made on or before the preceding business day.

    d) Where the Buyer fails to pay timely , the Supplier has the right to (without prejudice to its right to receive default interest) take all appropriate steps to secure and enforce its claim; the Supplier may also unilaterally cancel any credit arrangements agreed with/extended to the Buyer.

    e) All judicial and extrajudicial costs and expenses , including all the extrajudicial costs , expenses and disbursements of Supplier's lawyers , incurred in connection with non-payment or delayed payment or by any other breach by the Buyer of these conditions shall be for the Buyer's account , immediately payable by the latter to the Supplier. In case of litigation , the Buyers shall also pay all the relevant expenses of the Supplier , including but without limitation all its legal/lawyers' costs.

    f) The Buyer or any other party is not entitled to place any markings on the Delivery Receipts as to nonliability on its part to pay for the Products. Any such making placed without agreement shall have no validity or effect whatsoever; where such marking is placed before the completion of the delivery of the Product(s) the Supplier has the right to withhold , interrupt or cancel the supply , with all relevant delay being for the account of the Buyer.

    g) Strictly prohibited for the invoice and relevant amount due to be assigned , endorsed or otherwise transferred to any third party without previous written consent of FINECOR.

    h) If Bunkers are supplied or to be supplied on credit and if the financial condition of the Buyer becomes in the opinion of FINECOR impaired or unsatisfactory , FINECOR may demand that payment be made at any time before the date due for payment whether before or after delivery of the Bunkers or may demand the giving of such security as it may specify.

  • 11- Termination

    a) Without prejudice to any other rights and remedies, FINECOR may by notice to the Buyer terminate any Commitment it may have for the delivery of marine Fuels to the Buyer with immediate effect if:
    i. the Buyer is in breach of any of its obligations under any Commitment and fails to remedy such breach within 30 days after written notice of the existence of such breach;
    ii. there is a change of Control of the Buyer;
    iii. the Buyershould go into liquidation or should do or suffer any similar act or thing under any applicable law , such as the making of a general assignment for the benefit of creditors by the Buyer; or the entering into of any arrangement or composition with creditors (other than for the purposes of a solvent reconstruction or amalgamation); or the institution by the Buyer of proceedings seeking to adjudicate the Buyer as bankrupt or insolvent , or seeking protection or relief from creditors , or seeking liquidation , winding up , or rearrangement , reorganization or adjustment of the Buyer or its debts (other than for purposes of a solvent reconstruction or amalgamation) , or seeking the entry of an Order for the appointment of an administrator , a receiver , trustee or other similar official for the Buyer or for all or a substantial part of the Buyer's assets; or the institution of any proceeding of the type described above against the Buyer; or
    iv. anything analogous to any of the events described in paragraph (iii) happens to or in relation to the Buyer in any jurisdiction

    b) Subject to section (c) , a change of Control shall occur for the purposes of these Terms and Conditionswhere:
    i. a person acquires Control of the Buyer where no person previously had control of the Buyer; or
    ii. the ultimate parent company of the Buyer ceases to have Control of the Buyer; or
    iii. a person acquires Control of the ultimate parent company of the Buyer; or
    iv. a person who is not under the Control of the ultimate parent company of the Buyeracquires
    v. Control of the Buyer.

    c)For the purposes of these Terms and Conditions , Control means , in relation to any company , having legal and beneficial ownership of not less than 50 per cent of the voting rights attached to the issued share capital of that company.

    d) On termination of any Commitment all sums owed to FINECOR shall become immediately due and payable.

    e)Without prejudice to any other rights or remedies , FINECOR may suspend deliveries or vary the stipulated method of payment with immediate effect if the Buyer iS in breach of any of its obligations under any Commitment.

  • 13- New and Revised Local Regulations

    a)It is understood by the parties that the parties are entering into a Commitment in reliance on the laws , rules , regulations , decrees , agreements , concessions and arrangements (hereinafter called "Regulations") in effect on the date hereof with governments , government instrumentalities or public authorities affecting the Marine Fuels sold hereunder including , but without limitation to the generality of the foregoing , those relating to the production , acquisition , gathering , manufacturing , transportation , storage , trading or delivery thereof , insofar as such Regulations affect FINECOR.

    b)In the event that at any time and from time to time during the term of a Commitment any Regulations are changed or new Regulations become effective whether by law , decree or regulation or by response to the insistence or request of any governmental or public authority or any person purporting to act therefore , and the effect of such changed or new Regulations (i) is not covered by any other provision of these Terms and Conditions , and (ii) has a material adverse economic effect upon either the Supplier or the Buyer , then the Supplier or the Buyer(as the case may be) , shall have the option to request renegotiations of the Prices or other pertinent terms provided for in these Terms and Conditions. Said option may be exercised by the relevant party at any time after such changed or new Regulation is promulgated , by written notice of desire to renegotiate , such notice to contain the new Prices or terms desired by that party. If the parties do not agree upon new Prices or terms within thirty (30) days after the relevant party has given such notice , the relevant party shall have the right to terminate any Commitment at the end of the said thirty (30) day period. Any Marine Fuels lifted during such thirty (30) day period shall be sold and purchased at the Price and on the terms applying here under without any adjustment in respect of the new or changed Regulations concerned.

