Terms and Conditions

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1. Delivery Terms: The terms of delivery for the petroleum products must be agreed upon by both parties. The delivery location, date, and mode of transportation must be specified in the agreement.
2. Payment Terms: The payment terms must be agreed upon by both parties. This includes the payment method, payment due date, and any penalties for late payment.
3. Price Terms: The price of petroleum products must be specified in the agreement. This includes the price per unit, any discounts, and any applicable taxes or fees.
4. Quality Assurance: The petroleum company must ensure that the products supplied meet the quality standards agreed upon by both parties. Any defects or discrepancies must be promptly reported to the petroleum company.
5. Liability: The petroleum company must assume liability for any damages or losses that occur during the transportation or delivery of the products. The extent of liability and any limitations must be specified in the agreement.
6. Intellectual Property: Any intellectual property used in the production, packaging, or marketing of the petroleum products must be owned by the petroleum company or licensed by the appropriate third party.
7. Termination: Either party may terminate the agreement upon written notice to the other party. The terms and conditions for termination, including any penalties or obligations, must be specified in the agreement.