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1. Parties: Identification of the Seller and Buyer, including full legal names, registration details, and addresses
2. Background: Context of the transaction, brief description of the vessel, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement, including technical maritime terms
4. Vessel Description: Detailed description of the vessel including name, type, specifications, registration number, and current flag
5. Purchase Price and Payment Terms: Agreement on purchase price, payment schedule, deposit requirements, and payment methods
6. Inspection and Acceptance: Terms for vessel inspection, sea trials, and acceptance procedures
7. Conditions Precedent: Conditions that must be satisfied before completion of the sale
8. Completion and Transfer of Title: Process and requirements for transferring vessel ownership and registration
9. Seller's Warranties: Warranties regarding vessel ownership, condition, encumbrances, and compliance with regulations
10. Buyer's Warranties: Warranties regarding authority to purchase and compliance with legal requirements
11. Registration and Documentation: Requirements for vessel registration transfer and necessary documentation
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
13. Force Majeure: Provisions for unforeseen circumstances preventing performance
14. Notices: Process for formal communications between parties
15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Vessel Management During Transition: Used when there's a gap between signing and completion, detailing vessel management responsibilities
2. Crew Arrangements: Include when existing crew contracts need to be addressed or transferred
3. Environmental Compliance: Additional section when vessel requires specific environmental upgrades or certifications
4. Financing Provisions: Include when purchase involves third-party financing arrangements
5. Insurance Arrangements: Detailed insurance requirements when specific coverage is needed during transition
6. Tax Provisions: Include when special tax considerations apply to the transaction
7. Broker Provisions: Include when maritime brokers are involved in the transaction
1. Schedule 1 - Vessel Specifications: Detailed technical specifications of the vessel
2. Schedule 2 - Vessel Certificates: List and copies of all current certificates and documentation
3. Schedule 3 - Inventory: Detailed inventory of equipment, spare parts, and belongings included in the sale
4. Schedule 4 - Protocol of Delivery and Acceptance: Form of document to be signed at completion confirming transfer
5. Schedule 5 - Outstanding Liabilities: List of any outstanding liabilities or claims against the vessel
6. Schedule 6 - Required Repairs: List of any repairs or modifications required before completion
7. Appendix A - Form of Bill of Sale: Standard form bill of sale complying with UAE requirements
8. Appendix B - Registration Documents: Forms and documents required for transfer of registration
9. Appendix C - Classification Records: Vessel's classification society records and certificates
Vessel
Purchase Price
Deposit
Completion Date
Delivery Date
Delivery Location
Bill of Sale
Classification Society
Flag State
Port of Registry
Vessel Documents
Technical Specifications
Sea Trial
Survey Report
Completion Notice
Protocol of Delivery and Acceptance
Maritime Liens
Encumbrances
Working Day
Material Adverse Change
Completion Conditions
Due Diligence
Force Majeure Event
Governing Law
Inspection Period
Insurance Policies
Intellectual Property Rights
Inventory
Notice
Outstanding Liabilities
Party/Parties
Purchase Documents
Registration Requirements
Regulatory Authority
Required Certificates
Seller's Warranties
Buyer's Warranties
Spares
Transfer Documents
UAE
Vessel Equipment
Classification Records
Bunkers
Lubricating Oils
Permitted Encumbrances
Registration Costs
Title and Risk
Total Loss
Vessel Certificates
Vessel Plans
Working Systems
Payment Terms
Vessel Inspection
Title Transfer
Warranties and Representations
Due Diligence
Delivery and Acceptance
Registration Requirements
Conditions Precedent
Insurance
Indemnification
Force Majeure
Confidentiality
Notices
Assignment
Governing Law
Dispute Resolution
Termination
Environmental Compliance
Technical Specifications
Documentation Requirements
Maritime Liens
Risk Transfer
Vessel Acceptance
Classification Requirements
Flag State Requirements
Broker Provisions
Tax Provisions
Anti-Money Laundering
Regulatory Compliance
Amendments
Entire Agreement
Severability
Third Party Rights
Costs and Expenses
Further Assurance
Counterparts
Maritime and Shipping
Oil and Gas
Offshore Services
Marine Tourism
Commercial Fishing
Maritime Transport
Port Operations
Marine Construction
Maritime Defense
Yacht and Leisure Vessels
Legal
Maritime Operations
Commercial
Finance
Compliance
Risk Management
Technical Operations
Asset Management
Procurement
Insurance
Documentation
Maritime Lawyer
Fleet Manager
Marine Operations Director
Vessel Purchase Manager
Maritime Commercial Director
Ship Finance Manager
Marine Technical Manager
Compliance Officer
Maritime Risk Manager
Ship Registration Officer
Marine Insurance Manager
Maritime Project Manager
Chief Financial Officer
Legal Counsel
Marine Surveyor
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