Tristar Terminals Bv

Tank Storage Agreement

Storage Facilities Leasing Procedures

Corporate Documentation:

The Client must provide an updated corporate profile and a valid business license.

Additionally, the Client must submit a product specification sheet and full details of the supplier/refinery/exporter or a refinery commitment letter.

Lease Agreement and Invoice Issuance:

Tristar Terminals B.V. will issue a Tank Storage Lease Agreement along with a commercial invoice, which outlines payment terms and a stipulated timeline for payment.

Confirmation of Agreement:

The Client must review, sign, and return the lease agreement and invoice as confirmation of commitment to the transaction.

Payment Obligation:

The Client is required to make payment immediately upon signing the lease agreement, adhering to the terms of the commercial invoice.

A valid payment receipt or bank transfer slip must be sent to Tristar Terminals B.V. to confirm the transaction.

TSR and Injection Schedule:

Upon confirmation of payment, Tristar Terminals B.V. will provide a Tank Storage Receipt (TSR) to the Client within 36 business hours. This follows the receipt of the Notice of Readiness (NOR) from the supplier/refinery and the finalization of the injection schedule.

Communication will be established between Tristar Terminals B.V. and the Client’s supplier/refinery/exporter to facilitate a smooth injection process.

First Injection and Storage Period:

Upon receiving the petroleum product (First Splash) into the tanks via the pipeline, the storage period paid for by the Client begins. The countdown for the validity of the storage days will start from the date of the first injection.

Inspection and Product Lifting:

The Client or the Client’s designated inspection team is responsible for conducting a dip test to confirm the quality and quantity of the petroleum product received.

The Client has the right to lift the product from the storage tank at any time during the validity of the lease period.

Key Notes:

Tristar Terminals B.V. ensures strict adherence to industry safety and quality standards during the storage and handling of petroleum products.

Non-compliance with the agreed payment terms or procedures may result in the termination of the lease agreement.

Any extension of the storage period must be agreed upon in writing and subject to additional charges.

This agreement ensures a transparent, efficient, and secure process for all parties involved, providing the Client with reliable tank storage solutions tailored to their needs.