The Boat Bill of Sale Form is a crucial legal document used in Indian maritime transactions for documenting the transfer of vessel ownership. This document is essential for both private and commercial vessel sales in India, requiring compliance with the Merchant Shipping Act, 1958, the Indian Registration Act, 1908, and various state-specific maritime regulations. The form serves multiple purposes: it proves ownership transfer, enables vessel registration updates, facilitates insurance changes, and provides evidence for tax and regulatory compliance. When using a Boat Bill of Sale Form, parties must ensure all technical specifications, financial terms, and legal declarations are accurately documented to meet Indian maritime authority requirements and protect both buyer and seller interests.
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1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and contact details
2. Background: Brief context of the sale transaction and confirmation of vessel ownership
3. Definitions: Key terms used in the document including 'Vessel', 'Purchase Price', 'Closing Date', etc.
4. Vessel Details: Complete description of the boat including make, model, year, registration number, hull identification number (HIN), and engine details
5. Purchase Price: Agreed sale price, payment terms, and method of payment
6. Seller's Representations: Warranties about vessel ownership, liens, encumbrances, and condition
7. Transfer of Title: Clear statement of ownership transfer and timing
8. Delivery and Acceptance: Details of when and where the vessel will be delivered and accepted
9. Registration and Documentation: Requirements for transfer of registration and necessary documentation
10. Governing Law: Specification that Indian law governs the agreement and relevant jurisdiction
11. Execution: Signature block for all parties and witnesses
1. Equipment and Accessories: Detailed list of included equipment and accessories when vessel is sold with additional items
2. Condition Report: Detailed description of vessel condition when selling used boats or where specific condition issues need documentation
3. Insurance Requirements: Specific insurance obligations during transfer period for high-value vessels
4. Training and Handover: Terms for operational training or handover procedures for complex vessels
5. Broker Details: Broker information and commission details when sale is through a broker
6. Mortgage or Financing: Details of any continuing financial obligations or new financing arrangements
7. Tax Declarations: Specific tax-related declarations when required by state authorities
8. International Transfer: Additional requirements for international sales including export/import provisions
1. Schedule A - Vessel Specifications: Detailed technical specifications of the vessel including dimensions, capacity, and performance details
2. Schedule B - Inventory List: Comprehensive list of all equipment, tools, and accessories included in the sale
3. Schedule C - Condition Report: Detailed survey or inspection report of the vessel's condition
4. Schedule D - Registration Documents: Copies of current registration certificates and documentation
5. Schedule E - Maintenance Records: History of maintenance, repairs, and modifications
6. Schedule F - Insurance History: Details of previous insurance claims and current insurance status
7. Schedule G - Photographs: Recent photographs of the vessel documenting its current condition
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