AuctionConnect Terms of Use

Terms of site use This page (together with the documents referred to on it) tells you the terms of use on which you may make use of our online bunker procurement platform (the “Site”), whether as a guest (spectator) or a registered user. Please read these terms of use carefully before you start to use the site.

2.0 Information About Us is a platform operated by KPI OceanConnect Ltd. (“AuctionConnect”, “we” or “us”). AuctionConnect is a website platform for facilitating the buying and selling of marine fuels in an auction, where prices will fall in real time.

3.0 How AuctionConnect Works

AuctionConnect is a platform that connects people who want to purchase marine fuel for their vessels (“Buyer”) to suppliers and/or traders that can supply marine fuel to their requirements (“Seller”) and then utilize our AuctionConnect system to obtain the best solution at competitive prices. If the Buyer and Seller agrees, the parties will enter into a supply agreement directly (a “Transaction”). Transactions are made exclusively between Buyers and Sellers. KPI OceanConnect Ltd. collects a fixed, pre-agreed commission from the Seller.

KPI OceanConnect Ltd. may from time to time place requirement in its own name (a “Traded Bid”). In respect of Traded Bids, KPI OceanConnect Ltd. will be acting as Buyers and the transaction will be entered for the account and risk of KPI OceanConnect Ltd.

Buyer and Seller share the responsibility for ensuring seamless transactions made on the platform while they are entirely and solely responsible for the accuracy of the registered company details, vessels IMO numbers and Terms & Conditions agreed upon. Save in respect of Traded Bids, KPI OceanConnect Ltd. sole involvement in the transaction is as a facilitator by making the AuctionConnect platform available to the parties and KPI OceanConnect Ltd. accepts absolutely no liability for this transaction, the accuracy of the information related to the transaction or the performance or non-performance of the transaction . All claims relating to a transaction will be resolved between the Buyer and the Seller. Claims can be facilitated on the AuctionConnect Platform.

Buyers and Sellers are responsible for complying with all laws and regulations applicable to the sale and shipment of marine fuel. The obligation of KPI OceanConnect Ltd. is to bring the parties together for the purpose of entering into a Transaction only. KPI OceanConnect Ltd. disclaims all liability arising from or related to any Transaction to the fullest extent permitted by law. KPI OceanConnect Ltd.’s liability for any claim whatsoever, however arising and whether caused by negligence or not, whether based in tort or contract shall be limited to the value of KPI OceanConnect Ltd.’s fixed fee for the Transaction in question.

4.0 Suppliers and Fees

KPI OceanConnect Ltd. Is not responsible for the conduct of any prospective Buyer during any auctions.

Sellers accept that any decision to provide a service to a particular Buyer is made solely by the Seller without any representation, warranty or statement made to him by KPI OceanConnect Ltd.

If you are a Seller, you make an offer via AuctionConnect to a Buyer who will accept or reject the offer via the platform. If the offer is accepted the Seller will enter into a Transaction with the Buyer under specific terms negotiated between the Seller and Buyer.

By using KPI OceanConnect Ltd.’s Auction platform, Sellers agree to pay a pre-agreed fixed fee in USD per metric tonne of marine fuel supplied to the Buyer that have been introduced via KPI OceanConnect Ltd. Payment is due 30 calendar days from date of delivery unless otherwise stated.

5.0 Trading Commitment

Both Buyers and Sellers are responsible for agreeing on the marine fuel quality auctioned via the platform, including any additional terms the Buyer or Seller provides before the Buyer accepts an offer made by the Seller.

Unless otherwise agreed, the Buyers commit to purchase the fuel from the Seller and the Sellers commits to supply the fuel to the Buyer under the Seller’s terms and conditions as stated in the Seller’s offer (the “Terms and Conditions”).

If you make a commitment as stated above, you enter into a legally binding contract (a “Contract”) with the counterparty and you are obligated to purchase or supply the marine fuel respectively. If either the Buyer or the Seller breaches or fails to perform the Contract, any and all claims and liabilities will have to be settled in accordance with the terms of the contract or as otherwise agreed between the Buyer and the Seller. KPI OceanConnect Ltd. may upon request facilitate settlement discussions to attempt to resolving the dispute or claim, but KPI OceanConnect Ltd. accepts no liability whatsoever in respect hereof.

Both Buyer and Seller agree that the final settlement of the payment of the marine fuel will be conducted directly, without the involvement of KPI OceanConnect Ltd., since KPI OceanConnect Ltd. is simply a facilitator for this purchase.

Sellers submit offers under the Terms and Conditions declared by them prior to the auction process. Any change to the Terms and Conditions after the Buyer’s confirmation is considered invalid.

By using AuctionConnect to obtain offers from invited Sellers, Buyers agree that they shall not accept offers from these Sellers outside of the platform.

