Terms & Conditions for Walrich Marine Services Pte Ltd

Effective Date: 12 December 2024

1. Definitions

In these Terms and Conditions:

• Company: Refers to Walrich Marine Services Pte Ltd.
• Client: The individual or entity engaging the Company for services.
• Services: Encompasses marine repairs, supply of spares, vessel inspection, and marine logistics provided by the Company.
• Agreement: The contract between the Company and the Client for the provision of Services, incorporating these Terms and Conditions.

2. Scope of Services

The Company agrees to provide the Services as detailed in the Agreement or any associated Work Orders. Services may include, but are not limited to, routine maintenance, emergency repairs, procurement and delivery of marine spare parts, comprehensive vessel inspections, and coordination of marine transportation and logistics.

3. Quotations and Orders

• Quotations: All quotations provided by the Company are valid for a period of 30 days from the date of issuance unless otherwise stated. Quotations are subject to change based on market conditions and availability of resources.
• Orders: An order is considered accepted only upon written confirmation from the Company. The Company reserves the right to refuse any order at its discretion.

4. Pricing and Payment Terms

• Pricing: Prices for Services will be as specified in the accepted quotation or Agreement. All prices are exclusive of applicable taxes, duties, and levies unless stated otherwise.
• Payment Terms: Invoices are payable within 30 days from the date of issuance unless alternative terms are agreed upon in writing. Late payments may incur interest at a rate of 1.5% per month or the maximum rate permitted by law, whichever is lower.

5. Client Obligations

• Access and Information: The Client shall provide the Company with timely access to the vessel, necessary documentation, and any other information required to perform the Services effectively.
• Permits and Approvals: The Client is responsible for obtaining all necessary permits, approvals, and authorizations required for the Services, including those related to port authorities and regulatory bodies.

6. Warranties and Liability

• Standard of Service: The Company warrants that all Services will be performed with reasonable care and skill, in accordance with industry standards.
• Limitation of Liability: The Company's liability for any claims arising out of the performance of Services shall be limited to the amount paid by the Client for those Services. The Company shall not be liable for any indirect, incidental, or consequential damages, including but not limited to loss of profits or business interruption.

7. Confidentiality

Both parties agree to maintain the confidentiality of any proprietary or sensitive information received from the other party and not to disclose such information to any third party without prior written consent, except as required by law.

8. Termination

Either party may terminate the Agreement with 30 days' prior written notice. Termination may occur immediately if there is a material breach of the Agreement by the other party, insolvency, or if the performance of the Agreement becomes impossible due to circumstances beyond the control of either party.

9. Governing Law

These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore.

10. Dispute Resolution

Any disputes arising out of or in connection with these Terms and Conditions shall first be attempted to be resolved amicably through mutual discussions. If unresolved, disputes shall be referred to mediation in Singapore in accordance with the Mediation Rules of the Singapore Mediation Centre. Should mediation fail, disputes shall be submitted to the exclusive jurisdiction of the courts of Singapore.

11. Force Majeure

The Company shall not be held liable for any failure or delay in performing its obligations under the Agreement if such failure or delay is due to circumstances beyond its reasonable control, including but not limited to acts of God, war, strikes, pandemics, or governmental restrictions.

12. Insurance

The Client shall ensure that adequate insurance coverage is in place for the vessel and any associated risks during the performance of the Services. The Company maintains its own liability insurance but does not provide insurance coverage for the Client's vessel or cargo.

13. Indemnity

The Client agrees to indemnify and hold harmless the Company, its employees, and agents from any claims, damages, losses, or expenses arising out of or in connection with the Services, except to the extent that such claims arise from the gross negligence or willful misconduct of the Company.

14. Subcontracting

The Company reserves the right to subcontract any part of the Services to qualified third parties, provided that the Company remains responsible for the performance of such subcontracted Services.

15. Amendments

The Company reserves the right to amend these Terms and Conditions at any time. Clients will be notified of any changes, and continued engagement of the Company's Services constitutes acceptance of the amended Terms and Conditions.

Walrich Marine Services Pte Ltd