The pre-purchase survey is the most detailed inspection as it encompasses such a wide range of areas. These include an out of water inspection, inventories, system checks and sea trials. The detailed reporting process assures that not only the potential buyer can assess the vessel condition, but also potential insurers can prepare a premium quotation before taking the vessel onto risk. Reports include inventories, photos, sea trial results and a list of defects. Systems on the vessel are noted as tested or inspected, their condition given, plus lists of both "failed items"and "recommended actions". It is imperative that the surveyor and potential buyer discuss the scope of supply and the type of tests involved. Non-invasive testing is undertaken, and the costs of the survey generally covered by the potential buyer.
It is very uncommon to buy a vessel or car without taking it for a test run first. Sea trials are a great way of getting a feel for the vessel, test systems and look for defects. Having an experienced surveyor/captain onboard with an impartial view will assist in the process. Potential buyers can sometimes fall in love with a vessel and be somewhat blinded by the problems, pitfalls and expenses that may be just around the corner. An expensive purchase still needs to be looked at practically to ensure the dream does not become a nightmare.
The pre-offer mini survey is a walk thru of a vessel you may be considering buying. This service can be conducted with, or without you present. Without spending much of your hard-earned dollars just yet, this provides an overview of the vessel by an independent source. (In other words, not the broker nor the owner). The information such as vessel details, specifications and inventory are verified, photos taken, evident defects listed, and, an overall condition reported. (Bristol, Above Average, Average, Fair, Poor, Restorable) This service can be completed in just a few hours dependent on the vessel location.
Insurance companies often ask for a “Survey and Valuation” initially, and periodically, as part of their risk mitigation procedures. Depending on the insurer this may be either “in water” or “out of water”. The survey is quite detailed due to the requirement that, for a valuation to be achieved, a full inventory of the vessel needs to be taken. This can be time consuming and contains such things as all machinery serial numbers, specifications, running hours and model numbers. Valuations are requested either using the “Asset Protection Criteria” or “Market Value”, which in some circumstances can be considerably different. A risk matrix for the vessel is put together and defects categorised in similar fashion as in a pre-purchase survey. Generally, a valuation survey will comprise a detailed 30-40-page report and be required every 3-5 years.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. A P&I club is a mutual insurance association that provides risk pooling, information, and representation for its members. The P&I survey is generally for commercial vessels and covers such areas as passenger and crew safety, environmental protection including MAPOL regulations, general safety of the vessel, crew manning, onboard procedures, and, any other vessel specific areas that may lead to any form of indemnity claim. Your surveyor, Andrew Laughlin, has experience in this field and specialises in commercial passenger and charter vessels. P&I surveys are generally requested by the insurer and the costs incurred may be at the expense of either the insurer or the insured.
Accidents do happen, unfortunately, and is the underlying reason for holding insurance in the first place. Your surveyor, Andrew Laughlin, is an experienced claims assessor having assisted both insurers and vessel owners in working thru numerous claims. The role of the surveyor in a claim is important in assisting both parties. The claims process includes areas such as mitigating the incident, reporting on probable cause and damage incurred, supervising repairs, and, assessing the final claim amount. Insurers and owners can rest assured that the process will be impartial, caring, and responsible. Copies of past survey reports are available on request and include such areas as fires, total loss, grounding, passenger injuries and mechanical failure.
Andrew Laughlin, has a proven track record in construction and fit outs over the last decade. We can work with you on your projects thru the business modelling, consultation with architects, construction supervision, equipment sourcing and business set-up. Through a full set of services customers may also choose to place their completed vessel under management for the operational stage. Navigating cost controls, suppliers and regulations is an important factor to be taken into consideration by any potential investor. We will work with you, hand in hand, to reduce any potential risks in the process. Scope of supply ranges from hourly consulting to full project management. Why not contact us for a no obligation discussion of your needs.
This service is wide ranging and very case specific. Whether you are unable to be present, or simply wish to have an expert opinion, engaging a qualified marine expert could save you large amounts of money and stress. Scope of supply is discussed in advance and work is done on a time sheet basis. At the end of each month you will receive an excel time-sheet with work completed and hours justified. Invoicing is done monthly after an initial account has been established. Initial meeting is free of charge to discuss potential working relationships.
We offer management for vessels based on the scope of supply agreed. This varies from full management of both private and tourism charter vessels, thru to more support-based contracts such as repair and maintenance. Clients can choose their scope of supply depending on how involved they themselves wish to be in the operations of the vessel. Some examples of areas of scope are:
- Crew and staff contracts, inventories, monthly cloud based financial reporting, licensing, docking/haul-out contracts, contacts, and supervision.
- Supplier contacts and contracts, sourcing, ordering, shipping, and provisioning.
- Insurance contracts and negotiations, satellite communications, dry dock procedures and supervision, onboard operations, co-ordination with captains and crew, set up and control of general maintenance procedures of the boat, standard operating procedures. (SOPs)
Why not contact us for a no obligation discussion of your needs.
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