'AGREEMENT relating to the Sharjah Oil Concession' [‎2r] (3/4)

( 3 )
(3) The Company shall with every reasonable expedition and so as to avoid
demurrage on the vessel or vessels engaged to convey the same, do its utmost
to deli vei all oil or products of oil purchased by the Govomruoi.it undor their
said right of pre-emption in the quantities at the time and in the manner
required by the Government at a convenient place of shipment or at a place of
storage in Sharjah to be determined by His Majesty's Government, In the event
^ of a vessel employed to carry any such oil or products thereof on behalf of
His Majesty being detained on demurrage at tho port of loading the Company
shall pay the amount due for demurrage according to the terms of the charter
party and/or the rates of loading previously agreed with the Company unless
the delay is due to causes beyond the control of the Company. Any dispute
which may arise as to whether the delay is due to causes beyond the control
of the Company shall be settled by agreement between His Majesty’s Government
and the Company, and, in default of such agreement, the question shall be
referred to two arbitrators, one to be chosen by His Majesty's Gover nm ent (or
the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. ) and the other by the Company, with power to appoint
an umpire in case of disagreement, such arbitration to be held in England and
to be deemed a reference to Arbitration under the provisions of the Arbitra
tion Acts 1889 to 1934 (52 and 53 Viet, c.49; 24 and 25 Geo.V. c.14) of the
Imperial Parliament, or any statutory modification or re-enactment thereof
for the time being in force.
(4) The price to be paid for all oil or products of the refining or
treatment of oil taken in pre-emption by His Majesty's Government shall be
either (a) as specified in a separate agreement or (b) if no such agreement
shall have been entered into, a fair price for the time being at the point
of delivery as the same shall be settled by agreement between His Majesty’s
Government and the Company, or in default of such agreement by arbitration
in the manner provided by the last preceding sub-clause.
To assist in arriving at a fair price at the point of delivery the
Company shall furnish for the confidential information of His Majesty's
Government, if so required, particulars of the quantities, descriptions and
prices of Sharjah oil or products sold to other customers and of charters or
contracts entered into for carriage and shall exhibit to His Majesty's
Government original or authenticated copies of contracts or charter parties
entered into for the sale and/or carriage of such oil or products,
(5) His Majesty's Government shall be at liberty to take control of the
works, plant and premises of the Company in Sharjah, and in such event the’
Company shall conform to and obey all directions issued by or on behalf of
His Majesty's Government. Compensation shall be paid to the Company for any
loss or damage that may be proved to have been sustained by the Company by
reason of the exercise by His Majesty’s Government of the powers conferred by
this sub-clause. Any such compensation shall be settled by agreement
between His Majesty’s Government and the Company or, in default of agreement,
by arbitration in the manner provided by sub-clause (3).
SIGNED SEALED AND DELIVERED by )
the said John Charles Walton C.bJ
on behalf of His Majesty's )
Government in the presence of:-)
J. C. WALTON (L.S.)
A.C.B. SYMON
India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. .
THE COMMON SEAL of Petroleum )
Concessions Limited was here- )
unto affixed in the presence )
of:- )
W. FRASER Director
E.J. BROWN Secretary
(SEAL)