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...]
Yacht Building Contracts – The Legal Framework
Introduction Yacht building contracts (as any other shipbuilding contracts) are complex transactions devised for the construction of a floating vessel (be it an oil tanker, a cargo ship, a yacht, or a superyacht) in a complex contractual framework. In the industry, they rather use standard form contracts which will be amended at will by the parties. In those templates will be negotiated individual agreements. Shipyards will produce sometimes their own contracts just to reflect their … [Read more...]