The guide to Superyacht law - Fourth edition

• Jurisdiction, forum and technical disputes: You need to know the law that will govern disputes and whether you will go to court or rely on arbitration • Delivery and VAT: Where will delivery take place and what VAT structure should be set up? As you will see within our section on tax, this should not be overlooked or viewed lightly • Post-delivery warranties: What is the period? What will it cover? Is there an extended warranty where an item is fixed during the warranty period? Consideration should be given as to whether the buyer should have limited rights when it comes to latent defects • Termination: If it all goes wrong and the contract is terminated, what happens? If the builder terminates, what are the damages? If the buyer terminates and has the superyacht taken away, you need to make sure that they have access to all the design work, and all the class and flags files to continue the build. At this point, do not forget that during the build, class and flag are contracted to the builder and their files are closed to the buyer • Commission: While not mentioned in the build contract, if the buyer is introduced to the builder by an intermediary, a commission may well be payable by the builder

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