Kurdistan oil Properties
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Kurdistan oil Properties

Kurdistan oil Properties

DRAFT CONTRACT
This Agreement made on this , by and between: Seller : Address : Email : Tel. No. : Mobile : Hereinafter referred to as “SELLER» AND Buyer : Address : Email : Tel. No : Mobile : Hereinafter referred to as “BUYER» Hereinafter together shall be referred to as «Parties» or «Party

SCOPE OF THE CONTRACT

1-CONTRACT NO :
2-CONTRACT DATE:
3-SELLER CODE :
4-BUYER CODE :

QUANTITY

The total contractual quantity of the commodity sold and purchased under this Agreement is from initial lifting quantity of 100,000 MT per month with a variation of +/- 10% (plus or minus TEN Percent) at Seller’s option.

NOTE
ANY CHANGE IN THE CARGO SIZE OUTSIDE OF THE ABOVE RANGE IS SUBJECT TO SELLER’S PRIOR APPORVAL
QUALITY
For the full duration of The Agreement, the SELLER guarantees that the quality of the product will conform to the guaranteed specifications as reported on «Annex A» which constitutes an integral part of this Agreement.

DELIVERY TYPE
CIF Ceyhan Port.
TITLE AND RISK
DELIVERY SHALL BE DEEMED COMPLETED AND TITLE SHALL PASS AT CEYHAN PORT AS PRODECTED PASSES THE FLINGES CONECTING SELLER’S PIPLINE OR DELIVERY HOSE WITH VESSEL’S MANIFOLD AT WHICH POINT SELLER’S RESPONSIBILITY SHALL CEASE AND BUYER SHALL ASSUME ALL RISKS OF LOSS .DAMAGE DETERIORATION OR SHRINKAGE TO PRODECT SO DELIVERED.
DELIVERY:
CIF CEYHAN PORT BY TANKER, WITHIN 15-20 DAYS FROM BUYERS BANK OPEN THE BANK INSTRUMENT TO SELLER’S BANK ( IRREVOCABLE, REVOLVING, DISVISABL AND TRANSFERABLE LETTER OF CREDIT).
PRICE:
FIXED PRICE OF USD$ 720 PER MT DELIVERED TO CEYHAN PORT.
PAYMENT:
BY AN IRREVOCABLE, REVOLVING, DISVISABL AND TRANSFERABLE LETTER OF CREDIT TO BE ISSUED IN FAVOR OF SELLER IN A FORMAT AND A BANK ACCEPTABLE TO SELLER FOR 110 PERCENT OF THE VALUE OF THE FIRST SHIPMENT OF THE
PRODUCT AFTER SIGNING THE CONTRACT.
FORCE MAJURE:

ANY FAILUR BY A PARTY TO COMPLY WITH THE TERMS OF THIS CONTRACT WHICH IS ATTRIBUTABLE SOLELY TO FORCE MAJURE SHALL NOT BE REGARDED AS FAILURES TO PERFORM ITS OBLIGATIONS. FOR THE PURPOSE OF THIS ARTICLE, FORCE MAJURE SHALL MEAN EVENT BEYOND THE REASONABLE CONTROL OF A PARTY AND SHALL INCLUDE, BUT NOT LIMITED TO ACTS OF GOD, ACTS OF GOVERNMENTS, PARLIAMENTS, WARS, CIVICL COMMOTION, STRIKE, STORM, TIDAL WAIVE, FLOOD, EPİDEMY EXPLOSION, FIRE, LIGHTING AND EARTHQUAKE.

COFIDENTIALITY:
ALL THE TERMS AND CONDITIONS OF THIS DEAL TO BE KEPT STRICTLY PRIVATE AND CONFIDENTIAL.

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