Common use of Value of Material Charged to the Accounts Under the Agreement Clause in Contracts

Value of Material Charged to the Accounts Under the Agreement. (a) Except as otherwise provided in (b) below, material purchased by the Contractor for use in Petroleum Operations shall be valued to include invoice price less trade and cash discounts (if any), purchase and procurement fees plus freight and forwarding charges between point of supply and point of shipment, freight to port of destination, insurance, taxes, custom duties consular fees, other items chargeable against imported material and, where applicable, handing and transportation expenses from point of importation to warehouse or operating site, and its costs shall not exceed those currently prevailing in normal arms length transactions on the open market.

Value of Material Charged to the Accounts Under the Agreement. (a) Except as otherwise provided in subparagraph (b) below, below material purchased by the Contractor for use in the Petroleum Operations shall be valued to include the invoice price less trade and cash discounts discount (if any), purchase and procurement fees plus freight and forwarding charges between point of supply and point of shipment, freight to port of destination, insurance, taxes, custom duties customs duties, consular fees, other items chargeable against imported material and, and where applicable, handing practicable handling and transportation expenses from point of importation to warehouse or operating site, and its costs shall should not exceed those currently prevailing in normal arms arms-length transactions on the open market.;