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A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: to sell goods, exchange, give, or mortgage objects.
To reduce the number of disputes and smoothen the sale and purchase procedure, normally the ship-owner (seller) and the buyer will appoint brokers as middlemen to handle the transaction. There are three main stages for the sale and purchase of a ship which include: (1) the negotiation and contract stage, (2) the inspections stage, and (3) the ...
Bill Schock built his first boat at age 13, a Skimmer sailing dinghy constructed in the family garage in Hollywood, California. After his time as a crew chief in the military in the Second World War, he returned home to live in a small beach house in Newport Beach and started a boat repair business there. Among his early customers was an ...
The nationality allows a ship to travel internationally as it is proof of ownership of the vessel. [1] International law requires that every ship be registered in a country, called its flag state. [2] A ship is subject to the law of its flag state. [1] It is usual to say that the ship sails under the flag of the country of registration.
In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer, and the charterer hires its own master and crew. The bare-boat charterer is sometimes called a "disponent owner". The giving up of possession of the ship by the owner is the defining characteristic of a bareboat or demise charter.
Charter party is a contract of carriage of cargo in the case of employment of a (charter boat). It means that the charter party will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference ...
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