Vessel Purchase Agreement
These clauses relate to the buyer`s right to withdraw a transaction if the ship turns out to be a total loss before delivery. The main problem in this regard is to ensure that the contract contains the seller`s services, such as the corresponding certificates and other documents necessary for the registration envisaged by the buyer. The contract should contain clauses to provide them as a precondition for payment of the purchase price. This would help the buyer not to chase the seller away after the completion of the transaction for the specific paper needed to register the vessel on behalf of the buyer. There are differences in these clauses and they differ greatly depending on the circumstances applied. . . .