  • 15- No partnership

    Nothing in a Commitment and no action taken by the parties under a Commitment shall constitute a partnership , association , joint venture or other co-operative entity between any of the parties.

  • 17- Rights of Third Parties

    a) It is intended that the undertakings and obligations of the Buyer herein are taken by FINECOR for its own benefit and for the benefit of FINECOR Affiliates and, subject to the provisions of section (c) ,are intended to be enforceable by such parties.

    b)Except as provided in section (a) , no term or condition contained herein shall be enforceable by any person who is not a party to that Commitment.

    c) Notwithstanding section (a) above , the relevant Commitment may be varied or terminated by the parties to such Commitment without notice to or the consent of any third party.

  • 19- Maritime Lien

    The sale of Products to the Buyer and/or their acceptance on the vessel affords to the Supplier a maritime lien on the Vessel for the Price of the Product(s) and all interest/overdue payment charges and costs payable thereof. In any event the law governing these Terms and Conditions and/or any other applicable law shall not prejudice the right of the maritime lien of the Supplier afforded either hereunder or by any other applicable law , be it of the place of delivery , of the flag of the Vessel , of the place of jurisdiction , and/or of an arrest of the Vessel , or otherwise howsoever.

  • 21- Law and Arbitration

    The provisions hereof and the performance of any agreement shall be governed by the laws of Greece. Any dispute arising out of/or in connection with a Bunkering Commitment governed by these Terms and Conditions(including any question regarding its existence , validity or termination) shall be referred to and finally resolved by the Greek Courts of Piraeus , Greece. However , nothing in the clause shall preclude or prevent the Supplier in the event of a breach of this Agreement by the Buyer from taking any such actions for the purpose of securing and/or enforcing its rights hereunder , before any other Court or Tribunal of any other country or state , including (but without limitation) to enforce its maritime lien rights , arrest the Vessel , cause her sale by auction or Court Order , etc.


  • 02- Definition

    For the purposes of these General Terms and Conditions of Sale:

    a)"Buyer" means , jointly and severally , in any event the owner of the Vessel and/or (as the case may be) the manager of the Vessel , and/or the agent , and/or the charterer , her demise charterer and any other party which has contracted with the Supplier for particular supply of Products and is stated as a Buyer in the Supplier's "confirmation of supply" or invoice.The manager of a Vessel shall , unless otherwise advising the Supplier in writing before the latter dispatches its "Confirmation of Supply", be deemed as acting for itself and for the owner of the Vessel.

    b)"Products" means the Fuel Oil and/or Marine Gas Oil and/or any other kind of marine Fuel and/or marine Lubricants with the Supplier may supply the Vessel.

    c)"Bunker Tanker " means bunker barge or tanker or tank truck supplying Marine Fuels to the vessel as specified in the Nomination.

    d)"Price" means the agreed Price between Supplier and Buyer as stated in the Confirmation of Supply.

  • 04- Nominations and Deliveries

    a) Nominations will be confirmed by Email , fax or Signed Supply Order to FINECOR in respect of each delivery , at the agreed terms and stating grades and quantities to be delivered. FINECOR shall acknowledge the Nomination.

    b) Supplier's written "Order Confirmation" dispatched by FINECOR prior to delivery and which has not been contested in writing by the Buyer before the process for the delivery of the Products to the Vessel , shall be conclusive evidence of the Order for Products placed by the Buyer , the identity of the latter and the Price and other details of delivery thereof. The party(ies) stated in the relevant Order Confirmation of FINECOR , as Buyer(s) shall be deemed to be the Buyer of the respective Products on a joint and several basis. If the Supplier's Confirmation of Supply or any other form thereof is contested , FINECOR has the right to cancel the relevant supply if no agreement has been reached timely with regard to the issue(s) contested.

    c) FINECOR shall be given minimum two (2) working days notice of the delivery required from the nominated lifting date.

