General Terms & Conditions

1. Scope & Application

1.1 These General Terms & Conditions of Sale (“GTCS”) apply to all sales and deliveries of marine fuels, including traditional petroleum products, biofuels, methanol, LNG, and any other alternative marine fuels (“Products”) supplied by the Seller to any buyer (“Buyer”), unless otherwise agreed in writing.

1.2 In case of conflict, the written confirmation and these GTCS prevail over Buyer’s terms.

2. Definitions

Seller: Aqua Marine Trading, S.L. registered in Alicante, Spain

& Marine Trading FZCO registered in Dubai, U.A.E.

Buyer: The vessel supplied, her owners, managers, operators, charterers, disponent owners, and any party requesting supply on behalf of the receiving vessel.

• Vessel: The vessel nominated to receive the Products.

• Delivery Port: The port or location where Products are delivered.

3. Product Specifications

3.1 Petroleum-based fuels shall comply with ISO 8217 (latest edition) unless otherwise stated.

3.2 Biofuels shall be delivered in accordance with the specification stated in the Seller’s confirmation, including FAME content limits, stability requirements, and blend tolerance.

3.3 Methanol deliveries shall follow the applicable marine fuel methanol specification, with explicit acknowledgment by Buyer of its low flashpoint and handling requirements.

3.4 LNG shall meet the quality specification stated in the confirmation, including methane number, Wobbe index, and custody-transfer methodology.

3.5 Buyer accepts all inherent characteristics of alternative fuels, including:

• susceptibility of biofuels to contamination, oxidation, and microbial growth;

• specific storage and segregation requirements for methanol;

• cryogenic storage & boil-o; considerations for LNG.

4. Quantity & Measurement

4.1 Quantity is determined by the physical supplier’s measurements, using standard industry methods applicable to each fuel type. For ex-pipe shore deliveries and truck deliveries, the quantity will be determined by loading ticket, flowmeter, customs loading document or delivery note issued by loading depot. For barge deliveries, the final quantity will be determined by Mass flow meter and in the event lack thereof, the delivery barge tank sounding measurements and/or customs loading & delivery documents.

4.2 For LNG deliveries, custody transfer shall be based on mass, using calibrated flow meters or tank gauging systems.

4.3 Seller’s figures are binding unless Buyer proves manifest error.

5. Delivery

5.1 Delivery dates and times are approximate. Seller is not liable for delays outside its reasonable control nor due to force majeure.

5.2 Buyer must ensure the Vessel is safely afloat, accessible, and prepared to receive the Products.

5.3 For biofuels, methanol, and LNG, Buyer must ensure the Vessel has suitable equipment, tanks, and personnel trained to handle the specific fuel type ordered.

5.4 Seller may suspend or refuse delivery if Buyer or the Vessel poses operational, environmental, or safety risks.

6. Title & Risk

6.1 Title transfers upon full payment of all sums due including interest if incurred.

6.2 Risk transfers upon delivery of the Products at the Vessel’s bunker manifold or designated custody transfer point (for LNG).

6.3 Products remain subject to a maritime lien wherever permitted by local law.

7. Price & Payment

7.1 Price is as stated in the Seller’s written confirmation.

7.2 Payment is due in full, without deduction, set-o;, or counterclaim, within the period specified in the confirmation.

7.3 Late payments accrue interest at the highest rate permitted under Spanish law or 4% per month, whichever is higher. expressly included.

7.4 Currency fluctuations, taxes, duties, barging fees, or port charges are for Buyer’s account unless expressly included.

8. Claims

8.1 Any quantity claim must be notified immediately at delivery and confirmed in writing within 7 days.

8.2 Quality claims must be notified within 14 days of delivery. Samples drawn during delivery by the physical supplier and as stated on the BDN “Bunker Delivery note” shall be the sole final and binding evidence. 8.3 Seller is not responsible for: • incompatibility with fuels onboard the Vessel; • operational issues arising from biofuel stability, methanol handling, or LNG temperature management; delays, loss of hire, or consequential damages.

8.4 Total liability shall not exceed the invoice value of the affected Product.

8.5 The Buyer shall be liable for, and shall indemnify the Seller against, all legal fees, costs, expenses and disbursements (including, without limitation, legal, court, collection and enforcement costs) incurred by the Seller in recovering any overdue or outstanding amounts owed by the Buyer.

