Common use of Disposition of Surplus Consumable Stores Clause in Contracts

Disposition of Surplus Consumable Stores. Any fuel oil or other furnished and paid for by the BUILDER for trial runs remaining on board the VESSEL, at the time of acceptance of the VESSEL by the BUYER, shall be bought by the BUYER from the BUILDER at the BUILDER’s purchase price for such supply in Korea and the payment by the BUYER thereof shall be made at the time of delivery of the VESSEL. The BUILDER shall pay the BUYER at the time of delivery of the VESSEL an amount for the consumed quantity until delivery of any lubricating oil and greases which were furnished and paid for by the BUYER at the BUYER’s purchase price thereof. For avoidance of doubt, the practice of this Article VI. 6 shall follow the practice in construction of the BUILDER’s Hull Nos. 1639 and 1640. (End of Article)

Disposition of Surplus Consumable Stores. Any fuel oil or other furnished and paid for by the BUILDER for trial runs remaining on board the VESSEL, at the time of acceptance of the VESSEL by the BUYER, shall be bought by the BUYER from the BUILDER at the BUILDER’s purchase price for such supply in Korea and the payment by the BUYER thereof shall be made at the time of delivery of the VESSEL. The BUILDER shall pay the BUYER at the time of delivery of the VESSEL an amount for the consumed quantity until delivery of any lubricating oil and greases which were furnished and paid for by the BUYER at the BUYER’s purchase price thereof. For avoidance of doubt, the practice of this Article VI. 6 shall follow the practice in construction of the BUILDER’s Hull Nos. 1639 and 1640. (End of Article)) 28