Terms and conditions
 
Arrest Of The Vessel-Liens
  • Where the Products are supplied to a Vessel, in addition to any other security, these Terms and Conditions are entered into and the Products are supplied upon the faith and credit of the Vessel.The Seller will have, and may assert a lien against the Vessel and her bunkers, freight, hire, insurance payments and against all assets, vessels and bunkers in the same ownership, management or control for all sums due including compound interest and legal cost,expenses in connection with the Agreement. It is expressly agreed between Seller and Buyer that the delivery of Marine Bunker/products creates a maritime lien in accordance with article 46 U.S. Code § 31342 of the United States Federal Maritime Lien Act.

    Med Petroleum shall have a maritime lien on the Vessel by its IMO number for bunker invoice amount and contractual compound interest and legal cost and expenses.

    All sales made under these terms and conditions are made to the registered owner of the vessel, in addition to any other parties that may be listed as Buyer in the confirmation. Any bunkers ordered by an agent, management company,charterer, broker or any other party are ordered on behalf of the registered owner and the registered owner is liable as a principal for payment of the bunker invoice,compound contractual interest,penalty and legal cost.

    The Buyer agrees and warrants that Med petroleum may take any legal action against the Vessel and any other vessels or asset beneficially owned or controlled by the Buyer, for the amount due for the Marine Bunker/products and the delivery.
  • The Buyer agrees and warrants that a lien over the Vessel is thereby created for the Price of the Products supplied and that Med Petroleum in agreeing to deliver the Products to the Vessel does so relying upon the faith and credit of the Vessel.
  • The Buyer, if not the owner of the Vessel, hereby expressly warrants that he has authority of the owner to pledge the Vessel’s credit as aforesaid and that he has given notice of the provisions of this Clause to the owner.
  • Med Petroleum shall not be bound by any attempt by any person or entity to restrict, limit or prohibit its lien or liens attaching to a Vessel unless notice in writing of the same is given to Med Petroleum before it sends its Confirmation to the Buyer.
  • Any notice or any stamp in the bunker delivery receipt or similar cannot waive Med Petroleum’s maritime lien on the Vessel.
  • Med Petroleum has right to arrest vessel in any convenient jurisdiction by enforcing maritime lien under the United States Federal Maritime Lien Act (46 U.S.C. §§ 31341-31343) in order to obtain security.
< Previous Next >