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Memorandum Of Agreement Yacht

The reality is that you should never underestimate the importance of having a thorough understanding of legal processes, legal certificates, transaction documents, tax positions and the various forms necessary to sell or purchase a super-yacht. Do I want to keep the same flag? Will the current flag have an impact on the use of the super-yacht? What is related to changing flags? Will the new flag include this type of superyacht as a private or commercial superyacht? Are there any special conditions, or items I would like to leave on the superyacht (i.e. the transfer of impending charters or some items repaired before closing)? Is it a pleasure to superyacht and recorded in private, or do I want to charter the super yacht? Are all the legal documents of the super-yacht correct? Is the super-yacht funded? If so, the bank`s agreement is generally required for the sale. Who`s my broker? Do I have to enter into an agency agreement? Is VAT on the super-yacht paid? Or is VAT accounted for? Has VAT been recovered? Surround yourself with people who know what they`re doing and have a good balance sheet, including: surveyor, lawyer, super-yacht manager, broker and vat/accountant advisor. Make sure your contract, specific terms and conditions are all available in writing. The most common form of the agreement for the sale and purchase of used super yachts is the Mediterranean Yacht Brokers Association (MYBA) form of sale and purchase, known as the MYBA Memorandum of Agreement (MYBA MOA). Additional conditions or changes to standard conditions must be recorded (for example.B. transfer of charters currently reserved for the season or works to be removed). It is important that oral agreements be recorded in writing. You should think carefully before signing the staff guarantee that subscribes to the company`s sales or purchase obligations.

This can affect the ownership structure you have carefully set up and cause tax law problems when selling. Are there any mortgages, fees or other charges recorded against the super-yacht (because they must be unloaded upon delivery)? This is a question that any prudent buyer should ask, and if you sell, you must make sure that you can provide the transcript of the recording that shows that your superyacht is not contaminated. The process can become more complicated if he registers mortgages against the super yacht. What should I do if the buyer changes the flag? Should delivery take place in international waters or within the EU? Have all the special interests of the agreement been declared? What should I do if I sell charters after closing? Необходим аккаунт? Зарегистрируйтесь сейчас! Where do I feel comfortable with bail? Do I want a personal guarantee from the ultimate economic beneficiary or a mother guarantee from the sales company? What is the process? Signing of the agreement, based on maritime investigations and investigations. Pay down payment (the standard payment is 10% of the purchase price, but another amount could be negotiated). Always first test the sea and, if you are satisfied, go to the state inspection carried out by a marine surveyor.