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An Introduction to the Yacht Brokerage Industry

  • Maritime and Coastguard Agency
  • Recreational Craft Directive (RCD)
  • The purchase of a vessel
  • Listing the vessel
  • Inspection
  • Negotiation and contract
  • The Law and vessels
  • Merchant shipping legislation and yachts
  • Registration
  • Marine insurance
  • The boat broker and civil law
  • Health and safety for the boat broker
  • Brokerage companies and organisations

Types of Vessels & Technical Descriptions

  • Basics of design
  • Definitions of the principal dimension
  • The shape of hulls
  • Types of vessels
  • Sailing boats
  • Sails and rigging
  • Powerboats
  • Inland waterways vessels
  • Materials and their construction
  • Technical standards

Registration, Title Rules and Regulations

  • The role and function of registration
  • Registration and the certification of the registry
  • Admiralty law and jurisdiction
  • International law
  • Documentation
  • National and International Standards
  • The Royal Yachting Association and Training Qualifications

Yacht Brokers and the Law

  • Legal concepts
  • The law of contract
  • The law of tort (negligence)
  • Sale of goods
  • Trade descriptions
  • Business practice
  • Value Added Tax (VAT)
  • Recreational Craft Directive (RCD)

Business Management

  • Starting a boat brokerage business
  • Chosen product
  • Money
  • Money and cashflow
  • Sources of accounting advice
  • Can you avoid putting your house at risk
  • Risks
  • Advice
  • Mechanics
  • Getting offices and other business premises
  • Obtaining listings, photography, advertising and publicity
  • Go and see the vessel and crawl over it yourself
  • Responsibilities of the different brokerages (listings and selling)
  • Getting the vessel on your books
  • Marketing and selling
  • The sale process
  • Communications, ethics and client relations

The Surveyor in Practice

  • The surveyor
  • Organising and completing the survey
  • Types of surveyors
  • What makes a good surveyor?
  • Types of surveys
  • The role of the surveyor and the sale process
  • The broker/surveyor relationship

Sea Trials

  • The sea trial and the broker
  • The purpose of the sea trial
  • Engine tests
  • Steering tests
  • Other system trials
  • Information recording and reporting

Valuation

  • What is a value?
  • Valuations and the broker
  • Aspects of value
  • Valuation methodology
  • Sources of information
  • Depreciation as a method of determining value
  • Yacht surveyors
  • The valuation report

Insurance

  • The legal side of marine insurance
  • Background to the development of marine insurance
  • A contract of the utmost good faith
  • A contract of indemnity
  • Lloyds and the London market
  • Lloyds brokers and insurance brokers
  • Physical loss of or damage to the property
  • Primary and secondary risks
  • Some common types of insurance
  • The practical side of marine insurance
  • The marine trades policy

Finance

  • Sources of finance available to the broker and the decision criteria
  • Title registration and the influence on options for finance
  • Liens and encumbrances
  • Value Added Tax (VAT)
  • Corporate ownership and the rationale
  • Financial Services Authority (FSA)
  • Client funds, trust, deposits and escrow accounts
  • Miscellaneous finance topics

Yacht Sales

  • Obtaining and running a new agency
  • Managing stock boats
  • Part exchange
  • Finance
  • Exhibiting at Boat Shows

Yacht Charter

  • Introduction to chartering
  • Regulatory regime and commercial registration
  • Market analysis
  • Central agents and brokers
  • Charter agreements
  • Chartering areas and seasons
  • Charter shows
  • Commercial chartering
  • The charter team
  • Managing the charter
  • Problems and resolutions