Myba Memorandum of Agreement Pdf

Are there any special conditions or articles I would like to leave on the superyacht (for example. B the transfer of future charters or certain items that were repaired before completion)? Is it a pleasure to do superyacht and record privately, or do I want to charter the superyacht? Do I want a personal guarantee from the final economic beneficiary or a parent guarantee from the sales company? Will the superyacht be financed? Then, as a rule, the consent of the bank is required for the sale. MYBA reserves the right at any time to verify that the Subscribing Company is still complying with the Application Requirements and the Subscription Terms of Use, and to this end, the Subscriber Company undertakes to promptly provide the Company, upon request, with such information as the Company may reasonably request. If MYBA determines that it does not comply, MYBA reserves the right to withdraw the use of the E-Contract Service in the event of non-compliance. Any person who uses the MYBA electronic charter contract form agrees to comply with these Terms of Use as amended from time to time. These Terms of Use must be printed, dated and signed and returned with your application document as confirmation of your intention to comply with them at all times. MYBA ELECTRONIC CONTRACT TERMS OF USE (Click to download) Your application documents must be sent to the MYBA Administrator on the info@myba.net Once the application is received, as part of the process, the name and fact of the applicant`s application will be published [on the MyBA public website, www.myba-association.com, which is fully accessible to the public. – Note that this will be available once the website is ready] Who is my broker? Do I have to conclude an agency contract? Surround yourself with people who know what they are doing and have a good track record, including: surveyor, lawyer, superyacht manager, broker, and VAT/accountant consultant. Make sure your contract and its specific terms are available in writing. The most common form of agreement on the sale and purchase of second-hand superyachts is the Mediterranean Yacht Brokers Association (MYBA) form of purchase, known as the MYBA Memorandum of Understanding (MYBA MOA). Additional conditions or changes to the standard conditions must be recorded (e.B.B. the transfer of charters that are currently reserved for the season or the works are deleted).

It is important that verbal agreements are recorded in writing. You need to think carefully before signing the guarantee of the employee who signs the commitments to sell or buy the company. This can affect the ownership structure you have carefully set up and cause tax problems when selling. The rest of this document is only available i-law.com online subscribers. If you are already a subscriber, please enter your details below to register. How does the process work? Signature of the agreement on the basis of maritime investigations and investigations. Deposit (the standard payment is 10% of the purchase price, but another amount could be negotiated). Surround yourself with people who know what they are doing and have a good track record, including: surveyor, lawyer, superyacht manager, broker, and VAT consultant/accountant. Make sure that your form of agreement, special conditions and list of documents are all written.

The most common form of agreement for the sale and purchase of second-hand superyachts is the Mediterranean Yacht Brokers Association (MYBA) Sale and Purchase Form, known as the MYBA Memorandum of Understanding (MYBA MOA). Any additional conditions or changes to the standard conditions must be recorded (e.g.B. transfer of charters currently booked for the season or artwork to be removed). It is important that verbal agreements are recorded in writing. You must think carefully before signing a personal guarantee that assumes the obligations of the selling or buying company. This can affect the ownership structure you have carefully set up and lead to tax issues when selling. When using the MYBA electronic charter contract, the user is obliged to ensure that only current MYBA charter contracts with a unique serial number on pages 1 and 2 are used for all transactions. Photocopies or computer-generated copies should not be accepted as they may contain changes and/or errors that may not be immediately apparent. Who is my broker? Do I have to enter into a central office contract? – A signed and dated copy of MYBA`s E-Conditions/Privacy Policy, please also initialize each page. (click here to download) Are all the legally required documents of the superyacht in order? g) provide false, false or misleading information to MYBA with regard to the individual user and / or subscriber; or – A signed and dated copy of the E-Contract Service Terms of Use must be returned with your application document as confirmation of your intention to comply with it at all times, please also initialize each page.

(click here to download) If a subscribing company undergoes a change of control and/or a significant change in the identity of its individual users, the subscriber must notify MYBA immediately. MYBA may then, in its sole discretion, either (i) require the Subscriber to resubmit a request to remain as a Subscriber, which will be judged on the basis of the application requirements then in effect for new Subscribers; (ii) allow the Subscriber to continue the Subscription with the Modifications; or (iii) suspend the subscription until it has been investigated. Failure to notify MYBA may result in immediate suspension of access. Will the superyacht be paid VAT? Or is VAT taken into account? Has VAT been recovered? • To whom should the deposit be paid? It is common for the broker or the seller`s lawyer to stick to it. However, you can economically agree that it will be owned by the buyer`s broker or lawyer. Any party holding a deposit should be an established company and probably need up-to-date customer information. If you can`t agree on who holds the deposit, you can ask a bank to act as a stakeholder. (b) An individual user/subscriber who grants or permits unauthorized users to access the electronic contract service; If MYBA receives complaints from a party regarding unethical conduct and/or non-compliance with industry best practices and/or misuse of the Agreement and/or the Electronic Contract Service by an applicant, MYBA may investigate such complaint, after which MYBA may, in its sole discretion, seek the opinion of the Applicant and/or in relation to the Applicant or reject the request. (a) an applicant who contacts yacht owners or masters directly to arrange the charter directly, unless such direct contact has been previously agreed with the Central Unit; This subscription can be renewed if all 25 contracts are used before the end of the 12-month period. Will it be a privately registered amusement superyacht, or would I like to charter the superyacht? Reproduction of the MYBA electronic charter contract is prohibited, unless MYBA has pre-authorized it. It is the duty of all individual subscribers/users of the Service who are responsible for signing MYBA electronic charter contracts to understand and fully comply with the terms of the Agreement.

If you believe that your participation in a dispute resolution process is likely to discredit you and therefore myba, or may tend to discredit you, please indicate the fact and circumstances of the involvement, and this should include details of a judgment or arbitral award rendered against you that you have not complied with. The MYBA Charter Agreement is provided by MYBA for purchase and electronic use by established, genuine and reputable yacht brokers for a fee and compliance with the requirements of the Subscription Application and continued compliance with the Terms of Use of the Subscription. This document defines the criteria for applying as an individual subscriber/end-user of the MYBA electronic contract. All criteria must be met in the specified manner, otherwise the application will be rejected. Once granted, the subscription may be lost if the subscription criteria are not met. The electronic contract can only be used by subscribing companies or approved end users. Use by another person is prohibited and constitutes a violation of copyright or electronic contract. In addition, the conditions of the subscription to the electronic contract are automatically not applied in their entirety if they are thus abused.

The applicant must understand that MYBA strives to maintain the reputation and integrity of the superyacht industry and that its requirements are determined by the imperative need to maintain these standards […].

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