The Watercraft Bill of Sale is an essential legal document used in the Philippines for documenting the transfer of ownership of various types of watercraft. It serves as a crucial instrument in maritime transactions, required by the Maritime Industry Authority (MARINA) and recognized under Philippine law. This document is necessary when selling or purchasing any type of vessel, from small recreational boats to commercial watercraft, and must comply with the Domestic Shipping Development Act of 2004 and related maritime regulations. The document includes comprehensive details about the vessel, parties involved, purchase price, warranties, and specific conditions of sale. It also serves as official documentation for vessel registration transfer and provides evidence of ownership for insurance and financing purposes. Given the Philippines' archipelagic nature and the importance of maritime transport, this document plays a vital role in maintaining proper records of vessel ownership and ensuring legal compliance in maritime transactions.
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1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and contact information
2. Background: Brief context about the transaction and the vessel being sold
3. Definitions: Key terms used in the document including 'Vessel', 'Purchase Price', 'Closing Date', etc.
4. Vessel Details: Comprehensive description of the watercraft including make, model, year, hull identification number, registration number, and specifications
5. Purchase Price: The agreed sale price, payment terms, and method of payment
6. Seller's Representations: Seller's warranties regarding vessel ownership, condition, liens, and encumbrances
7. Transfer of Title: Terms of ownership transfer and responsibility for registration
8. Closing and Delivery: Details of when and where the vessel will be delivered and closing procedures
9. Risk and Insurance: Transfer of risk and insurance requirements during the transfer process
10. Governing Law: Specification that Philippine law governs the agreement
11. Execution: Signature blocks for all parties and witnesses
1. Condition of Sale: Used when selling 'as-is' or with specific conditions attached to the sale
2. Equipment and Accessories: Required when the sale includes specific equipment or accessories beyond the basic vessel
3. Maritime Liens Declaration: Needed for larger vessels or when there's a history of commercial use
4. Broker's Commission: Include when a broker is involved in the transaction
5. Training and Handover: Used when the seller agrees to provide operational training or extended handover support
6. Maintenance Records: Include when transferring detailed maintenance history or ongoing service contracts
7. Foreign Registry Provisions: Required when the vessel is or was registered in foreign jurisdiction
1. Schedule A - Vessel Specifications: Detailed technical specifications of the vessel including dimensions, engine details, and equipment list
2. Schedule B - Inventory List: Comprehensive list of all equipment, tools, and accessories included in the sale
3. Schedule C - Condition Report: Recent survey or condition report of the vessel
4. Schedule D - Registration Documents: Copies of current registration, radio license, and other official documents
5. Schedule E - Maintenance Records: History of maintenance, repairs, and upgrades
6. Appendix 1 - Transfer Forms: Required MARINA and Coast Guard transfer documentation
7. Appendix 2 - Payment Schedule: If payment is to be made in installments or involves special arrangements
Relevant legal definitions
Clauses
Relevant Industries
Maritime Transport
Fishing Industry
Tourism and Hospitality
Recreational Boating
Commercial Shipping
Marine Construction
Offshore Services
Aquaculture
Maritime Security
Marine Tourism
Boat Manufacturing
Marine Insurance
Relevant Teams
Legal
Maritime Operations
Compliance
Documentation
Marine Safety
Vessel Registration
Risk Management
Marine Insurance
Fleet Operations
Marine Services
Contract Administration
Relevant Roles
Maritime Lawyer
Marine Surveyor
Vessel Registration Officer
Maritime Administrator
Ship Broker
Marine Insurance Agent
Compliance Officer
Marine Operations Manager
Port Captain
Fleet Manager
Maritime Documentation Specialist
Vessel Owner
Maritime Safety Officer
Marine Transaction Coordinator
Maritime Legal Assistant
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