This month, you will find hundreds of boats from professional yacht brokers at the YachtWorld Brokers Village stand in the PSP Southampton Boat Show. Search through their listings, download or print the specifications and get great advice from independent experts from ABYA and the BRBA. The Brokers Village overlooks the main marina in Mayflower Park, on Stand E039.
Does the Recreational Craft Directive (RCD) affect me?
The RCD is the EU Directive for recreational boats under 24m. Boats that comply should have a CE plate and a 14-digit Hull Identification Number (HIN) or Craft Identification Number (CIN) stamped on the back. Boats built within the EU since June 1998 should be compliant and have the plate and HIN/CIN already in place. Boats built in the EU before that date need evidence of this and are exempt. Some boats that were in territories/ protectorates/dominion states of EU member states in June 1998 are also exempt. Because of this, it is possible that the “great deal” you spotted on a
US broker’s website becomes more expensive than buying in the EU once you have paid for the shipping, VAT (and import duty if under 12m) and CE compliance. Boats coming into the EU for the first time (whether built before or since June 1998) need to be brought to compliance. Ask your surveyor to advise you on RCD compliance, or visit
www.ydsa.co.uk,
www.rya.org.uk or www.
britishmarine.co.uk.
Is your money safe? Before you leave:
Just before you slip off in to the sunset leaving the world economic crisis in your wake, there are a couple of things you need to arrange:
» If the boat is registered, will your broker/dealer arrange for transfer of the registration to your name?
» If the boat is not registered and you want to register her, will your broker/dealer take care of registration on your behalf? If not, who can he recommend to assist you?
» Consider specific training courses to help you get the most out of your boat. Visit
www.rya.org.uk or www.
marineleisure.co.uk to find RYA registered training providers
The purchase process can be different depending on whether you are buying a new or second-hand boat. The Royal Yachting Association (RYA) is able to provide its members with legal advice on all aspects of buying and selling a boat and discounts on such great publications such as “Buying a second-hand yacht” and “Buying a new yacht”. The BRBA, BMF, RYA and ABYA recently combined to produce a superb “New and Used Boat Buyers Guide” which aims to increase consumer confidence by helping you to ask the right questions when buying a boat. You can get a copy of this guide from the Yacht Brokers Village section of the PSP Southampton Boat Show this month (stand E039) overlooking the main marina.
SepTeMbeR 2010 YACHTWORLD.COM 3
This is a popular question, and one which you should always ask. We put this to both the BRBA and ABYA. They told us that their Codes of Practice require members involved in brokerage to operate dedicated client accounts to handle customer monies. A client account is one in which client monies are held by a company (normally the brokerage), but completely separate from the company’s own current account. Members will be able to show you evidence that their bank confirms it considers the client account to be completely separate from the company’s current account, or that they have an arrangement with a solicitor to hold client monies on behalf of clients during the brokerage transaction.
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