All such fees, costs and expenses shall be recoverable from the Buyer and shall be added to, and form part of, the principal amount due, together with any applicable interest and other charges permitted under these Terms and Conditions or by law.

9. Compliance & Sanctions

9.1 Buyer warrants that neither the Buyer, the Vessel, her owners, operators, managers, charterers, nor any party involved in the trade is: • listed on any EU, UK, US (OFAC), UN, or Spanish sanctions list; • owned or controlled (≥50%) by a sanctioned entity or individual; • engaged in trades prohibited by applicable sanctions regulations.

9.2 Buyer must disclose full ownership and control structure upon request should same be required for due diligence with local physical suppliers and to prevent any cancellation or anullment of any particular bunker delivery.

9.3 Seller may cancel, suspend, or refuse delivery if sanctions risk is identified, without liability.

9.4 Buyer shall indemnify Seller for any loss, fine, penalty, or cost resulting from a breach of sanctions compliance.

10. Health, Safety & Environmental Regulations

10.1 Buyer is responsible for safe reception, storage, and handling of all fuels, including low-flashpoint fuels like methanol and cryogenic fuels such as LNG.

10.2 Buyer shall comply with MARPOL, SOLAS, ISGOTT, IGF Code, and all applicable local regulations.

10.3 Seller may cease delivery if unsafe conditions arise.

11. Force Majeure

Seller is not liable for failure to perform where performance is prevented or delayed by events beyond its control, including but not limited to weather, port restrictions, strikes of port personnel, accidents, equipment breakdown, extreme weather conditions, supplier shortages, acts of war, sanctions changes, or conflicts.

12. Termination

Seller may terminate the contract immediately if:

• Buyer fails to pay on time;

• sanctions risks arise;

• Buyer becomes insolvent;

• delivery becomes unsafe or unlawful.

13. Governing Law & Jurisdiction

13.1 These GTCS and any sale under them are governed by the laws of Spain.

13.2 Disputes shall be finally resolved by arbitration in Madrid under the Madrid International Arbitration Centre (CIAM) rules, unless Seller elects court proceedings at Buyer’s place of business or the Vessel’s arrest jurisdiction.

14. Miscellaneous

14.1 No waiver or amendment is valid unless in writing and signed by Seller.

14.2 If any clause is invalid under applicable law, the remainder remains enforceable.

14.3 These GTCS form the entire agreement unless expressly superseded by contract.

Bunker Cancellation Terms & Conditions

1. Cancellation Window and Deadlines

• Any cancellation or rescheduling of a scheduled bunkering operation must be received in writing by the Seller no later than 72 hours prior to the agreed delivery window or the Vessel's Expected Time of Arrival (ETA).

• Any cancellation made after this deadline, or after the Seller has initiated logistical preparations, shall be deemed a "Last-Minute Cancellation."

2. Recovery of Costs and Logistical Fees

In the event of a Last-Minute Cancellation by the Customer or the Vessel, the Customer shall be fully liable for all incurred expenses. The Customer acknowledges that significant logistical efforts, operational positioning, and supply chain costs are committed ahead of time to meet specific delivery windows, weather conditions, and operational constraints (such as canal transits).

Accordingly, the Seller reserves all rights to recover from the Customer any and all direct or indirect costs resulting from the cancellation, including but not limited to:

• Trucking & Barging Costs: Dead freight, barge demurrage, standby fees, and mobilization/demobilization expenses.

• Supplier Claims: Penalties, restocking fees, or cancellation charges levied by physical suppliers or terminals.

• Hedging & Market Losses: Any losses arising from the resale of the oil/fuel or the unwinding of price-hedging mechanisms.

• Administrative Fees: A fixed cancellation fee of [$5.000,00] to cover administrative overhead.

3. Mitigation and Substitution Agreements

• If a cancellation occurs, any subsequent agreement by the Seller to supply the Vessel at an alternative port or date (e.g., to remedy prior cancellation costs) is strictly conditional upon the Customer providing a written guarantee to accept the product under the newly agreed prices, terms, and timeline.

• Failure to honor a substituted delivery agreement will result in the immediate compounding of all prior and current cancellation fees.

4. Payment and Indemnity

• All cancellation charges and accrued losses are due immediately upon receipt of the Seller’s invoice.

• The Customer agrees to fully indemnify and hold the Seller harmless against any third-party claims, port authority fines, or logistical penalties arising from the Vessel’s failure to take delivery.