GENERAL TERMS AND CONDITIONS FOR BUNKER SUPPLY AND DELIVERY
 
1. The Parties and Definitions:
  The Seller: The term Seller provided in the General Terms and Conditions refers Arkas Petrol Ürünleri ve Ticaret Anonim Şirketi.
 
  The Buyer: The term Buyer provided in the General Terms and Conditions refers real or legal persons which require the bunker supply, bunker sale or bunker delivery from the Seller.
 
  The Bunker: The term bunker refers all kinds of product that is sold and/or supplied and/or delivered to the Buyer by the Seller.
     
2. The Agreement Between The Parties:
The Agreement between the Parties is the Agreement concluded by way of exchanging fax, telex, electronic mail, telephone, registered and reply-paid letter in writing or verbally and containing the quantity, quality, price of the bunker supplied/delivered/sold and the vessel to which the bunker is supplied/delivered/sold, the eta/etd of the vessel, the place of delivery, the terms of payment.
3. Nomination and Notices:
The nomination shall bear the name of the vessel, the date and the place of the supply, the quantity and the degree of the bunker and the details in respect of the ship's agent. The Seller shall supply or deliver or sell the bunker which meets the specifications, quantity and price specified in the nomination. Should the vessel not arrive at the port of supply despite the notice of arrival of the ship has been given to the Seller and consequently the Seller incurs management costs due to the canceling of the supply; the Buyer shall pay the Seller the expenses and damages, which are mutually agreed, arising from the cancellation.
4. Quality:
The bunker to be supplied by the Seller shall comply with the ISO standards.
5. Sample:
The specifications of the bunker shall be presented to the Buyer on his demand in conformity with the nomination. The physical supplier shall receive one sample from the bunker and the Buyer shall receive a sealed sample. Should a dispute arise between the parties concerning the quality of the bunker, the samples at the physical supplier and the Buyer shall be sent to an independent analysis laboratory designated mutually by the parties. The costs and fees of the analysis shall be covered by the Buyer. Should the parties be unable to mutually agree on an independent analysis laboratory, the Seller shall ensure the analysis of the samples by appointing a world-wide known eminent analysis laboratory residing at the delivery place of the bunker. The analysis result of the laboratory shall be binding for both parties.
6. Noticer:
The complaints and the claims regarding the quality of the bunker shall be notified to the Seller by the Buyer latest within 72 hours as of the delivery of the bunker. Otherwise, the Buyer shall be deemed to have waived his any and all rights of complaint, claim and action in respect of the quality of the bunker. This notification period is one of the essential terms of this agreement.
7.The Limitation of Liability:

The liability of the Seller towards the Buyer and/or third persons concerning the bunker shall by no means exceed the bunker price. The Seller shall have no liability for indirect and consequential losses.

The Buyer undertakes to hold the Seller harmless in respect of any actions and claims of third persons.
8. The Payment:
The payment of the bunker supplied shall be effected without any discount within the period designated in the nomination as of the date of delivery. The Buyer is not entitled without the Seller's written approval by way of relying on any alleged claim or complaint to make any deductions from the Bunker price. The credit of the Seller shall become due and payable when the credit arising from the supply is not paid on the due date and the Buyer shall pay 2% monthly interest thereon. Should the Seller commence legal proceedings for the unpaid bunker price, the Buyer shall pay all expenses incurred by the Seller including but not limited to the attorney fees.
9. Delivery and Measurement:

The delivery of the bunker shall be performed by the barges berthing the vessel and through the pipes or in accordance with the regulations and the rules which are in force at the port of supply. The crew shall submit to the Seller a Supply Delivery Receipt containing the ship's stamp and the signature of the master or the chief engineer.

The measurement of the bunker quantity shall be made by the Seller before the supply when the bunker is in the bunker barge. The Buyer may assign an independent company for the measurement of the bunker, if he wishes. Should there be an inconsistency between the two measurements, the measurement made by the Seller shall prevail. The Buyer's claim and notice on short delivery after the delivery of the bunker shall not be valid and acceptable.

10. Transfer of Risk:
All risks and liabilities concerning the bunker pass on the Buyer simultaneously as of the bunker reaches into the pipe or hose of the bunker barge or the terminal delivering the bunker. The ownership of the bunker shall remain with the Seller until the bunker price is fully paid, even where the bunker is delivered to the vessel to which the bunker shall be supplied.
11. Liens:
The Seller shall have the statutory lien on the vessel, to which the bunker is supplied, for the unpaid bunker price. The Seller has the alternative rights of collecting the price of the bunker by pursuing his legal rights and/or requesting the return of the bunker, the price of which has not been paid and consequently the ownership of which has not passed on the Buyer. Should the Buyer be not the owner of the vessel to which the bunker is supplied, it shall be accepted that the Buyer has the right and authority to request the bunker supply for and on behalf of the Owner and that the Buyer has notified this clause to the ship-owner.
12. Right of Cancellation:

The Buyer hereby in advance acknowledges and accepts that the Buyer shall not raise any claim towards the Seller due to the cancellation of this Agreement by the Seller for any reasons on the part of the supplier of the Seller.

The Buyer likewise acknowledges and accepts to compensate the Seller all kinds of losses, damages and expenses including indirect and consequential losses should the Buyer refrain from purchasing and taking the delivery of the bunker after ordering it.
13. Force Majeure:
The Seller shall not have any liability due to any circumstances which may be construed as Force Majeure including the cases where the bunker is not delivered due to the reasons deriving from the Seller's supplier.
14.Jurisdiction:
In case of a dispute between the parties concerning this bunker sale/supply agreement, Istanbul (Levent) Courts and Enforcement Offices shall be exclusively competent.