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Boat Purchase Agreement
"I need a Boat Purchase Agreement for the sale of my 45-foot recreational yacht to a private buyer, with specific provisions for a marine survey and sea trial to be completed by March 2025, and including broker commission terms as the sale is being handled through Marine Brokers Ltd."
1. Parties: Identification of the Seller and Buyer with full legal names and contact details
2. Background: Context of the sale and brief description of the transaction
3. Definitions: Key terms used throughout the agreement including 'Vessel', 'Purchase Price', 'Completion Date', etc.
4. Sale and Purchase: Core agreement to sell and purchase the vessel, including the purchase price and payment terms
5. Vessel Details: Essential information about the boat including make, model, registration number, and key specifications
6. Purchase Price and Payment: Detailed breakdown of the purchase price, deposit requirements, and payment schedule
7. Inspection and Survey: Terms regarding pre-purchase inspection rights and survey requirements
8. Condition and Warranties: Seller's warranties about the vessel's condition and any disclaimers
9. Title and Risk: Provisions about transfer of ownership and risk in the vessel
10. Completion: Process and requirements for completing the sale, including documentation and handover
11. Default and Termination: Consequences of breach and circumstances allowing termination
12. General Provisions: Standard legal provisions including governing law, notices, and entire agreement
1. Broker Provisions: Required when a broker is involved in the sale, including broker's role and commission arrangements
2. Finance Conditions: Used when the purchase is subject to the buyer obtaining financing
3. Sea Trial: Details of sea trial arrangements when required by the buyer
4. Equipment and Inventory: Detailed list of equipment included/excluded when there are specific items to be addressed
5. Berth Transfer: Required when the sale includes transfer of marina berth or mooring rights
6. GST Provisions: Specific GST treatment when either party is GST registered or the vessel is used for commercial purposes
7. International Purchase Provisions: Additional provisions for international buyers including import duties and compliance requirements
1. Schedule 1 - Vessel Specifications: Detailed technical specifications of the vessel including dimensions, engine details, and equipment list
2. Schedule 2 - Inventory List: Comprehensive list of all equipment, accessories, and items included in the sale
3. Schedule 3 - Known Defects: List of any known defects or damage to the vessel
4. Schedule 4 - Maintenance Records: History of maintenance and repairs performed on the vessel
5. Schedule 5 - Registration Documents: Copies of current registration and ownership documents
6. Appendix A - Survey Report: Recent survey report if available
7. Appendix B - Insurance History: Details of insurance history and any claims
8. Appendix C - Photographs: Recent photographs of the vessel documenting its condition
Authors
Accessories
Broker
Business Day
Buyer
Completion
Completion Date
Deposit
Encumbrance
Equipment
GST
Inventory
Manufacturer
Maritime Authority
Maritime Rules
Purchase Price
Registration Certificate
Sea Trial
Seller
Settlement
Specifications
Survey
Surveyor
Title Documents
Transfer Documents
Vessel
Vessel Condition Report
Warranties
Working Days
Payment Terms
Deposit
Title Transfer
Warranties
Representations
Vessel Condition
Inspection Rights
Sea Trial
Risk and Insurance
Default
Termination
Force Majeure
Notices
Assignment
Broker Commission
Governing Law
Dispute Resolution
Entire Agreement
Amendments
Severability
Costs
GST
Confidentiality
Further Assurance
Time of Essence
Maritime Compliance
Registration
Encumbrances
Completion
Maritime
Recreational Boating
Commercial Fishing
Marine Tourism
Yacht Racing
Marine Transport
Boat Manufacturing
Marine Insurance
Maritime Law
Marine Finance
Legal
Compliance
Sales
Finance
Operations
Documentation
Risk Management
Marine Operations
Contract Administration
Marine Broker
Maritime Lawyer
Boat Dealer
Marine Surveyor
Fleet Manager
Marine Insurance Agent
Maritime Operations Manager
Compliance Officer
Legal Counsel
Contract Administrator
Marine Finance Manager
Yacht Broker
Marine Sales Manager
Documentation Officer
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