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It's easy to be seduced by slick marketing - and rely on
goodwill - when buying and owning a superyacht. It's also
easy to think that, just because you're spending large
amounts of money, your expectations will be fulfilled. Yet,
as with any large transaction, taking the right legal advice
from day one is a modest and astute investment.
Peculiarities of Marine Law
Whereas the sale, purchase and management of land-based assets often only requires the law of one jurisdiction to be considered, marine law is different. The laws of the Flag State and Port State must both be considered. Agreements may also bring in the laws of more countries. Finding the right lawyers can be tricky, and coordinating their advice can be harder still.
Under arrangements approved by the Law Society of England & Wales, matrixLloyd™ is able to arrange for clients to receive the right advice - with matrixLloyd™'s consultants providing the firsthand superyacht experience that's often missing. And, as we know what lawyers charge for other shipping matters, owners can reduce their overall legal spend dramatically. Put simply, there's no need to spend GBP 500+ per hour for legal advice.
Regulatory Reviews
Yachting is now highly (and arguably, overly) regulated.
Non-compliances expose the owner, manager Captain and crewmembers to criminal convictions, the withdrawal of professional certificates of competence, loss of insurance cover, detention of the yacht with subsequent loss of charter hire, and increased depreciation.
Let matrixLloyd™ look at what's necessary, and what' not, to make sure that you're doing what you should be doing, either on a one-off basis or as part of an ongoing service package.
For safety and security management, please refer to yachtCare™.
Peculiarities of Marine Law
Whereas the sale, purchase and management of land-based assets often only requires the law of one jurisdiction to be considered, marine law is different. The laws of the Flag State and Port State must both be considered. Agreements may also bring in the laws of more countries. Finding the right lawyers can be tricky, and coordinating their advice can be harder still.
Under arrangements approved by the Law Society of England & Wales, matrixLloyd™ is able to arrange for clients to receive the right advice - with matrixLloyd™'s consultants providing the firsthand superyacht experience that's often missing. And, as we know what lawyers charge for other shipping matters, owners can reduce their overall legal spend dramatically. Put simply, there's no need to spend GBP 500+ per hour for legal advice.
Regulatory Reviews
Yachting is now highly (and arguably, overly) regulated.
Non-compliances expose the owner, manager Captain and crewmembers to criminal convictions, the withdrawal of professional certificates of competence, loss of insurance cover, detention of the yacht with subsequent loss of charter hire, and increased depreciation.
Let matrixLloyd™ look at what's necessary, and what' not, to make sure that you're doing what you should be doing, either on a one-off basis or as part of an ongoing service package.
For safety and security management, please refer to yachtCare™.
It's all in the detail.
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all the photographs on this page were taken by matrixLloyd™ staff members