There are a couple of options available when purchasing a yacht in Germany, namely whether it is a production or custom yacht. With production yachts, they are generally the fastest yachts with delivery. However, with production yachts, there is very little room to make the vessel “your own” and personalise the yacht.
Custom and semi-custom yachts can be personalised and constructed to fit the purchaser’s requirements and desires; however, they are also the riskiest type of new-built yacht. It is crucial to have legal advice when pursuing this route.
Greater commitment to overseeing the building of the yacht is required for custom yachts. That may involve close collaboration and regular visits to the yard during the construction of the yacht. Reviewing the contracts involved is absolutely necessary to ensure legal solutions are available in the event of delay or defects.
Our lawyers will examine and draft the contracts involved in such matters to ensure that the yacht fulfils the demands of our clients. By allowing our lawyers to draft such contracts, we can ensure that your interests are central concerning payment structures, the specifications of the yacht itself, that there are consequences for failure to meet performance criteria, security and warranties involved, and that you are fully aware of the subcontracting situation involved with such a custom-built yacht.
Purchasing a yacht is a substantial undertaking, and with the right legal support in your corner, you can be assured that it will be carried out in the correct manner.