This website was made to help all the yacht lovers no matter if they own their boat or not. A yacht or a boat provides more than transportation, it implies a certain lifestyle. A yacht can be better considered more a luxury home from home, rather than just a simple means of transport. When you park a yacht in a marina, you pay less than you often would for a luxury suite in a 5 stars hotel, but you have your own apartment to lodge in. Before owning a yacht, you have to try the benefits of yacht … [Read more...]
Tips and Practical Things
Tips and practical things in the yachting and yacht brokerage world.
Liens on the Vessel Usually the contract provides expressly for two liens on the vessel: (a) one in favor of the builder/seller for the unpaid portion of the contract price; and (b) the other in favor of the buyer. The two liens are usually mutually exclusive, in the sense that the owners lien covers the yacht, materials and equipment provided for the project, up to the stage for which the purchase price has been paid. On the other hand, the yards lien extends to all materials not yet paid … [Read more...]
The Satisfactory Quality Test Before starting about common terms and conditions, let's continue what was left from the previous part. Unless the owner loses its right to reject by express or implied acceptance of the yacht, and always subject to express clauses to the contrary, section 14 provides for a sharp and strong remedy, particularly when the return of the purchase price is covered by a performance guarantee. [source] Remedies Available Section 15A of the Act provides that, … [Read more...]
Contract conditions in yacht building are explained further in this chapter. I have not imagined that it will take me so long to adapt the paragraphs in so many articles. It is not the last one in the series, and many more will come after this one. I just hope you will not be bored with its nature. Legislation is rather necessary when dealing with everything involving boats, yachts, or super-yachts. Delving in this subject has to make you prepared to deal with brokers, owners, lawyers, notaries … [Read more...]
Applicable law and nature of the contract It should be noted that certain jurisdictions classify shipbuilding contracts, and hence their yacht counterpart, as construction contracts instead, and therefore the choice of law applicable to the agreement is crucial. Choice of law clauses may expressly choose the law of a given country or can be less straightforward, making reference to the law of a place with a particular connection with the contract at stake. A further difficulty is that … [Read more...]