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About the agreement of purchasing new yacht

Discussion in 'General Yachting Discussion' started by DanSmith, Apr 11, 2021.

  1. DanSmith, Apr 11, 2021
    #1
    DanSmith

    DanSmith New Member

    Joined:
    Apr 11, 2021
    Messages:
    1
    Location:
    Hong Kong
    Hi everyone,
    What term should I focus and pay attention to the new sailing yacht purchasing agreement?

    As I am planing to buy a new yacht direct from the shipyard (not famous) , instead of the broker. I need to deal with and study the term.

    It would be my pleasure if you can share your agreement or some of the terms to me.

    Many thanks.
  2. JWY, Apr 11, 2021
    #2
    JWY

    JWY Senior Member

    Joined:
    Feb 22, 2004
    Messages:
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    Location:
    Ft. Lauderdale
    I recommend that you hire a maritime attorney.
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  3. olderboater, Apr 11, 2021
    #3
    olderboater

    olderboater Senior Member

    Joined:
    Sep 2, 2013
    Messages:
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    Location:
    Fort Lauderdale
    Do not do it without a very good attorney, hopefully both a solid maritime attorney and a contract law attorney. May be one person or two. May be from the same firm or two. But a lot of people lose a lot of money by failing to protect themselves.

    Also, do due diligence on the shipyard, not just their ability to build a boat, but their financial situation and their integrity.

    And don't overlook one aspect. If it's not in the US, you may be governed by law where the shipyard is and you may need an attorney there.
    Last edited: Apr 11, 2021
    Rickfisher, Capt Ralph and hat4349 like this.