BUYERS MANDATE - Petroleum Contract

 

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I/We ________________________________________________  (“the Buyer”) Close Corporation Registration#_________________________________  Domiciled _________________________________________  Duly Authorize / Grant ____ SEANTECH SEANTECH MINING & INDUSTRIAL SUPPLIES  ______ (“the Agent) Close Corporation Registration#_________________________________  Domiciled _______________________________________________________ 

The authority and the right to buy and negotiate the procurement of bulk  PETROLEUM  PETROLEUM PRODUCTS   (“the product ”)   from third parties on behalf of the Buyer On the following terms and conditions: 1. The 1. The mandate hereby granted shall be: 1.1 An 1.1 An open mandate, that is, an authority aut hority to source the PERTROLEUM not li limited mited to one agent, where commission is payable to the agent whose buyer’s offer is accepted.; or 1.2 A sole mandate, that is, a mandate appointing 1.2 A appointin g only one agent but not precluding the Buyer from personally sourcing the PETROLEUM; or 1.3 A 1.3 A sole and exclusive mandate, that is, a mandate precluding all others except the agent from sourcing the PETROLEUM;

But shall not constitute a Power-of-Attorney (NB: Please note that the appropriate mandates have been ticked.)

 

2. The  The purchase price shall be advised by the agent. 2.

3. The period of the mandate shall commence on the date of signature hereof and shall 3. The terminate at 17h00 on the .

4. The PETROLUEM shall be purchased   ‘voetstoots’  subject 4. The  subject to all specifications approved and agreed  between Buyer and prospective Seller or seller’s agent 5.   Supply and delivery of the PETROLEUM shall be effected upon the receipt of the agreed Purchase price by the Seller.

 

6.   The Buyer undertakes to accept an offer submitted by the agent from from an able and willing Seller, should should such an offer comply substantially substantially herewith. herewith.

7.

Oblig Obl igat atio ions ns of the Age Agent nt:: 7.1   The agent acknowledges that s/he acts for and on behalf of the Buyer. 7.2   The agents shall shall at all times keep confidential any any information furnished by the Buyer, which the Buyer requires to be withheld from prospective Sellers. 7.3   The agent shall forthwith submit submit to the Buyer all procurement offers for the PETROLUEM. 7.4   The agent shall make available any technical information about the PETROLEUM that the Buyer has made available with specific specific regard to all relevant laboratory tests reports, and product samples samples of the PETROLEUM , and this is set set out in the Sales-Contract annexed annex ed hereto hereto marked marked “A.” 7.5   The agent shall after the conclusion of the agreement forthwith submit the agreement of sale to the Buyer and shall furnish the Buyer with a written progress report on the delivery procedure on a weekly basis. 7.6   Should the agent breach his/her obligations in respect of the mandate, then in such event the Buyer shall be entitled to revoke this mandate upon 7 (seven) days written notice delivered to the agent, a gent, requesting rectification of the breach, and the agent ’s failure to rectify such breach. 7.7   The agent shall make good any damages incurred by the Buyer whilst the Buyer’s property was under the custodianship of the agent.

8. General Liability Exclusion. Exclusion. 8.1   The agent shall not be held liable, where he acts in the course and scope of his/ her mandate, and the Buyer suffers damages as result result of the sale of the PETROLEUM , such liability liability will rest with Buyer unless unless otherwise otherwise specifical specifically ly excluded excluded in the master purchase and sale agreement between Buyer and Seller.

signed at

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BUYER

_ AGENT