Standard Terms & Conditions
Terms & Conditions
1. Introduction In these Terms and Conditions (hereinafter the "Conditions"), 'Contractor' shall mean Ocean King Marine Services (OKMS) Ltd; 'Client' shall mean the party who buys or agrees to buy Goods or Services from the Contractor or from a third party in cases where the Seller is acting as an intermediary; 'Goods' shall mean all the articles which the Client agrees to buy from the Contractor, or any of them; "Services" includes, but is not limited to, the carrying out of marine and technical services; 'Price' shall mean the price for the Goods or Services as set out in the invoice issued by the Contractor; "Contract" shall mean the contract for the sale of Goods or supply of Services between the Contractor and the Client.
2. Services Provided Ocean King Marine Services offers a range of marine and technical services, including but not limited to:
o Marine equipment supply and installation
o Technical consultancy
o Maintenance and repair services
o Project management
3. Service Agreement
3.1. Contract Formation: A contract is formed when the Client accepts our quotation or proposal for services.
3.2. Scope of Work: The scope of work will be detailed in the quotation. Any changes to the scope must be agreed upon in writing.
3.3. Purchase Order Requirement: The Contractor requires a Purchase Order (PO) or a written work order addressed to the company, to be issued by the Client before the commencement of works. The quote is based on details and specifications provided by the Client. Any works not covered in the quotation, the Contractor reserves the right to deny execution without additional charge(s). Additional charge(s) apply if there is a change in work scope at the discretion of the Contractor followed always by a revised Purchase Order (PO) or a written work order. Any additional materials supplied and works not mentioned/covered under the quote will be charged as additional and included in the final invoice. Any launch boat, custom charges, permission(s), port surcharges, and/or any other agency-related fees are not covered in the Purchase Order unless otherwise stated on the quotation.
4. Payment Terms
4.1. Pricing: All prices are quoted in Euros (€) and are exclusive of VAT unless otherwise stated.
4.2. Payment Schedule: Payments are due as per the schedule outlined in the quotation. Late payments may incur additional charges.
4.3. Late Payment Fee: A late payment fee of 2% per month will be levied on every invoice that is not settled within the agreed credit period.
4.4. VAT Exclusion: The above rates exclude applicable VAT, and VAT will be added to the invoice as extra as per local regulations. The applicable rate is 19%.
5. Client Responsibilities
5.1. Access and Safety: The Client shall provide reasonable and continuous access to the work location(s) with necessary safety measures, adequate light, and ventilation, where required. It is the Client’s responsibility to provide a safe working place.
5.2. Compliance: The Client must ensure compliance with all relevant laws and regulations.
5.3. Access and Information: The Client must provide access to relevant sites and necessary information for the completion of services.
5.4. Detailed Work Instructions: Detailed work instructions and Permit-to-work are to be provided to the Contractor’s personnel by the Client’s Technical/Safety Department prior to project execution.
6. Standby and Cancellation Terms
6.1. Standby Charges: If our personnel or equipment are required to be on standby due to delays caused by the Client, or beyond our control (i.e., bad weather conditions, delays caused by the Client’s personnel, etc.) standby charges will apply as outlined in the quotation. In any event of standby during the daily/hourly rate work, the team and equipment shall be charged at 100% of the standard daily/hourly rate.
6.2. Cancellation by Client: The Client may cancel the Purchase Order by providing written notice. Cancellation fees will apply as follows:
o 48 hours before project commencement: 50% of the total project cost plus the mobilization fees, demobilization fees, equipment hire, transportation, accommodation, personnel costs, reporting fees. In case of materials/products, these will be charged at 100%.
o 24 hours before project commencement: 75% of the total project cost plus the mobilization fees, demobilization fees, equipment hire, transportation, accommodation, personnel costs, reporting fees. In case of materials/products, these will be charged at 100%.
o Less than 24 hours: 100% of the total project cost plus the mobilization fees, demobilization fees, equipment hire, transportation, accommodation, personnel costs, reporting fees. In case of materials/products, these will be charged at 100%.
o Products cancellation: Products order cancellation are not permitted after the purchase order and these will be charged at 100%, plus transportation/delivery/packing/customs clearance/duties as applied.
6.3. Cancellation by Ocean King Marine Services Ltd: We reserve the right to cancel the agreement if the Client breaches any terms or fails to make payments. In such cases, any prepaid amounts may be forfeited.
6.4. Notice for Mobilization: Sufficient notice time shall be given for the mobilization of personnel and equipment. In case of change in the date of the project, additional charges might occur. In case of project cancellation, refer to par. 6.2. Standby charges shall be applicable if the notice period is not given in advance.
7. Liability
7.1. Limitation of Liability: Ocean King Marine Services shall not be liable for any indirect, incidental, or consequential damages arising from the use of our services. The maximum liability of OCEAN KING MARINE SERVICES LTD shall be limited to the total invoice of the particular project only.
7.2. Force Majeure: We are not liable for any delays or failures in performance due to events beyond our control, such as bad weather conditions, natural disasters, strikes, or governmental actions.
8. Confidentiality All information exchanged during the provision of services shall be treated as confidential and shall not be disclosed to third parties without prior consent.
9. Termination
9.1. Termination by Client: The Client may terminate the Purchase Order with prior written notice, subject to cancellation fees outlined in par. 6.2.
9.2. Termination by Ocean King Marine Services: We reserve the right to terminate the agreement if the Client breaches any terms or fails to make payments and as per par. 6.3.
10. Governing Law These terms and conditions are governed by the laws of Cyprus. Any disputes arising from these terms shall be subject to the exclusive jurisdiction of the courts of Cyprus.