FUEL SUPPLY AGREEMENT
This Fuel Supply Agreement (“Agreement”) is entered into by and between the TRAVELLER’S PETRON
SERVICENTER, with its principal office at G-033., Palanginan, Iba Zambales, Region 3 (the “Supplier”)
-and-
IBA BOTANICALS INC, with its principal office at Richville Corporate Tower Unit 804, 1107 Alabang
Zapote Road, Madrigal Business Park, Muntinlupa, Metro Manila 1781 Philippines (the “Purchaser”).
WITNESSETH
WHEREAS, the SELLER is engaged in the business of marketing and distribution of petroleum products
under the trademark “Petron”;
WHEREAS, the BUYER is in need of fuel for their operations;
WHEREAS, the SELLER has offered to supply both Automotive Diesel Oil, Gasoline and lubricant oil to
the BUYER, and BUYER has accepted the offer under the following terms and conditions:
1. USE OF PRODUCT: Purchases by BUYER from SELLER shall only be used for BUYER’S
operational requirements only and is not allowed to be resold.
2. VOLUME: BUYER is required to purchase at least 3,000 liters to 10,000 liter per annum of Diesel
or Gasoline and monthly volumes may vary depending on seasonality of operations. In the event that
the required purchase volume cannot be obtained, BUYER should notify SELLER with prior written
notice to be approved by SELLER.
3. DELIVERY AND ORDERING APPROVAL: Orders shall be delivered from the receipt of
Purchase Order from the BUYER to the SELLER. PO shall indicate the REQUISITIONER
NAME, CAR PLATE NO., ODOMETER READING (upon withdrawal), ITEM NUMBER,
ITEM DESCRIPTION, QUANTITY (in liters), UNIT PRICE AND TOTAL AMOUNT. It shall
be duly approved by the Farm Manager from the time of withdrawal. No approval means no
approved purchase order for whatever reason.
4. BILLING CYCLE AND PAYMENT: The SELLER shall extend a credit term of 30 days, cut-off
from 1st to the 31st of the month and shall be paid on the 5th of the next month. The SELLER shall
provide the BUYER a sales invoice upon delivery of the fuel, which shall indicate the quantity
delivered and the Selling Price as well as the due date for payment. The BUYER shall pay the
deliveries within 30 days from the date of delivery receipt (the “Due Date”).
5. PRODUCT QUALITY: Products to be delivered by the SELLER to the BUYER shall comply
with the fuel quality standards of the Department of Energy
6. PRODUCT QUANTITY: Official reference of the quantity delivered to BUYER shall be the tank
gauge level of the SELLER. The SELLER warrants that the gauze level is calibrated accurately and in
accordance with the law.
7. ASSIGNMENT OF RIGHTS: BUYER shall not assign and and/or all of its rights under this
agreement, or any other contract with the SELLER without the latter’s prior knowledge and written
consent. The term “assign” as used in this clause shall include the appointment by the BUYER of an
agent or any third party by virtue of a Special Power of Attorney or any other document authorizing
the latter.
8. TERM OF AGREEMENT: This agreement it valid for a period of one (1) year commencing on
the date of this agreement.
9. PRE-TERMINATION AND TERMINATION: Without prejudice to any other legal or
contractual remedies, the SELLER shall have the right to terminate this agreement in the event that
the BUYER failed to pay its outstanding obligations despite the written demand from the SELLER.
The BUYER shall have the right to terminate this Agreement by giving written notice to the
SELLER in the event that:
a. SELLER fails to deliver on time for two (2) consecutive periods or a total of three (3) non-
consecutive periods without proper coordination with the BUYER.
b. SELLER breaches any of its representation and obligations under this Agreement.
10. ENTIRE AGREEMENT: This Agreement contains the entire understanding between the parties
hereto relating to the subject matter hereof, and shall supersede all prior negotiations,
representations, agreements and understandings, whether oral or written, between these parties with
respect to the subject matter herein, and neither party shall be liable or bound to the other in any
manner by any warranties or representations (whether oral, implied or otherwise) not set forth
herein.
11. CONTACT PERSON:
a. Adel Basang : Site Admin Manager
: 0949 994 8119
b. Shy Cruz-Crisaldo : HRAD Manager
: (02) 837 41971
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date
first above written.
SELLER: BUYER:
By: ____________________ By: ____________________
Position title: ____________________ Position title: ____________________
Date: ____________________ Date: ____________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
) SS
BEFORE ME, a Notary Public of and in ___________________, this ____ day of _______________,
2020 personally appeared:
ID Type/
Name ID No.
Date/Place Issued
WITNESS MY HAND AND SEAL.
NOTARY PUBLIC
Doc. No. _____:
Page No. _____:
Book No. _____:
Series of 2020.
