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 hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship, or the sale of goods through pretending that they sell, or power through making believe you are powerful, or through a packed jury or caucus, bribery and “repeating” votes, or wealth by fraud.”
—Ralph Waldo Emerson (1803–1882)
“O, let us have him, for his silver hairs
Will purchase us a good opinion,
And buy men’s voices to commend our deeds.”
—William Shakespeare (1564–1616)
“What do we plant when we plant the tree?
We plant the ship that will cross the sea,
We plant the mast to carry the sails,
We plant the planks to withstand the gales—
The keel, the keelson, and beam and knee—
We plant the ship when we plant the tree.”
—Henry Abbey (1842–1911)