Buying your boat


Mooring Ashore. The standard Terms of Business for the industry are used for services such as repairs, and other business transactions, but you should use a separate contract when buying a boat. (Other specialist contracts exist, such as a Listing Agreement for selling a boat through a brokerage.)


PAYING IN STAGES


Where the contract is between you and the builder, it is normal to pay the builder in stages, in order to fund the build of the boat. Under the standard Construction Agreement, the ownership of the boat, and all materials and equipment purchased specifically for its construction, become the customer’s property upon payment of the first stage payment.


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However, the builder will be entitled to have a claim over the boat, and be entitled to retain possession of the boat and any materials or equipment purchased for the construction, until they have received full payment of all the sums due to them under the agreement.


READING THE CONTRACT


You are always advised to read any contracts and agreements thoroughly before signing up to anything. Make particularly sure that you are happy with the boat specifi cation that will be attached to the contract, and ensure that any variations to the original specifi cation are recorded in writing and signed by yourselves and the builder. If you are concerned about any contract issues you should check with your solicitor.


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