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Commercial Practice in Bunkering, First Edition 2011
Commercial Practice in Bunkering is a valuable source of information and guidance on the process and methods of buying and selling bunker fuels. It assumes a little knowledge of ships, commerce and marine fuel and is intended as a ready reference for those who need to understand how the commercial side of the business really works.
Any commercial deal between a seller and buyer can be frustrated at any stage of the process, and bunkering can be particularly prone to contractual problems. In Commercial Practice in Bunkering, Nigel Draffin deftly guides the reader around the pitfalls, using simple and sometimes entertaining language to explain often complicated issues.
The book examines every aspect of the commercial deal, from the buyer’s enquiry to the supplier’s offer, terms and conditions, the contract and each party’s obligations.
It takes the reader through the delivery, documentation and settlement of the invoice, along the way covering negotiation, hidden costs, credit, payment terms, default and even debunkering.
The book is full of examples of clauses drawn from real contracts and practical advice on how to interpret them. There is also a chapter on the costs – and potential financial penalties – of increasingly stringent international environmental regulations.
