VI. MANDATORY CONDITIONS OF RUNNING OF COMPETITIVE BIDDING
1. Bids to participate in the competitive biddings will be accepted from the residents of Ukraine only.
2. Only the clients who have sent a bid will be allowed to bid.
3. The minimal lot will be 250 (two hundred and fifty) metric tonnes.
4. Any bidder shall obligatorily confirm its participation in each round.
5. Any buyer will have the right to decrease the number of lots declared for different rounds.
6. The period of 100% prepayment for the purchased crude oil may not exceed 3 (three) banking days including the bidding day.
7. The feedback with the bidders will be maintained by email only.
8. The nominal amount of shipment of crude purchased at the bidding will be 1,000 (one thousand) metric tonnes/day.
9. The shipping schedule will depend on the sequence of receipt of monies from bidders: he who pays first will be the first in the queue to ship.
10. The Contract shall be signed in the form of facsimile or its scanned form shall be sent by email on the day of competitive bidding. If this provision is not observed, the enterprise should be deemed as have given up the forthcoming competitive bidding.
11. The contractual relationship will be terminated in the events as follows:
- Overdue / incomplete payment;
- Late / incomplete submission of shipment requisites;
- Overdue / incomplete payment of forwarding charges.
12. No-bid decision shall be sent by email.
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