    d) Nominations are on firm date of delivery and FINECOR has the right to cancel without liability to either party if vessel does not arrive at delivery wharf or rendezvous place and present itself for delivery within twenty-four (24) hours of indicated E.T.A. on Nomination telex, fax of Signed Supply Order.

    e) Where such option is possible at the Delivery Port , deliveries hereunder shall be made ex-pipeline , ex-wharf (by truck) or ex-lighter (barge).

    f) FINECOR has the right to deliver the agreed quantity of bunkers in one consignment or in part lots , each part lot delivery is considered as a separate transaction.

    g) In the event Buyer fails to take delivery of the quantities nominated , Buyershall be responsible for any costs resulting from Buyer's failure to take delivery , as well as for any losses incurred by Supplier to downgrade the Fuels.

    h) In case of the replenishment tankers' delay in arrival at Bunkering installations or short supply or any delay of supply by local Supplier or Refinery , FINECOR has the right to cancel the stem without responsibility. Supplier's obligation to make any delivery is subject to the availability of the Product at the delivery port at the particular time.

    i)FINECOR undertakes to provide barging service if any , at Port area only within normal harbor/anchorage space and time limits.

    j) If FINECOR at any time and for any reason believes that there may be a shortage of Product(s) at any port that it may be unable to meet the demands of all its customers , FINECOR may allocate its available and anticipated Product among its customers in such manner as it may in its sole discretion determine.

    k) If in the course of any delivery there is any escape or spillage of Marine Fuels:
    i. The recipient vessel shall promptly take and shall assist and co-operate with the Delivering Company in taking any necessary action to remedy or to mitigate the consequence thereof.
    Ii. The vessel shall supply the Delivering Company with all such documents and information concerning the same or are required by law or regulation applicable at the Delivery Port.
    iii. The costs and expenses of remedying or mitigating the consequences of any escape or spillage of Marine Fuels which occurs in the course of any delivery shall , except to the extent that the same is caused by the negligence of the Delivering Company , to be borne by the vessels/Buyer who shall identify the Delivering Company against all claims for damages , costs , fines and penalties arising out of or in connection with the same.

    l) The Supplier shall not be required to deliver a Product into any of the Vessel's tanks or spaces which are not regularly used for storage of such Product , and shall not be required to deliver any Product for the export of which a Government permit is required and has not been obtained. Any export or other permit which may be required from time to time by any Government must be promptly and timely obtained by the Buyer.

  • 06- Marine Fuels Quality

    a) FINECOR can only deliver the quality and specification as revived from the replenishment tankers of the Refineries , which specifications may vary upon the replenishment received and without prior notice in order to meet the production requirements and shall conform to the Greek specifications applicable for the relevant grade or product being delivered , unless otherwise agreed between Supplier and Buyer. Moreover , the above local specifications supersede any other specifications which may be agreed to by the Supplier in good faith.
    The Buyers shall have the sole responsibility for the nomination of the specifications and grades of Marine Fuels fit for use by the Vessel and determine (if applicable) the potential compatibility with any bunkers already on board the Vessel , as well as to assure that the Marine Fuels do not jeopardize the safety of the Vessel , adversely affect the performance of the Vessel’s machinery , harm personnel or contribute to additional air pollution. This section constitutes the whole of FINECOR's obligations with respect to the quality of the Marine Fuels to be supplied and (save to the extent that exclusion thereof is not permitted or is ineffective by operation of law) all statutory or other conditions and/or warranties and/or representations , express or implied , with respect to the description or quality of the Marine Fuels or its fitness for any purpose , or the absence of bio-components in the Marine Fuels are hereby excluded.

    b) Where standard specifications are given , variations within the ISO 4259 standards for sample repeatability shall be accepted by the Buyer without any liability on the part of the Supplier in relation to the quality or otherwise.

    c) FINECOR’s stuff will arrange for(3) identical representative samples to will be taken for each product of bunkers supplied from Installation and or trucks manifold used and or barge manifold by the drip method for quality purposes according to international guidelines to date. These samples will be sealed by FINECOR’s seal marks , ink marked and signed by both parties. Two (2) samples of those will be landed to the Buyer’s receiving vessel Master/Chief Engineer (one of which (1) known as MARPOL control sample). The other one(1)will be kept by the Delivering Company , and only these (3)samples shall be the final and conclusive evidence of the quality and composition of the goods delivered. The above described sampling procedure should be witnessed from both sides and all samples should be taken mutually and undersigned by both vessels' Master and or Chief Engineer and Installations representative/barges Master. The above samples’ numbers will be stated on the Bunker Delivery Receipt issued by FINECOR.

    d) Any quality dou