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SUBJECT MATTER OF SALE

1. In these conditions the expression “the Vessel” means the Vessel agreed to

be sold with everything on board belonging to her but excluding any

equipment on hire (see clause 13)

 

2. The Buyer shall take and pay for the unused bunker fuel and lubricants

remaining on board her (if any) in accordance with clauses 5, 6 and 7.

 

BASIS OF SALE

3. The Buyer undertakes that in making his offer he has not relied upon any

information which he may have been given by or on behalf of the Admiralty

Marshal and that he has relied solely upon his own enquiries and/or

inspection. The Buyer must make his own enquiries as to services such as

navigation and communications facilities where service providers sometimes

decline to reconnect services because of previous unpaid usage.

 

4. The Vessel is sold as lying at the date of the sale with all its faults and errors

of description whatever. The Buyer shall not be entitled to reject the Vessel

nor to any damages or diminution in price, by reason of any fault of or in the

Vessel or any error of description whatever.

 

5. Payment shall be made by the Buyer in sterling, United States dollars or

euros to the Admiralty Marshal in accordance with his directions as to venue

and as follows :

(a) immediately upon the acceptance of the offer, 10% of the price

(b) within one week of the acceptance of the offer:

(i) the balance of 90% of the price and

(ii) a sum in respect of bunker fuel and lubricants (if any) calculated

in accordance with clause 6

 

6. The sum (if any) payable in respect of unused bunker fuel and lubricating oil

shall be calculated by reference to:

(a) the quantities (if any) remaining on board unused at noon on the

day one week after the acceptance of the offer or on the day of the

final payment whichever shall be the earlier and

(b) the current market prices ruling in the port where the Vessel is lying

The quantities and prices shall be determined by the Admiralty Marshal or his agent.

 

DELIVERY

7. On completion of the payments referred to in clause 5 the Admiralty Marshal

shall give and the Buyer shall take immediate delivery of the Vessel (together

with her bunker fuel and lubricating oil).

 

8. If the Buyer requires delivery of the Vessel to an Agent, such Agent must

produce the Buyer’s written authority to that effect, signed by the Buyer and

addressed to the Admiralty Marshal.

 

9. On delivery the Buyer shall have the Admiralty Marshal’s Bill of Sale for the

Vessel, together with any documents belonging to the Vessel, which are in the

Admiralty Marshal’s possession.

 

RISK etc

10. The Vessel shall be at the Buyer’s risk from the time when the payments

referred to in clause 5 (b) are made or become due, whichever is earlier, and

from that time all expenses relating to the Vessel, including dock and other

dues, shall be for the Buyer’s account.

 

11. If the Vessel is lost, destroyed or damaged in any way whatever before the

risk in the Vessel has passed to the Buyer under clause 10 the Admiralty

Marshal may rescind the contract of sale by notice in writing to the Buyer and

repaying to the buyer, without interest, costs or compensation, any sums the

Buyer has paid under clause 5.

 

DEFAULT OF BUYER

12. If the Buyer is in default in making any of the payments referred to in clause 5,

or is in any other respect whatever in breach of any of these conditions, the

Admiralty Marshal may exercise all or any of the following rights:

(a) by notice in writing rescind the contract and/or sale

(b) if the Buyer has made the payment referred to in clause 5(a) declare it

to be forfeited to him

(c) resell the Vessel by public or private sale

(d) recover from the Buyer all losses, damages costs and expenses

caused by the Buyer’s default including, in the event of such resale,

any loss suffered as a result thereof

(e) if the Buyer has made any further payments besides that referred to in

clause 5(a), retain in satisfaction or part satisfaction of the right of

recovery given by sub-clause (d) above the whole or part of such

further payments but without prejudice to any other means of enforcing

such right

 

EQUPMENT ON HIRE

13. If any equipment of any kind on board the Vessel is on hire, it shall not be

included in the sale but the Buyer shall make his own arrangements in respect

of such equipment with its Owners, and if he fails to do so shall indemnify the

Admiralty Marshal in respect of any claims arising from such failure

 

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