Watercraft Bill Of Sale Template for Saudi Arabia

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Key Requirements PROMPT example:

Watercraft Bill Of Sale

"I need a Watercraft Bill of Sale for the transfer of a commercial fishing vessel from Al Bahri Maritime LLC to Eastern Fleet Operations Co., with vessel delivery scheduled for March 15, 2025, at Dammam Port, including provisions for crew training and maintenance record transfer."

Document background
The Watercraft Bill of Sale is an essential document in Saudi Arabian maritime transactions, used whenever ownership of a vessel needs to be transferred. This document is required by Saudi maritime authorities and port officials to legally document vessel ownership changes, whether for commercial or private vessels. It must comply with the Kingdom's Maritime Law (Royal Decree No. M/33) and various port authority regulations. The document includes critical information such as vessel specifications, party details, purchase terms, and necessary declarations regarding vessel condition and existing liens. It serves multiple purposes: proving ownership, enabling vessel registration transfer, satisfying maritime authority requirements, and protecting both buyer's and seller's interests. The Bill of Sale must be properly executed according to Saudi legal requirements and may need to be notarized or authenticated by relevant authorities.
Suggested Sections

1. Parties: Identification of the Seller and Buyer, including full legal names, addresses, and official identification numbers as per Saudi regulations

2. Background: Brief context of the sale transaction and confirmation of the Seller's ownership rights

3. Definitions: Key terms used in the document, including technical maritime terms and legal definitions

4. Vessel Details: Comprehensive description of the watercraft including make, model, year, hull identification number, registration number, and specifications

5. Purchase Price: Agreed sale price, payment terms, and method of payment in compliance with Saudi financial regulations

6. Seller's Representations: Declarations regarding vessel ownership, absence of liens, and compliance with maritime regulations

7. Transfer of Title: Clear statement of ownership transfer and timing of the transfer

8. Delivery and Acceptance: Details of vessel handover, including location, date, and acceptance conditions

9. Governing Law: Specification of Saudi Arabian law as the governing law and jurisdiction

10. Execution: Signature blocks and attestation requirements as per Saudi legal requirements

Optional Sections

1. Condition of Vessel: Detailed description of vessel condition and any known defects - used when selling used vessels

2. Maritime Liens: Statement regarding existing or cleared maritime liens - included when there is history of liens

3. Broker Details: Information about any broker involved in the transaction - included when the sale is broker-mediated

4. VAT Declaration: Details of VAT application and calculations - required for commercial sales or when VAT is applicable

5. Foreign Owner Provisions: Additional provisions required when either party is a foreign entity - used in international sales

6. Insurance Transfer: Details of insurance policy transfer or termination - included when existing insurance is relevant

Suggested Schedules

1. Schedule 1 - Vessel Specifications: Detailed technical specifications of the vessel including dimensions, engine details, and equipment list

2. Schedule 2 - Vessel Documentation: Copies of registration certificates, previous bills of sale, and other relevant documentation

3. Schedule 3 - Inventory List: Detailed list of all equipment, accessories, and items included in the sale

4. Appendix A - Vessel Survey Report: Recent survey report if available, particularly for used vessels

5. Appendix B - Vessel Photographs: Recent photographs of the vessel for identification purposes

6. Appendix C - Maintenance Records: History of maintenance and repairs, particularly important for used vessels

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Maritime Transport

Shipping

Recreational Boating

Commercial Fishing

Marine Tourism

Vessel Trading

Maritime Services

Port Operations

Marine Insurance

Naval Construction

Relevant Teams

Legal

Maritime Operations

Compliance

Documentation

Risk Management

Commercial

Finance

Insurance

Port Operations

Fleet Management

Relevant Roles

Maritime Lawyer

Fleet Manager

Vessel Broker

Port Operations Manager

Maritime Insurance Agent

Compliance Officer

Legal Counsel

Marine Surveyor

Commercial Director

Risk Manager

Documentation Officer

Maritime Operations Manager

Vessel Registration Officer

Marine Finance Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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