Common use of Disposition of Surplus Consumable Stores Clause in Contracts

Disposition of Surplus Consumable Stores. Any fuel oil, lubrication oil, in drums/tanks or other unbroached greases or system lines (i.e. framo system lines, ect.) and consumable stores furnished and paid for by the Builder for trial runs remaining on board the Vessel at the time of acceptance of the Vessel by the Buyer shall be bought by the Buyer from the Builder at the Builder’s actual invoice price for such supply in Korea and payment by the Buyer thereof shall be made at the time of delivery of the Vessel. The Buyers and Builders representatives shall jointly measure and agree quantities of lubricating, hydraulic and fuel oils remaining in storage tanks and unbroached drums or system lines (i.e. framo system lines, etc.). The Builder shall pay the Buyer at the time of delivery of the Vessel an amount for the consumed quantity during trial run of any lubricating oil and greases which were furnished and paid for by the Buyer at the Buyer’s purchase price thereof. In measuring the consumed quantity, lubricating oils and greases remaining in the main engine, other machinery and xxxxx tube, shall be excluded. (End of Article)