Sale and purchase of ship is one of the important activities in the shipping industry. It involves a huge amount of money in term of more than hundred millions US dollar and it requires different kinds of profession knowledge like knowledge of particular type of ships and functions, legal knowledge as well as dealing and bargaining knowledge. In order to reduce the disputes and smoothen the sale and purchase procedure, normally the shipowner (seller) and the buyer will appoint brokers to be a middlemen to handle the transaction. There are three main stages for the sale and purchase of a ship which include the negotiation and contract stage, the inspections stage and the completion. From different stages, it includes different important issues and regulations. In following, the article will discuss all these stages of Sale and purchase of ship and all the important elements.
Read more about Sale And Purchase Of Ship: Negotiation and Contract Stage, Inspections Stage, Completion, Protection of Buyer, Procedure To Terminate The Contract, Remedies of Seller, Remedies of Buyer, Duties of The Seller, Duties of The Buyer, Conclusion
Famous quotes containing the words sale, purchase and/or ship:
“I keep thinking that what I need
to do is buy my leg back.
Surely it is for sale somewhere,
poor broken tool, poor ornament.
It might be in a store somewhere beside a lady’s scarf.”
—Anne Sexton (1928–1974)
“We are told to maintain constitutions because they are constitutions, and what is laid down in those constitutions?... Certain great fundamental ideas of right are common to the world, and ... all laws of man’s making which trample on these ideas, are null and void—wrong to obey, right to disobey. The Constitution of the United States recognizes human slavery; and makes the souls of men articles of purchase and of sale.”
—Anna Elizabeth Dickinson (1842–1932)
“Every day brings a ship,
Every ship brings a word;
Well for those who have no fear,
Looking seaward well assured
That the word the vessel brings
Is the word they wish to hear.”
—Ralph Waldo Emerson (1803–1882)