Commercial Services Actions Sample Clauses
The 'Commercial Services Actions' clause defines the rights and procedures related to actions taken in connection with the provision of commercial services under the agreement. Typically, this clause outlines what steps a party may take if there are issues with the delivery, quality, or performance of commercial services, such as requesting corrective action, withholding payment, or seeking remedies. For example, if a service provider fails to meet agreed service levels, the client may be entitled to require remediation or compensation. The core function of this clause is to establish clear protocols for addressing service-related problems, thereby protecting both parties' interests and ensuring accountability in the delivery of commercial services.
Commercial Services Actions. Buyer:
(i) shall maintain an organizational structure to support and interface with Seller in the conduct of this Agreement;
(ii) may maintain such market knowledge as it sees fit independently of Seller, but will refrain from seeking bids / offers / indications or otherwise contracting in the market directly or via intermediates for any of the Commercial Services covered under this Agreement except if compelled to do so due to the gross negligence or willful misconduct of Seller;
(iii) acknowledges and accepts that Seller will only contract with third party companies which have been compliance cleared by Seller, with such clearance not to be unreasonably withheld;
(iv) acknowledges that Seller cannot be obliged to use contractors or service providers which do not meet Seller’s HSE requirements.
Commercial Services Actions. Seller:
(i) shall perform its duties in both a reasonable and prudent manner;
(ii) shall act as a principal in the market in front of third parties for purchases and sales of Oil and Feedstock under this Agreement;
(iii) shall be the only face to market for the execution of all Commercial Services;
(iv) shall use reasonable efforts to secure optimal pricing of the Oil and Feedstock purchased or sold under this Agreement and to minimize delivery-related costs for Oil and Feedstock purchased under the Execution Method;
(v) shall allocate the necessary resources to support and to interface with Buyer in the provision of the Commercial Services hereunder;
(vi) may enter into commercial commitments with third parties in connection with the performance of the Commercial Services, with all commercial terms being agreed to at its reasonable sole discretion, in line with Buyer’s mandate;
(vii) may conduct any re-sale of any Oil and Feedstock purchased as part of this Agreement in line with its credit control procedures in effect at the time of such disposal. The costs of a third party credit default under such re-sale of Oil and Feedstock shall be for Buyer’s account unless caused by the gross negligence or willful misconduct of Seller.