This agreement governs all fuel supply transactions on credit terms between Scherkraft and registered fuel buyers. A buyer must sign this agreement before their first fuel delivery. By registering as a buyer and placing your first order, you agree to be bound by these terms in full.
This Credit Agreement ("Agreement") is entered into between Scherkraft, S.A., a company incorporated under the laws of the Republic of Panama ("Scherkraft", "Supplier"), and the shipping company or fleet operator registered as a fuel buyer on the Scherkraft platform ("Buyer", "you").
This Agreement governs the supply of marine fuel (bunkers) by Scherkraft to the Buyer on deferred payment terms. Each individual fuel delivery constitutes a separate transaction subject to the terms of this Agreement and any deal-specific confirmation issued by Scherkraft at the time of order.
Upon successful application and approval, Scherkraft will establish a credit facility for the Buyer specifying:
Scherkraft reserves the right to review, adjust, or withdraw the credit facility at any time, with notice where practicable. The credit facility is personal to the Buyer and may not be transferred.
Orders for marine fuel must be placed through the Scherkraft buyer portal. Each order must specify the vessel name and IMO number, the port, the fuel grade and quantity required, and the requested delivery date. Orders are subject to Scherkraft's acceptance and port availability. Order confirmation constitutes Scherkraft's commitment to supply.
The Buyer warrants that each vessel named in an order is owned or operated by the Buyer, is in good standing with relevant maritime authorities, and holds all required certificates and licenses for commercial operation.
Scherkraft arranges delivery of fuel to the vessel at the agreed port. Title and risk in the fuel pass to the Buyer upon delivery, as confirmed by a signed Bunker Delivery Receipt (BDR). The BDR constitutes conclusive evidence of delivery and the quantity delivered unless the Buyer raises a written dispute within 24 hours of delivery.
Fuel is priced at the rate confirmed in the order confirmation, inclusive of Scherkraft's supply margin. Prices are in United States Dollars (USD). Scherkraft does not charge hidden fees. The price in the order confirmation is the price on the invoice.
| Credit Term | Payment Due |
|---|---|
| 7-day | 7 calendar days from delivery date on BDR |
| 15-day | 15 calendar days from delivery date on BDR |
| 21-day | 21 calendar days from delivery date on BDR |
| 30-day | 30 calendar days from delivery date on BDR |
Payment must be made in full by wire transfer to the Scherkraft bank account specified on the invoice. Payment is deemed received on the date funds are credited to Scherkraft's account. Partial payments are accepted but do not suspend the accrual of penalty interest on the outstanding balance.
Penalty interest accrues automatically from day 31. If payment is not received in full by the due date, penalty interest accrues on the outstanding balance at a rate of 3% per month (36% per annum), compounding monthly, from the first day after the due date until the date of full payment. This rate is disclosed in advance and is non-negotiable.
Scherkraft will issue a late payment notice by email on the first business day following the due date. Receipt of a late payment notice does not constitute a waiver of any rights under this Agreement.
The Buyer is in default if any invoice remains unpaid 15 days after the due date, the Buyer breaches any term of this Agreement, the Buyer becomes insolvent or enters into any insolvency proceeding, or any representation made by the Buyer proves to be false or misleading.
Upon default, Scherkraft may, without further notice:
All costs of collection — including legal fees, court costs, and collection agency fees — are for the account of the Buyer and will be added to the outstanding balance.
The Buyer acknowledges that non-payment of a fuel invoice may affect the Buyer's ability to obtain maritime credit, fuel supply, and port services from other providers globally. The Buyer further acknowledges that Scherkraft may exercise maritime lien rights where available, which may result in the detention of vessels. These consequences are disclosed as a factual description of available remedies, not as a threat.
A one-time registration fee of USD $99.99 is charged upon application submission to cover application processing and credit assessment. This fee is non-refundable regardless of whether the application is approved. An annual renewal fee of USD $69.99 is charged automatically from the Buyer's account each year on the anniversary of account activation. Failure to maintain a valid payment method for renewal will result in account suspension.
Buyer accounts and investor accounts are strictly separate and may not be held simultaneously by the same individual or entity. Violation of this restriction will result in immediate suspension of both accounts pending investigation.
The Buyer represents and warrants that it is a legally constituted company or entity with full authority to enter into this Agreement, that all information provided in the registration application is accurate and complete, that it will promptly notify Scherkraft of any material change in its financial position or fleet, and that the fuel ordered will be used solely for the operation of vessels registered to the Buyer.
Scherkraft's liability for any claim arising from a failure to deliver fuel as ordered is limited to a refund or credit of the value of the undelivered fuel. Scherkraft is not liable for any consequential losses including vessel off-hire, loss of cargo, or reputational damage arising from delivery failure.
This Agreement is governed by the laws of the Republic of Panama. Any dispute that cannot be resolved amicably shall be submitted to binding arbitration in Panama City under the rules of the Centro de Conciliación y Arbitraje de Panamá. Nothing in this clause limits Scherkraft's right to seek injunctive relief or to pursue maritime claims in any competent jurisdiction.
Scherkraft may amend these terms on 14 days' written notice. Continued use of the platform after the effective date constitutes acceptance. If you do not accept an amendment, you may close your account before the effective date, provided all outstanding invoices are paid in full.
Scherkraft, S.A.
Republic of Panama
Email: buyers@scherkraft.com