AGO SPA CHRIS
SALES AND PURCHASE CONTRACT AGREEMENT FOR AUTOMOTIVE GAS OIL
This Sales and Purchasing Agreement is made this 29th January 2015
Between
JOBAR ENERGY RESOURCE LTD / TOLFEM INVESTMENTS LIMITED
(THE SELLER)
And
(THE BUYER)
Recitals
The Seller, with Full Legal and Corporate Responsibility agrees to sell to the Buyer the herein specified AUTOMOTIVE GAS OIL (AGO) in the quantity and quality as agreed.
The Buyer, with Full Legal and Corporate Responsibility, agrees and irrevocably commits to purchase the said AUTOMOTIVE GAS OIL (AGO) in the quantity and quality herein stipulated.
The Parties mutually desire to execute this Agreement which shall be binding upon and inure to the benefit of each Party, their successors and assigns in accordance with the jurisdictional law of the negotiated and fully executed Agreement, with terms and provisions hereunder agreed upon.
Whereas, the parties mutually accept to refer to the General Terms and Definitions, having the following terminology fully understood and accepted:
Definitions
Except where the context otherwise indicates, the following terms shall have the meaning as described to them as follows.
1. ORIGIN RUSSIA
2. DELIVERY TERMS
SHIPMENT SIZE: MIN 100,000MT
3. EXECUTION DATE
THE DATE ON WHICH THE SELLER AND THE BUYER RECEIVE THEIR RESPECTIVE FAXED COPIES OF THIS AGREEMENT, OR AS IT MAY BE.
4. METRIC TON
SHALL MEAN UNIT OF WEIGHT EQUAL TO ONE THOUSAND ONE HUNDRED AND SIXTY FOUR (1164) LITRES AND ONE (1) METRIC TON OF AUTOMOTIVE GAS OIL (AGO)
5. QUANTITY
100,000MT
6. QUALITY
NNPC STANDARD SPECIFICATION
7. PRICE
N 96 less N5
8. PAYMENT
PAYMENT SHALL BE VIA E TRANSFER.
9. GOVERNING LAWS
THIS CONTRACT SHALL BE COVERED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE FEDERAL REPUBLIC OF NIGERIA (WITHOUT REFERENCE TO ANY CONFLICT OF LAWS RULES)
10. DISPUTE RESOLUTION
ANY DISPUTE, CONTROVERSY OF CLAIM ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT,
This Sales and Purchasing Agreement is made this 29th January 2015
Between
JOBAR ENERGY RESOURCE LTD / TOLFEM INVESTMENTS LIMITED
(THE SELLER)
And
(THE BUYER)
Recitals
The Seller, with Full Legal and Corporate Responsibility agrees to sell to the Buyer the herein specified AUTOMOTIVE GAS OIL (AGO) in the quantity and quality as agreed.
The Buyer, with Full Legal and Corporate Responsibility, agrees and irrevocably commits to purchase the said AUTOMOTIVE GAS OIL (AGO) in the quantity and quality herein stipulated.
The Parties mutually desire to execute this Agreement which shall be binding upon and inure to the benefit of each Party, their successors and assigns in accordance with the jurisdictional law of the negotiated and fully executed Agreement, with terms and provisions hereunder agreed upon.
Whereas, the parties mutually accept to refer to the General Terms and Definitions, having the following terminology fully understood and accepted:
Definitions
Except where the context otherwise indicates, the following terms shall have the meaning as described to them as follows.
1. ORIGIN RUSSIA
2. DELIVERY TERMS
SHIPMENT SIZE: MIN 100,000MT
3. EXECUTION DATE
THE DATE ON WHICH THE SELLER AND THE BUYER RECEIVE THEIR RESPECTIVE FAXED COPIES OF THIS AGREEMENT, OR AS IT MAY BE.
4. METRIC TON
SHALL MEAN UNIT OF WEIGHT EQUAL TO ONE THOUSAND ONE HUNDRED AND SIXTY FOUR (1164) LITRES AND ONE (1) METRIC TON OF AUTOMOTIVE GAS OIL (AGO)
5. QUANTITY
100,000MT
6. QUALITY
NNPC STANDARD SPECIFICATION
7. PRICE
N 96 less N5
8. PAYMENT
PAYMENT SHALL BE VIA E TRANSFER.
9. GOVERNING LAWS
THIS CONTRACT SHALL BE COVERED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE FEDERAL REPUBLIC OF NIGERIA (WITHOUT REFERENCE TO ANY CONFLICT OF LAWS RULES)
10. DISPUTE RESOLUTION
ANY DISPUTE, CONTROVERSY OF CLAIM ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT,