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Vessel Purchase And Sale Agreement
"I need a Vessel Purchase And Sale Agreement for the acquisition of a commercial cargo vessel registered in the UK, with specific provisions for existing crew retention and a staged payment structure over 6 months starting March 2025."
1. Parties: Identification and details of buyer and seller
2. Background: Context of the transaction and vessel details
3. Definitions: Key terms used throughout the agreement
4. Vessel Description: Detailed specification of the vessel being sold
5. Purchase Price: Agreement on price and payment terms
6. Inspections and Surveys: Requirements for vessel inspection and acceptance
7. Conditions Precedent: Conditions that must be met before completion
8. Completion: Process and requirements for transfer of ownership
9. Warranties: Seller's representations about vessel condition and title
1. Broker's Commission: Terms for broker payment when a broker is involved in the transaction
2. Crew Arrangements: Provisions for existing crew contracts when vessel is sold with existing crew
3. Charter Arrangements: Provisions for existing charters when vessel is subject to ongoing charter agreements
1. Vessel Specifications: Detailed technical specifications and inventory
2. Classification Records: Vessel's classification society records and certificates
3. Form of Bill of Sale: Template for the formal transfer document
4. Protocol of Delivery and Acceptance: Document confirming physical transfer of vessel
5. List of Excluded Items: Items not included in the sale, used when specific items are excluded from sale
Authors
Acceptance Protocol
Bill of Sale
Buyer
Classification Society
Completion
Completion Date
Deposit
Encumbrances
Flag State
IMO Number
Inspection Period
Maritime Liens
Mortgage
Purchase Price
Registration
Seller
Specifications
Survey Report
Technical Documentation
Title
Vessel
Vessel Certificates
Vessel Documents
Warranties
Working Day
Classification Records
Delivery Date
Delivery Location
Due Diligence
Equipment
Governing Law
Inspection
Insurance
Port of Registry
Protocol of Delivery
Purchase Price Balance
Regulatory Authority
Sea Trial
Spares
Transfer Documents
Vessel condition
Vessel Description
Purchase Price and Payment
Deposit
Inspections and Surveys
Conditions Precedent
Due Diligence
Warranties and Representations
Title and Risk
Delivery and Acceptance
Registration Requirements
Classification
Documentation
Insurance
Encumbrances
Maritime Liens
Governing Law
Dispute Resolution
Force Majeure
Confidentiality
Notices
Assignment
Broker Commission
Termination
Default
Indemnification
Taxes and Costs
Amendments
Entire Agreement
Severability
Third Party Rights
Further Assurance
Compliance with Laws
Time of the Essence
Counterparts
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