408, Q BLOCK, MODEL TOWN

IS PETROLEUM LAHORE Ph:

4382222
+92-321-

Supplier and Distributor of Petroleum Products

SALE & PURCHASE AGREEMENT

FOR HIGH SPEED DIESEL
This Non-Disclosure seller/buyer agreement (NDA) of deed hereafter called as
"SUPPLIER— BUYER AGREEMENT” is made and Executed at February 12 th 2021.

BETWEEN

(seller) Party One

Company Name:
Contact Person:
Address:
Contact No: 0321-
CNIC: _____-_______-_

(Buyer) Party Two

Company Name: IS Petroleum

Contact Person: Imtiaz Maqbool
Address: 91 Hunza Block, Allama Iqbal Town, Lahore.
Contact No: 0321-4382222
CNIC: 35202-2557527-9

Whereas:

 The undersigned wish to enter into this agreement to define certain parameters
of the future legal obligations, are bound by duty of confidentiality with respect to
their sources and contracts.

 The undersigned desire to enter into a working business relationship to the

mutual and common benefit of the parties hereto, including their affiliates,
subsidiaries, stockholders, partners, co-ventures, trading partners and other
associated organizations (herein after referred to as Affiliates).
 408, Q BLOCK, MODEL TOWN

IS PETROLEUM LAHORE Ph:

4382222
+92-321-

Supplier and Distributor of Petroleum Products

TERMS AND CONDITIONS:

 The parties will maintain complete confidentiality regarding each other’s business
sources and / or their affiliates and will not disclose such business sources to
anyone.

 That they will not disclose names, addresses, Email address, telephone and fax
or telex numbers to any contacts by either party to third parties and they each
recognize such contracts as the exclusive property of the respective parties and
they will not enter into any direct negotiations or transactions with such contracts
revealed by other parties.

 That they further undertake not to enter into business transaction with any
entities, the names of which have been provided by one of the parties to this
agreement, unless written permission has been obtained from the other party to
do so for the sake of this agreement. It does not matter whether information
obtained from a natural or a legal person. The parties also undertake not to make
use of a third party to circumvent this clause.

COMMODITY:

 The supplier is responsible of the quality &quantity of material supplied as per

OGRA standard/specifications of the HSD and bound to provide delivery of
500,000 liters (Five Hundred Thousand liters) on every Working day after signing
this agreement and fulfilling all the terms and conditions of this agreement.

 A discount of PKR 11.00 per liter shall be provided by the Seller on OGRA price
which shall be considered as delivered price.

 The Seller will issue CODE for HSD from OMC in the name of IS Petroleum.

 The buyer is bound to arrange the vehicles for transportation of Diesel Oil in
good condition, drivers are professional, experienced and in good health and all
necessary paper work should be complete and accompanied by them at all
deliveries.
 408, Q BLOCK, MODEL TOWN

IS PETROLEUM LAHORE Ph:

4382222
+92-321-

Supplier and Distributor of Petroleum Products

 The seller is bound to fill the vehicles from PSO nozzle from PSO depots all over
Pakistan.

 Destinations: Machikay, Gatti, Mehmood Kot and Sehala.

 The Seller will provide their allocation quota after signing this agreement.

 Buyer will inform 24 hours before for the allocation of demanded quota from their
destination and seller will reconfirm that through Email and provide allocation in
to the issued CODEE. The buyer will use that CODE for filling.

 Seller will also confirm allocation of his product at destinations before 24 hours
demand of the buyer.

PAYMENT:

 The buyer ensures to provide Bank Guaranty (BG) from a reputable commercial
bank within 10 working days after signing this agreement.

 The buyer will provide Bank Guaranty (BG) amounting 250 Million Pak Rupees.
(25 CRORE RUPEES)

 Seller is bound to start supplies within two days after receiving and verification of
BG through their respective banks.

 Buyer will clear all dues at the closing of every week.

 Seller will stop supplies at 100 % limit of BG.

 408, Q BLOCK, MODEL TOWN

IS PETROLEUM LAHORE Ph:

4382222
+92-321-

Supplier and Distributor of Petroleum Products

ARBITERATION:

 All disputes or disagreements which may arise out of this contract only shall be
settled by Government of Pakistan Arbitration court as per procedures in vogue.

 The signing parties hereby accept such selected jurisdiction as the exclusive
venue.

 Violation of the terms and conditions of this agreement will lead to the termination
of the contract with the mutual consent of both parties.

 All signatories hereto acknowledge that they have read the foregoing agreement
and by their initials and signature that they have full and complete authority to
execute the document for and in the name of the party for which they have given
their signature. ACCEPTED AND AGREED WITHOUT CHANGE.

 In case Seller fails to supply High Speed Diesel (HSD) to Buyer, it will be liable to
pay 1% amount of total price of daily consumption as fine and vice versa, the
Buyer is also liable to pay 1% fine to Seller if it does not place the daily order / lift
the daily supply. This transaction of fine will be paid / adjusted at the end of each
calendar month.

UNFORESEEN:

 Unforeseen Incidents/Force Majeure Following will be ensured:

 In case of an unforeseen incident/s like Major strikes, riots, natural calamities and
war like conditions beyond human control, both the parties will mutually agree
and lay the Terms and conditions for the course of action for supply and
purchase of HSD.
 408, Q BLOCK, MODEL TOWN

IS PETROLEUM LAHORE Ph:

4382222
+92-321-

Supplier and Distributor of Petroleum Products

 In case of death 0r non-availability of PARTY ONE or PARTY TWO

representatives due to which any of the term and condition of this deed
agreement shall have an effect, the other party shall continue through a mutually
agreed nominee by each party.

 The contract shall become effective after its signing by Both Parties. The contract
is written in English Language in original.

This Agreement is valid for one year and that shall be from February 12 th 2021 to

February 10th 2022. This agreement is renewable by mutual consent of both the parties.

All force-majeure terms & Conditions are applicable.

SELLER BUYER

Name: Name: IMTIAZ MAQBOOL

CNIC: CNIC: 35202-2557527-9

Address: Address: 91 Hunza Block, Allama Iqbal

Town, Lahore.

WITNESS 1: WITNESS 2:

NAME: ______________ NAME: _____________

MOBILE: ______________ MOBILE: _____________