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:
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—Ralph Waldo Emerson (1803–1882)
“How happy a thing were a wedding,
And a bedding,
If a man might purchase a wife
For a twelvemonth and a day;”
—Thomas Flatman (1637–1688)
“A ship is a bit of terra firma cut off from the main; it is a state in itself; and the captain is its king.”
—Herman Melville (1819–1891)