The Watercraft Bill of Sale is an essential legal instrument in Indonesian maritime commerce and private vessel transactions. This document is required whenever there is a transfer of ownership of any registered watercraft in Indonesian waters, from small recreational boats to commercial vessels. It must comply with Law No. 17 of 2008 on Shipping and related maritime regulations, which govern vessel transactions in Indonesia. The document serves multiple purposes: it provides proof of ownership transfer, details the vessel's specifications and condition, includes warranties from the seller, and forms part of the vessel's official documentation for registration purposes. A properly executed Watercraft Bill of Sale is crucial for maintaining clear title records and ensuring compliance with Indonesian maritime authorities, particularly important in an archipelagic nation where maritime activities are integral to commerce and daily life.
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1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and any relevant registration numbers
2. Background: Brief context of the sale transaction and confirmation that the Seller is the legal owner of the vessel
3. Definitions: Key terms used in the document including 'Vessel', 'Purchase Price', 'Closing Date', etc.
4. Vessel Details: Complete description of the vessel including make, model, year, registration number, HIN (Hull Identification Number), dimensions, and engine details
5. Purchase Price and Payment: Agreed purchase price, payment terms, and method of payment
6. Transfer of Title: Clear statement of ownership transfer from Seller to Buyer
7. Seller's Representations: Seller's warranties regarding vessel ownership, condition, and absence of liens
8. Buyer's Acknowledgments: Buyer's confirmation of vessel inspection and acceptance of condition
9. Execution: Signature blocks for all parties, including witnesses as required under Indonesian law
1. Condition of Vessel: Detailed description of vessel's current condition, to be included when selling used vessels or when specifically requested by either party
2. Marine Survey: Reference to any marine survey conducted, to be included when a professional survey has been performed
3. Existing Liens: Details of any existing liens or encumbrances, to be included if applicable
4. Registration Transfer: Specific provisions regarding the transfer of registration, particularly important for larger vessels
5. Tax Provisions: Specific clauses regarding tax obligations, to be included when tax implications are significant
6. Broker's Information: Details of any broker involved in the transaction, to be included when the sale is broker-mediated
1. Vessel Inventory: Detailed list of all equipment, accessories, and items included in the sale
2. Vessel Photos: Recent photographs of the vessel, including any damage or notable features
3. Maintenance Records: History of vessel maintenance and repairs
4. Registration Documents: Copies of current registration papers and relevant permits
5. Marine Survey Report: If applicable, the full survey report as an attachment
6. Previous Bills of Sale: Documentation showing chain of ownership if relevant
Relevant legal definitions
Clauses
Relevant Industries
Maritime
Shipping
Fishing
Marine Tourism
Marine Transportation
Boat Manufacturing
Maritime Insurance
Maritime Law
Marine Recreation
Port Operations
Offshore Services
Relevant Teams
Legal
Maritime Operations
Compliance
Documentation
Finance
Risk Management
Insurance
Asset Management
Procurement
Administrative Services
Relevant Roles
Maritime Lawyer
Ship Broker
Vessel Registration Officer
Marine Surveyor
Port Captain
Fleet Manager
Marine Insurance Underwriter
Maritime Operations Manager
Compliance Officer
Naval Architect
Maritime Administrator
Vessel Documentation Specialist
Harbor Master
Marine Finance Manager
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