UPD: Project upon motor yacht construction worth 1 million euros
23 August, 2022
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In late 2021, we wrote about legal support of the project upon motor yacht construction by one of the famous European shipyards. In summer 2022, the ordered yacht was successfully delivered to the Client and accepted by the Customer.
Interlegal yachting lawyers carried out comprehensive work upon yacht preparing for operation, which included:
1. Monitoring performance of the shipbuilding contract by the shipyard, arranging time and place of acceptance, as well as convenient location for test drive;
2. Registration of proper authorities for the owner’s representatives upon acceptance,
3. Legal support of acceptance, holding negotiations with the shipyard upon arranging scope and method of eliminating the detected defects;
4. Choosing a flag for the yacht subsequent registration, issuing temporary registration and insurance coverage for the yacht;
5. Control over the yacht export outside the European Union.
Project specification was the need to organize the yacht transportation to her launching place, which included choosing the transport company and entering into appropriate transportation contract. It should be noted that in case of the yacht transportation we recommend including her in the insurance coverage, fixing the route and data about the carrier, in order to secure additional protection of the owner’s property interests.
Interlegal senior associate Valeria Fetysenko and junior lawyer Mariia Ktrichian led the project.
