banking principle definition
banking principle means the principle in terms of which the guest is required to maintain a positive balance of its petroleum products at the depot at all times. The guest will own the product and will be entitled to draw from such product as and when required. The principle applies at the depot where the replenishment was made and shall not be offset against entitlements at any other locations or netting off to base port (i.e. the port from which the product was first dispatched);