Buyers and Sellers are responsible for all insurance of their own property and liabilities. If a Buyer or Seller has any doubt about what insurance is required, they should consult their own insurers or insurance brokers.

Buyers are responsible for satisfying themselves that the request for marine fuel fits their requirements, both as regards to the specific grade of marine fuel and as regards to the quantity. KPI OceanConnect Ltd. does not warrant that the marine fuel is fit for the purpose of the Buyer or that they are free from any defect or vice.

Sellers are responsible for the legality, accuracy and completeness of the description of all properties and related terms posted on the platform. KPI OceanConnect Ltd. disclaims all liability for the legality, accuracy or completeness of any offers submitted by Sellers and in respect of any proposed contract that fails to complete for any reason whatsoever.

6.0 General Terms

KPI OceanConnect Ltd. makes no warranty as to any particular result being achieved or obtained, or being achievable or obtainable, from use of the platform or connection of any prospective Buyer to Seller.

Buyers and Sellers accept that KPI OceanConnect Ltd.’s role is limited to no more than that of a facilitator.

7.0 Accessing our Platform

Access to our site is permitted on a temporary basis, and we reserve the right to withdraw or amend the service we provide on our platform without notice (see below). We will not be liable if for any reason our site is unavailable at any time or for any period.

From time to time, we may restrict access to users who have registered with us.

If you are provided with, a user identification code, password, or any other piece as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any third party. We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of the provisions of these terms of use.

You are responsible for making all arrangements necessary for you to have access to our site. You are also responsible for ensuring that all persons who access our site from any devices, using your login credentials, are aware of these terms, and that they comply with them.

8.0 Intellectual Property Rights

We are the owner or the licensee of all intellectual property rights on our platform, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved. You may print off one copy, and may download extracts, of any page(s) from our platform for your personal reference and you may draw the attention of others within your organization to material posted on our platform.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of material on our platform must always be acknowledged.

You must not use any part of the materials on our platform for commercial purposes without obtaining our permission in writing.

9.0 Suspension and Termination

We will determine, in our discretion, whether there has been a breach of this policy through your use of our platform. When a breach of this policy has occurred, we may take such action as we deem appropriate.

Failure to comply with acceptable use policy constitutes a material breach of these terms upon which you are permitted to use our platform, and may result in our taking all or any of the following actions:

Immediate, temporary or permanent withdrawal of your right to use our platform.

Issue of a warning to you.

Legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach.

Further legal actions against you.

We exclude liability for actions taken in response to breaches of this acceptable use policy. The responses described in this policy are not limited, and we may take any other action we reasonably deem appropriate.

10.0 Reliance on Information Posted

Commentary and other materials posted on out platform are not intended to amount to advice on which reliance should be placed. We therefore disclaim all liability and responsibility arising from any reliance placed on such materials by any visitor to our platform, or by anyone who may be informed of any of its contents.

11.0 Platform changes

We aim to update and develop our platform and may make changes at any time. If the need arises, we may suspend access to our platform or close it indefinitely. Any of the material on our platform may be out of date at any given time, and we are under no obligation to update such material.

12.0 Our Liability

The material displayed on our site is provided without any guarantees, conditions, or warranties as to its accuracy. To the extent permitted by law, we, other members of our group of companies and third parties connected to us hereby expressly exclude:

All conditions, warranties and other terms which might otherwise be implied by statute, common law or the law of equity.

Any liability for any direct, indirect, or consequential loss or damage incurred by any user in connection with our platform or in connection with the use, inability to use, or results of the use of our platform, any websites linked to it and any materials posted on it, including:

loss of income or revenue;

loss of business;

loss of profits or contracts;

loss or corruption of data;

loss of goodwill;

wasted management or office time;

whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.

KPI OceanConnect Ltd.’s liability for any claim whatsoever, however arising and whether caused by negligence or not, whether based in tort or contract shall be limited to the value of KPI OceanConnect Ltd.’s fixed fee for the Transaction in question.

13.0 Information about you and your visits to our Platform

We process information about you in accordance with our Private Policy. By using our site, you consent to such processing, and you warrant that all data provided by you is accurate.

14.0 Transactions Concluded through our Platform

Transactions formed through our platform or as a result of visits made by you are governed solely by the terms and conditions of the individual supply agreement agreed between the users of the site.

15.0 Uploading Material to our Platform

Whenever you make use of a feature that allows you to upload material to our site, or to contact with other users of our site, you must comply with the content standards set out in our acceptable use policy. You warrant that any such contribution does comply with those standards, and you indemnify us for any breach of that warranty.

