Fillable Purchase And Sale Agreement For Brokerage Vessel printable pdf download

Florida Yacht Brokers Association, Inc.

PURCHASE AND SALE AGREEMENT FOR BROKERAGE VESSEL

BUYER

VESSEL INFORMATION

Buyer’s Name:

Vessel Name:

Make:

SELLER

Model Year:

Seller’s Name:

Length:

Doc or

Reg No.:

Flag:



DATE OF AGREEMENT:

Hull No.:

Offer Date:

Engines:

ACCEPTANCE OF AGREEMENT

Listing Broker:

Offer Expiration Date:

Selling Broker:

ACCEPTANCE/REJECTION OF VESSEL BY BUYER

PURCHASE PRICE

Accept/Reject Date:

Purchase Price:

CLOSING

Less Deposit:

Closing Date:

Less Trade Allowance (see Addendum):

Delivery Location:

Balance:

1. Agreement. Buyer agrees to purchase, and Seller agrees to sell, all right, title and interest to and in the Vessel on the terms and

conditions set forth in this Agreement. Capitalized words used below refer to the corresponding terms in the table above unless

otherwise defined herein. Listing Broker and Selling Broker shall be referred to herein as the “Brokers.” If there is a Trade Allowance,

the terms and conditions of the trade-in will be governed by the attached Trade-In Vessel Addendum.

2. Acceptance of Agreement; Deposit. If either party fails to sign this Agreement and deliver it to the other party on or before the

Offer Expiration Date, this Agreement will be ineffective. Within _______ business days (or three (3) business days if left blank)

following Seller’s execution of this Agreement, Buyer shall pay the Deposit to the Selling Broker’s escrow account, as acknowledged

below, as a deposit toward the Purchase Price to be held subject to the terms of this Agreement. Seller may refuse to permit Buyer to

proceed with the trial run, survey and other inspections of the Vessel until the Deposit is in the Selling Broker’s escrow account.

3. Survey Option; Acceptance of Vessel; Conditions of Survey. Buyer’s obligation to purchase the Vessel is subject to Buyer’s

satisfaction, in Buyer’s sole discretion, with a trial run and survey of the Vessel, if Buyer elects to have the Vessel inspected. In such

event, (a) Buyer will select the surveyor and thereupon the surveyor, and not the Brokers, will be the sole party responsible for any

errors or omissions with respect to the survey, notwithstanding that the Brokers may have provided information to and assisted Buyer

with hiring the surveyor, (b) Buyer shall complete the trial run and survey as soon as practicable, (c) Seller shall pay all running

expenses for, and assume the risks associated with, the trial run, and Buyer shall pay all costs of the survey, including associated costs,

e.g., haul-out, dry dock, and subcontractors’ charges, (d) Buyer and its surveyor will be solely responsible for determining the scope of

the survey and the trial run to assess the Vessel’s conformity with Buyer’s requirements, and (e) Buyer must deliver written notice of

rejection or acceptance of the Vessel to Seller or the Listing Broker on or before the Accept/Reject Date set forth above. Whether or

not Buyer has inspected the Vessel, Buyer will be deemed to have rejected the Vessel if he fails to give timely written notice of its

acceptance. Upon Buyer’s acceptance of the Vessel, Seller will not make any use of the Vessel pending Closing except to move the

Vessel to the Delivery Location. If Buyer rejects or is deemed to reject the Vessel, after all expenses incurred on Buyer’s behalf have

been paid, (i) the Selling Broker shall return the Deposit to Buyer, (ii) this Agreement will terminate, and (iii) the parties and the

Seller’s Initials: __________

Buyer’s Initials: _________

Page 1 of 4

Rev. 9.26.14

This form was prepared for the exclusive use and benefit of the members of the FYBA. The parties and Brokers hereby release the FYBA from any liability for damages resulting

from or related to its use. The FYBA expressly disclaims any and all warranties, including merchantability and fitness for a particular purpose, related to the use of this form.

Purchase And Sale Agreement For Brokerage Vessel

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