Common use of Delivery and Cancellation Clause in Contracts

Delivery and Cancellation. 6.1 Delivery shall be deemed completed by the Seller to the Buyer at the permanent intake connection of Buyer’s Vessel, whether product is delivered ex-wharf or by fuel barge. At either location, however, pumping shall be performed under the direction of Buyer or Buyer’s Vessel personnel. If full payment of any amount due to the Seller has not been made by the Buyer, the Seller has the right to attach or assert a maritime lien or claim against the vessel and/or sister ship and/or any other asset of the Buyer (or the owner of the vessel) whereby situated in the world without prior notice. 6.2 Buyer shall be responsible for connection of the loading hose to the intake of the Vessel from the Delivery vessel and shall monitor and direct safe receipt of the Bunker by the Vessel. 6.3 If buyer cancels or fails to take, in whole or in part, the delivery of Marine Fuels as specified in the Nomination and/or Confirmation Agreement, within the agreed delivery period for whatsoever reason other than a Force Majeure event, Buyer shall pay Seller a cancellation fee equal to the greater of (a) US $ 5 (Five United State Dollars) per metric tonnes and/or amount equivalent to currency of transaction mentioned in Nomination and/or Confirmation Agreement, as liquidated damages, and (b) all losses and liabilities incurred by Sellers as a result of such cancellation or failure to take full delivery, including without limitation (i) the difference in price as per the Confirmation and Seller’s reasonable estimate of market price for the delivery port as per the customary market marker on the date of such cancellation or failure to take full delivery, (ii) losses, costs and damages associated with terminating, liquidating, obtaining or re-establishing any hedging arrangement or related trading position, (iii) costs to sell, (iv) storage (v) pump back fees (vi) port dues (v) and/or any other expenses associated in relation with cancellation.

Delivery and Cancellation. 6.1 Delivery shall be deemed completed by the Seller to the Buyer at the permanent intake connection of Buyer’s Vessel, whether product is delivered ex-wharf or by fuel barge. At either location, however, pumping shall be performed under the direction of Buyer or Buyer’s Vessel personnel. If full payment of any amount due to the Seller has not been made by the Buyer, the Seller has the right to attach or assert a maritime lien or claim against the vessel and/or sister ship and/or any other asset of the Buyer (or the owner of the vessel) whereby situated in the world without prior notice. 6.2 Buyer shall be responsible for connection of the loading hose to the intake of the Vessel from the Delivery vessel and shall monitor and direct safe receipt of the Bunker by the Vessel. 6.3 If buyer cancels or fails to take, in whole or in part, the delivery of Marine Fuels as specified in the Nomination and/or Confirmation Agreement, within the agreed delivery period for whatsoever reason other than a Force Majeure event, Buyer shall pay Seller a cancellation fee equal to the greater of of (a) US $ 5 2,000 (Five Two Thousand United State Dollars) per metric tonnes and/or amount equivalent to currency of transaction mentioned in Nomination and/or Confirmation Agreement, as liquidated damages, and damages and (b) all losses and liabilities incurred by Sellers as a result of such cancellation or failure to take full delivery, including without limitation (i) the difference in price as per the Confirmation and Seller’s reasonable estimate of market price for the delivery port as per the customary market marker on the date of such cancellation or failure to take full delivery, (ii) losses, costs and damages associated with terminating, liquidating, obtaining or re-establishing any hedging arrangement or related trading position, (iii) costs to sell, (iv) storage (v) pump back fees (vi) port dues (v) and/or any other expenses associated in relation with cancellation.

Delivery and Cancellation. 6.1 6.1. Delivery shall be deemed completed by the Seller to the Buyer at the permanent intake connection of Buyer’s Vessel, whether product is delivered ex-wharf or by fuel barge. At either location, however, pumping shall be performed under the direction of Buyer or Buyer’s Vessel personnel. If full payment of any amount due to the Seller has not been made by the Buyer, the Seller has the right to attach or assert a maritime lien or claim against the vessel and/or sister ship and/or any other asset of the Buyer (or the owner of the vessel) whereby situated in the world without prior notice. 6.2 6.2. Buyer shall be responsible for connection of the loading hose to the intake of the Vessel from the Delivery vessel and shall monitor and direct safe receipt of the Bunker by the Vessel. 6.3 6.3. If buyer cancels or fails to take, in whole or in part, the delivery of Marine Fuels as specified in the Nomination and/or Confirmation Agreement, within the agreed delivery period for whatsoever reason other than a Force Majeure event, Buyer shall pay Seller a cancellation fee equal to the greater of of (a) US $ 5 3,000 (Five Three Thousand United State Dollars). If buyer cancels or fails to take, in whole or in part, the delivery of Marine Fuels as specified in the Nomination and/or Confirmation Agreement, within the agreed delivery period for whatsoever reason other than a Force Majeure event, Buyer shall pay Seller (over and above the cancellation fee of US $ 3000) per metric tonnes and/or an amount equivalent to currency of transaction mentioned in Nomination and/or Confirmation Agreement, as liquidated damages, and (b) damages and shall include all losses and liabilities incurred by Sellers as a result of such cancellation or failure to take full delivery, including without limitation (i) the difference in price as per the Confirmation and Seller’s reasonable estimate of market price for the delivery port as per the customary market marker on the date of such cancellation or failure to take full delivery, (ii) losses, costs and damages associated with terminating, liquidating, obtaining or re-establishing any hedging arrangement or related trading position, (iii) costs to sell, (iv) storage storage, (v) pump back fees fees, (vi) port dues (v) and/or any other expenses associated in relation with cancellation.dues,

Delivery and Cancellation. 6.1 Delivery shall be deemed completed by the Seller to the Buyer at the permanent intake connection of Buyer’s Vessel, whether product is delivered ex-wharf or by fuel bargebarge or by tank-trucks. At either location, however, pumping shall be performed under the direction of Buyer or Buyer’s Vessel personnel. If full payment of any amount due to the Seller has not been made by the Buyer, the Seller has the right to attach or assert a maritime lien or claim against the vessel and/or sister ship and/or any other asset of the Buyer (or the owner of the vessel) whereby situated in the world without prior notice. 6.2 Buyer shall be responsible for connection of the loading hose to the intake of the Vessel from the Delivery vessel and shall monitor and direct safe receipt of the Bunker by the Vessel. 6.3 If buyer cancels or fails to take, in whole or in part, the delivery of Marine Fuels as specified in the Nomination and/or Confirmation Agreement, within the agreed delivery period for whatsoever reason other than a Force Majeure event, Buyer shall pay Seller a cancellation fee equal to the greater of of (a) US $ 5 5.00 (Five United State Dollars) per metric tonnes and/or amount equivalent to currency of transaction mentioned in Nomination and/or Confirmation Agreement, as liquidated damages, and damages and (b) all losses and liabilities incurred by Sellers as a result of such cancellation or failure to take full delivery, including without limitation (i) the difference in price as per the Confirmation and Seller’s reasonable estimate of market price for the delivery port as per the customary market marker on the date of such cancellation or failure to take full delivery, (ii) losses, costs and damages associated with terminating, liquidating, obtaining or re-establishing any hedging arrangement or related trading position, (iii) costs to sell, (iv) storage (v) pump back fees (vi) port dues (v) and/or any other expenses associated in relation with cancellation.