Notice is given to Navigare about the takeover. Navigare then blocks the following seasons for bookings and confirms that the yacht is planned for takeover. The takeover follows the Takeover Protocol, which is part of the contract and outlines the procedure in terms of service and inspection. If a mortgage is connected to the yacht, the mortgage deletion must be signed by the owner before the takeover can proceed.
Yes. The owner is allowed to have a surveyor conduct a survey at the time of takeover. This cost is on behalf of the owner.
No, after the 6th or 7th season (depending on the program), the contract ends. The yacht has a final takeover service, which takes place at the time of signing. Navigare is obligated to return the yacht to the owner in an acceptable condition, clearly defined and strictly regulated by the takeover protocol. All yachts leave the fleet fully functioning, with consideration to normal wear and tear from charter.
If the yacht is taken over by a private individual, VAT will be due at the time of takeover if the yacht is operating in a destination where VAT is due. At the moment, VAT is applicable in all destinations except for the BVI.
It is possible, on a yearly basis, for the client to end the contract. Notice must be given well in advance to Navigare in accordance with the terms of the charter management contract.
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