Inspections Stage
After the forming of contract, it will enter to the inspection stage. There are two major parts in the inspections stage which include the documents inspection and the physical inspection of the ship afloat. For the document inspection, the buyer will check the ship's class records, certificate records. The inspection of records will reveal the history of ship's maintenance and compliance with the requirement of class. Furthermore, the buyer also should check the mortgages records and the maritime lien records to prevent any damages or loss subject to the legal issue of the ship which occurred before the delivery of the ship. For the physical inspection, it usually checks the surface of the ship and its logbook, unless others agreed.
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