Terms and conditions
 
Definitions
  • Buyer means the contracting party/ies identified in the Nomination including but not limited to any agent, principal, associate, manager, partner, servant, parent, subsidiary, owner or shareholder thereof and any vessel as defined in clause and/or vessel owner and/or charterer and/or operator to which the Products have been delivered to and/or any other party benefiting from the consumption of the Products.
  • Confirmation means Med Petroleum’s written confirmation of the supply.
  • Contract means the Confirmation and the Terms and Conditions and in the event of any conflict between the present terms and the conditions and the terms of the Confirmation, the terms of the latter shall prevail.
  • Due Date means the date specified in the Confirmation for payment of the Price or in the absence of such date the date of delivery.
  • Further Costs mean the costs enumerated in clause.
  • Physical Supplier means the person/company which physically supplies the Products to the Vessel together with these persons"/companies" servants, agents, successors, sub-contractors and assignees.
  • Point of Delivery means the place at which delivery of the Products is to be affected as provided in the Confirmation, or as thereafter confirmed, advised or revised by Med Petroleum.
  • Price means the basic cost of the Products calculated by multiplying the unit price stated in the Confirmation by the quantity of the Products delivered to the Vessel in addition to further costs.
  • Terms and Conditions mean these standard terms and conditions of Med Petroleum.
  • Vessel means the Vessel identified in the Confirmation to which a delivery of the Products is made and/or on board which it is consumed, which shall include any on-shore tank, rig, or other unit or installation supplied by the Seller.
  • The headings herein shall be used only for convenience and shall be ignored for the interpretation of the Terms and Conditions.
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