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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 and brief description of the vessel
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the vessel, including vessel details and warranties of ownership
5. Purchase Price: Agreement on price, currency, and payment terms including deposit arrangements
6. Inspections and Condition: Vessel inspection rights, current condition statements, and underwater inspection provisions
7. Time and Place of Delivery: Agreed delivery location, expected delivery date, and notice requirements
8. Delivery and Documentation: Process for physical and documentary delivery, including required certificates and documents
9. Vessel Registration: Requirements for deregistration from current registry and registration under new flag
10. Representations and Warranties: Seller's and Buyer's representations regarding vessel condition, authority to sell/buy, and other key matters
11. Title and Risk: Transfer of title, risks, and responsibilities
12. Notices: Communication requirements and contact details for formal notices
13. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction for disputes
14. Entire Agreement: Standard boilerplate confirming the agreement represents the entire understanding between parties
1. Vessel Modifications: Required when specific modifications must be made before delivery
2. Mortgage Release: Include when the vessel has existing mortgages that need to be discharged
3. Crew Arrangements: Needed when addressing existing crew contracts or transfer of crew
4. Tax Provisions: Detailed tax arrangements when complex international tax implications exist
5. Environmental Compliance: Special provisions for environmental requirements, particularly for older vessels
6. Sanctions Compliance: When dealing with international parties subject to sanctions regulations
7. Arbitration: Alternative dispute resolution provisions if preferred over court jurisdiction
8. Assignment Rights: When either party may need to assign their rights under the agreement
9. Force Majeure: Detailed force majeure provisions for high-risk regions or special circumstances
1. Schedule 1 - Vessel Specifications: Detailed technical specifications of the vessel
2. Schedule 2 - Vessel Certificates: List of all certificates to be delivered with the vessel
3. Schedule 3 - Protocol of Delivery and Acceptance: Standard form for documenting the physical transfer
4. Schedule 4 - List of Excluded Items: Items not included in the sale
5. Schedule 5 - Form of Bill of Sale: Standard form bill of sale complying with Nigerian law
6. Schedule 6 - Payment Terms and Banking Details: Detailed payment instructions and bank information
7. Schedule 7 - Required Delivery Documents: Comprehensive list of documents required at closing
8. Appendix A - Vessel Plans and Drawings: Technical drawings and plans of the vessel
9. Appendix B - Survey Reports: Recent survey reports and inspection certificates
10. Appendix C - Classification Records: Vessel's classification history and current status
Maritime Transport
Oil and Gas
Shipping
Logistics
Fishing Industry
International Trade
Marine Tourism
Offshore Services
Port Operations
Maritime Construction
Naval Defense
Legal
Maritime Operations
Commercial
Finance
Compliance
Technical
Risk Management
Marine Engineering
Procurement
Documentation
Vessel Registration
Insurance
Maritime Lawyer
Ship Broker
Marine Surveyor
Vessel Registration Officer
Maritime Operations Manager
Fleet Manager
Commercial Director
Chief Financial Officer
Legal Counsel
Risk Manager
Compliance Officer
Technical Superintendent
Maritime Insurance Manager
Ship Finance Manager
Port Captain
Marine Operations Director
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