Terms and Conditions

These Terms and Conditions (“Agreement”) govern your access to and use of the services provided by Tractatus Storage Oy . By using our services or website, you agree to be bound by the terms and conditions set forth in this Agreement.

1. Definitions

“Buyer”: Refers to the individual or entity purchasing products or services from Tractatus Storage Oy.
“Seller”: Refers to Tractatus Storage Oy.
“Products”: Refers to petroleum products such as crude oil, refined oil, base oils, and bitumen, as supplied by the Seller.
“Services”: Refers to logistics, storage, transportation, and any other services provided by the Seller.

2. Orders and Acceptance

2.1 All orders placed by the Buyer are subject to acceptance by the Seller. A legally binding contract will be formed only upon the Seller’s written confirmation of the order.
2.2 Any amendments or changes to orders must be agreed upon in writing by both parties.
2.3 The Seller reserves the right to refuse or cancel any order if the Buyer fails to meet the payment terms or violates this Agreement.

3. Pricing and Payment Terms

3.1 Prices: Prices quoted are CIF (Cost, Insurance, and Freight), FOB (Free on Board), or as otherwise indicated. Prices are subject to change due to market fluctuations. Final pricing is provided upon order confirmation.
3.2 Payment: Payments are to be made via Irrevocable Letter of Credit (LC), Telegraphic Transfer (T/T), or other agreed-upon methods. Payment terms are set in the invoice or sales contract.
3.3 Late Payments: Any overdue payments will accrue interest at a rate of 1.5% per month or the maximum legal rate, whichever is lower.

4. Delivery and Shipping

4.1 Delivery Terms: Delivery terms are specified in the sales contract (e.g., CIF, FOB, Tank-to-Tank (TTT), Tank-to-Vessel (TTV), or Title Take Over (TTO)).
4.2 Lead Time: The estimated delivery time will be communicated at the time of order confirmation. The Seller will not be responsible for delays caused by third-party logistics or unforeseen circumstances.
4.3 Transfer of Risk: Risk of loss or damage to the goods passes to the Buyer upon delivery as per the agreed INCOTERMS .

5. Product Inspection and Acceptance

5.1 Inspection: The Buyer is entitled to inspect the Products upon delivery. Any third-party inspection (e.g., by SGS or Bureau Veritas) must be arranged by the Buyer at the Buyer’s expense unless otherwise agreed.
5.2 Claims: Any claims regarding product quality, shortages, or damages must be reported to the Seller within 5 business days of delivery. Failure to do so will be considered an acceptance of the Products as delivered.

6. Storage Services

6.1 Storage: The Seller may provide storage facilities for petroleum products, subject to the terms agreed in the storage agreement.
6.2 Responsibility: The Seller will take reasonable steps to ensure the safe storage of the Buyer’s products. However, liability is limited to gross negligence or willful misconduct.
6.3 Storage Duration: Products stored in the Seller’s facility will be available for dispatch or further transport within the agreed storage period.

7. Title and Ownership

7.1 Title Transfer: Ownership of the Products will pass to the Buyer when the Products are paid for in full or as otherwise agreed (e.g., in TTO transactions).
7.2 Retention of Title: The Seller retains the right to retain title to the Products until full payment is received, regardless of delivery.

8. Limitation of Liability

8.1 No Liability for Delays: The Seller will not be held liable for delays or non-performance caused by circumstances beyond its control, including but not limited to natural disasters, strikes, transport interruptions, and regulatory changes.
8.2 Limitation: The Seller’s liability under this Agreement, whether for breach of contract, negligence, or any other reason, shall not exceed the total price of the Products or Services in question.

9. Insurance

9.1 Insurance: The Seller will provide insurance coverage up to the agreed CIF value for deliveries made under CIF terms. Additional insurance can be arranged at the Buyer’s request and expense.

10. Confidentiality

10.1 Confidentiality Obligation: Both parties agree to maintain the confidentiality of all proprietary information, including but not limited to prices, product specifications, and financial terms, unless required by law.

11. Termination

11.1 Termination by Seller: The Seller may terminate the Agreement if the Buyer fails to meet payment obligations or breaches any other terms of this Agreement.
11.2 Termination by Buyer: The Buyer may terminate the Agreement if the Seller fails to deliver the Products in accordance with the agreed terms and fails to remedy such failure within a reasonable time.

12. Dispute Resolution

12.1 Arbitration: Any disputes arising out of or in connection with this Agreement will be resolved by arbitration under the rules of the International Chamber of Commerce (ICC).
12.2 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, USA.

13. Miscellaneous

13.1 Amendments: Any amendments or modifications to this Agreement must be made in writing and signed by both parties.
13.2 Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, written or oral.
13.3 Severability: If any provision of this Agreement is found to be invalid or unenforceable, the remainder of the Agreement shall remain in full force and effect.

Contact Information:

For any queries regarding this Agreement, please contact us at:
Tractatus Storage Oy
Email: info@tractatusstorage.com
Phone (USA): +358449418012

By using our services or purchasing our products, you agree to these Terms and Conditions.

Thank you for choosing Tractatus Storage Oy!