Any material you upload to our site will be considered non-confidential and nonproprietary, and we have the right to use, copy, distribute and disclose to third parties any such material for any purpose. We also have the right to disclose your identity to any third party who is claiming that any material posted or uploaded by you to our site constitutes a violation of their intellectual property rights, or of their right to privacy.

We will not be responsible, or liable to any third party, for the content or accuracy of any materials posted by you or any other user of our site.

We have the right to remove any material or posting you make on our site if, in our opinion, such material does not comply with the content standards set out in our acceptable use policy.

16.0 Viruses, Hacking and other Offences

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorized access to our site, the server on which our site is stored, or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack.

We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data, or other proprietary material due to your use of our site or to your downloading of any material posted on it, or on any website linked to it.

17.0 Linking to our Platform

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on our part where none exists.

You must not establish a link from any website that is not owned by you.

Our site must not be framed on any other site, nor may you create a link to any part of our site other than the home page. We reserve the right to withdraw linking permission without notice. The website from which you are linking must comply in all respects with the content standards set out in our acceptable use policy.

If you wish to make any use of material on our site other than that set out above, please address your request to

18.0 Links from our Platform

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources and accept no responsibility for them or for any loss or damage that may arise from your use of them.

19.0 Sanctions, Anti-bribery and Anti-corruption

The Buyer and the Seller undertake and warrant that they are in respects in full compliance with the Sanctions Laws; that the Buyer is purchasing and the Seller is selling the products as principal and not as agent, trustee or nominee of any person or entity with whom transactions are prohibited or restricted under the Sanctions Laws; and the products purchased have no relation to and will not be used in any manner whatsoever directly or indirectly in connection with any entities, persons, projects, contracts, transactions or payments that contravenes any Sanctions Laws. Further in relation to these Sanctions Laws, the Buyer confirms and warrants that the vessel to be supplied is not and/or will notbe:

A designated vessel or flagged by a sanctioned country;

Owned or chartered by or related to any designated entity or person;

Coming from or on its way to visit countries or regions designated under the Sanctions Laws;

Involved in the transfer of goods that may be prohibited under the Sanctions Laws; or

Engaged in any conduct designed to evade any Sanctions Laws, including but not limited to

turning off transponders, reporting false travel plans, deviating from reported travel plans and engaging in ship-to-ship transfers to hide the origin of goods.

If at any time KPI OceanConnect becomes aware or have reasonable grounds to believe that the Buyer or Seller is in breach of the warranty as aforesaid, KPI OceanConnect Ltd. shall have the option in its complete discretion to immediately cancel the auction. Under such circumstances, the breaching party shall be liable to indemnify the KPI OceanConnect Ltd. against any and all claims, including return of any payment, losses, damages, costs and fines whatsoever suffered by KPI OceanConnect Ltd. resulting from any breach of warranty as aforesaid.

The Buyer and Seller acknowledges that anticorruption laws and regulations, including but not limited to the U.S. Foreign Corrupt Practices Act (“FCPA”) and the UK Bribery Act 2010, shall apply to the parties. The Buyer and Seller shall comply with all applicable anticorruption laws and regulations and will not, offer, promise, pay, or authorize the payment of any money or anything of value, or take any action in furtherance of such a payment, whether by direct or indirect means, to any public official or private individual to influence the decision of such person in the performance of his duties to a government or to his company. If at any time KPI OceanConnect becomes aware or have reasonable grounds to believe that the Buyer or Seller is in breach of the warranty as aforesaid, KPI OceanConnect Ltd. shall have the option in its complete discretion to immediately cancel the auction. Under such circumstances, the breaching party shall be liable to indemnify the KPI OceanConnect Ltd. against any and all claims, including return of any payment, losses, damages, costs and fines whatsoever suffered by KPI OceanConnect Ltd. resulting from any breach of warranty as aforesaid.

The Buyer and Seller acknowledges having read and understood KPI OceanConnect Ltd.’s Code of Conduct (copy available upon request) and confirm that they operate their business under the same or similar standards therein.For the purpose of this Clause 19.0 “Sanction laws” means the various export controls and economic sanctions regulations, including but not limited to, those maintained by various European Governments and the EU, Switzerland, the US Government as enforced by the US Office of Foreign Assets Control, the US Department of State, and the US Department of Commerce, and various UN sanctions as implemented into local laws.

20.0 Jurisdiction and Applicable Law

The English courts will have exclusive jurisdiction over any claim arising from, or related to, a visit to our site.

These terms of use and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

21.0 Variations

We may revise these terms of use at any time by amending this page. You are expected to check this page from time to time to take notice of any changes we made, as they are binding on you. Some of the provisions contained in these terms of use may also be superseded by provisions or notices published elsewhere on our site.

22.0 Your Concerns If you have any concerns about material which appears on our site, please contact