Course description
Certificate in Ship Sale & Purchase - 12-week distance course on vessel selling & purchasing
In the maritime industry where vessels are commonly bought and sold, there is a demand for professionals with practical knowledge on the processes, protocol and legal frameworks which govern ship sales and purchases. This part-time distance learning course will cover all aspects of the buying and selling process, enabling professionals to successfully negotiate a vessel sell/purchase contact on behalf of their organisation.
In providing a thorough introduction to ship sales and purchases, the course will cover:
- Parties, roles and contracts involved
- Drafting and negotiating a contract
- The commercial aspects of a sale/purchase
- The legal frameworks around a sale/purchase.
Upcoming start dates
Suitability - Who should attend?
This distance learning training course has been designed for professionals who are either involved in or moving into the sale and purchase of vessels. Qualified candidates may include, but are not limited to:
- Shipping company personnel and ship managers
- Shipbrokers and marine surveyors
- Ship finance and investment managers
- Technical personnel needing a S&P contractual overview
- New starters, recent recruits and graduates.
Outcome / Qualification etc.
Upon completion of this training programme, Participants will be awarded a Certificate in Ship Sale and Purchase from Lloyd's Maritime Academy.
Training Course Content
Delivered entirely online, this training course will cover the following topics:
Introduction to Sale and Purchase, Parties, Roles and Contract Forms
• The parties and understanding their roles • Contracts • Price assessment, valuations and inspection • Choice of flag state by buyer
The Shipbroker and Formation of the Contract in Sale and Purchase
• The role of the shipbroker • Formation of the contract
The Memorandum of Agreement Part I: Details, Descriptions, Price and Delivery
• The nature of an MOA • Details of the parties • Description of ship and equipment • Price, deposit and payment • Inspection and drydocking • Delivery • Name and markings
The Memorandum of Agreement Part II: Delivery Process, Documentation, Condition and Disputes
• Delivery process • Documentation • Delivery of ship • Physical ship condition • Buyer’s representatives • Default • Dispute resolution and governing law
The Memorandum of Agreement Part III: Other Terms and Ship Recycling
• MOA terms outside of the standard process • Boilerplate terms • Dispute resolution clause • Terms in unusual circumstances
Performance Guarantees, Default, Remedies and Arbitration
• Payment of the purchase price • Dealing with the unexpected • Remedies • Buyer in default • Seller in default • Sale of ships for recycling • Performance guarantees.
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Lloyd's Maritime Academy
Lloyd’s Maritime Academy was born from Lloyd’s List. Lloyd’s Maritime Academy is the trusted brand for professional development, working with leading academic and industry bodies to provide accredited education and training where it is much needed.We are stepping up investment...