During the next step of the process, you need to fill out our expression of interest form to get a share of your desired boat. For more information on the use of the boat, please click here This agreement is suitable for setting up a boat participation program, clubs or unions in which two or more people share ownership (partial ownership) of a boat. This special contract is designed to be used in groups sharing a smaller boat, for example.B. day boat, canoe, coast or small speedboat. For the purposes of this Agreement, a “small vessel” is a vessel without accommodation on board. This agreement applies specifically to smaller boats and does not address problems that are inappropriate for sharing a smaller boat, but that could be useful for sharing a larger boat. Although the initial purchase price of a speedboat or racing boat can be quite high, the cost is likely still lower than that of a larger boat and the operating costs are usually much lower, as mooring fees are not necessary or cheaper. Therefore, the allocation of costs among participants requires less detailed provisions. Three options are available to manage your yacht syndikat. The first is where you pay for a management team to manage the entire company.
The second, the do-it-yourself approach or the third a hybrid of the two. There is a lot of thinking when considering the best approach; the size of your vessel; the cost of a management team; your availability over time; and most importantly, your own experience and the control you are willing to give up. All of these factors and more will play an important role in your decision-making process. Either way, it`s fair to say that good onboard legal advice should be at the top of the list of thoughts to guide you through your options. I believe the starting point for deciding which path you choose is to consider your experience both on and off the water. Prestige Boat Syndicates will supervise all syndication boats. We take care of your fortune and offer a number of services to keep your boat in excellent condition. All unionized boats are operated under a Sydney management program and a “Walk on, Walk Off” service. Sometimes buying a boat is better shared and partnerships and unions can offer a great, inexpensive and time-effective solution….