A boat sale agreement is a legal document that transfers ownership of a boat from one person to another. The agreement typically includes the boat’s specifications, sales price, payment terms, delivery date, and warranties. It is important to read the agreement carefully before signing to understand the terms and conditions of the sale.
BOAT SALE AGREEMENT
THIS AGREEMENT is made on [Insert Date],
BETWEEN
- [Seller’s Full Name], a company incorporated and registered in [Insert Country of Incorporation] with company number [Insert Company Number] and having its registered office at [Insert Registered Address] (the “Seller”),
AND
- [Buyer’sName], an invidiual at [Insert Registered Address] (the “Buyer”).
BACKGROUND
This Agreement is for the sale of an existing boat from the Seller to the Buyer. It sets forth the terms for the sale, payment, and delivery of the boat, ensuring a clear understanding and agreement between both parties.
BOAT AND ENGINE DESCRIPTION AND SPECIFICATIONS
1- The Seller warrants that the boat and engine meet the following specifications:
Brand of boat: [Brand]
Model of boat: [Model]
Year of boat: [Year]
Hull Identification Number (HIN): [HIN]
Brand of engine: [Brand]
Model of engine: [Model]
Power of engine: [Power]
2- If the boat and engine are found not to meet these specifications, the Seller will either refund the purchase price to the Buyer or repair the boat.
3- The Seller agrees to sell, and the Buyer agrees to buy the boat described as [Model and Design], with the Hull Identification Number (HIN) [Insert HIN] and detailed engine specifications as provided in the accompanying documentation.
PAYMENT TERMS
4- The total contract price for the boat is set at $[Total Payment Amount]. This amount encompasses all manufacturing costs, standard features, and any customizations requested by the Buyer as outlined in the Agreement.
5- Upon the execution of this Agreement, the Buyer is required to make an payment of $[Total Payment Amount].
6- If the Buyer fails to make timely payments as outlined above, the Seller is entitled to charge interest on the overdue amount. This interest will be calculated at a rate of [X%], accruing from the payment due date until the date of actual payment.
7- The Seller reserves the right to cease the delivery of the boat if payment is not received within [Specify Number of Days] after the due date.
8- In the event of a payment default by the Buyer, the Seller will issue a written notice, granting a grace period of [Specify Number of Days] for the Buyer to remedy the default.
DELIVERY AND INSPECTION
9- The boat will be delivered to the Buyer on [delivery date].
10- The Sellers will prepare the Boat for delivery at their premises on the agreed Delivery Date. The Boat will be made available either in the water or on land, as mutually agreed upon with the Purchaser.
11- If the delivery is to be made at a location away from the Sellers’ premises, the delivery method and location will be agreed upon in advance. Any extra costs associated with this alternative delivery, including transportation and handling, will be the responsibility of the Purchaser.
12- The Delivery Date is provided in good faith. The Sellers will make every reasonable effort to meet this date but cannot guarantee it. Delays caused by delays in transportation, and other factors reasonably beyond the Sellers’ control, will not render the Sellers liable for any resultant delays.
13- Upon delivery, the Sellers and the Purchaser will jointly sign a Protocol of Delivery and Acceptance. From the moment the Protocol is signed, the responsibility and risk for the Boat and all its gear and equipment will transfer to the Purchaser. The Purchaser is then immediately responsible for insuring the Boat.
14- The Purchaser is obligated to take delivery of the Boat immediately upon signing the Protocol of Delivery and Acceptance. Failure to take delivery without a valid reason may result in the Purchaser being liable for reasonable berthing, storage, insurance, maintenance, and handling charges until the Boat is delivered.
15- The Purchaser and the Sellers agree that the Sellers are not responsible for verifying the Purchaser’s competence and experience in operating and navigating the Boat. The Purchaser acknowledges their responsibility to ensure they possess the necessary skills and knowledge for the Boat’s operation.
16- Before accepting and signing the Protocol of Delivery and Acceptance, the Purchaser has the right to inspect the Boat and conduct a sea trial as outlined in the agreed [Inspection and Sea Trial Procedure]. This inspection and sea trial must be completed satisfactorily before the Purchaser signs the Protocol.
17- The sea trial will be conducted under conditions agreed upon by both parties and will be of sufficient duration to assess the Boat’s performance adequately. The Sellers will cover the cost of fuel and other consumables used during the sea trial.
DEFECTS AND LIABILITIES POST-DELIVERY
18- In the event that any defects in the boat become apparent after delivery, the Seller is obliged to repair or replace the defective parts, provided that the defects are reported by the Buyer within [Specify Time Period, e.g., 30 days] of the delivery date.
19- This obligation is limited to defects arising from the transportation process and does not cover damages resulting from misuse, lack of maintenance, or normal wear and tear.
20- The Seller will undertake necessary repairs or replacements at their own cost, excluding any transportation costs to and from the repair facility, which shall be the responsibility of the Buyer.
21- The Buyer must notify the Seller in writing of any such defects within the specified time period. The notification must include a detailed description of the issue and, where possible, photographic evidence.
22- The Seller’s liability under this clause is limited to the repair or replacement of defective parts and does not extend to indirect or consequential losses or damages.
23- This clause does not affect the statutory rights of the Buyer under the applicable consumer protection laws.
WARRANTIES AND CONDITIONS
24- The Seller warrants the boat as follows:
a) The boat is covered by a [warranty period] warranty for [warranty coverage].
b) The engine is covered by a [warranty period] warranty for [warranty coverage].
25- The Seller will repair any problem covered by the warranty.
GOVERNING LAW AND JURISDICTION
26- This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of [Specify Jurisdiction, e.g., England and Wales].
27- Each Party irrevocably agrees that the courts of [Specify Jurisdiction, e.g., England and Wales] shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
GENERAL PROVISIONS
28- This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, both written and oral, relating to its subject matter.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Signatures:
Seller’s Authorized Representative: ___________________________
Date: _______________
Buyer: ___________________________
Date: _______________