1) To ensure a thorough knowledge and understanding
of the practice and etiquette of this specialist sector of ship broking, dealing with new buildingcontracts, second-hand sales and purchases and demolition sales.
2) To develop relevant communication skills
All types of ships.Terminology
of measurements including dimensions, tonnages, cubic capacities,TEUs.Types
of machinery, cargo handling and any other specialized equipment.Current and future development
of vessels new and specialized designs including innovations.The effects
of recent legislation.
Geographical location of new building yards, demolition
buyers and areas where particular types of vessels are utilized. Cargoes and trading routes, physical
or meteorological limitations on dimensions and ship types.
REGISTRATION AND CLASSIFICATION
The main and ancillary purposes of ship registration.Requirements, advantages and disadvantages of various flags; dual flagging.The role
and function of classification societies and classification society registers.When and how classification
may be involved in a ships sale.
THE PARTIES INVOLVED
Ship-owners - Development of differing types of
owning groups e.g. individual entrepreneurial owners, corporate structure, conglomerates, investment
groups, pools.Other parties involved - brokers, charterers, ship breakers, bankers, other financiers,lawyers, notaries, consuls and registrars.
The markets for new building, second-hand and demolition
sales and purchases and their inter-relationships.Factors affecting
the market including natural catastrophes, environmental, aid programmes, political crises. Tramps
and liners. National traditions and weaknesses.The production and interpretation of both statistical
and written market reports.
CONTRACTS AND DOCUMENTATION
The necessary content of a contract for the sale
and purchase of a ship whether for new building, second hand or demolition, including detailed
understanding of fundamental clauses.Drafting summaries of agreements
and Memoranda of Agreement. All standard forms currently in use as a base for a contract and necessary
or desirable additional extra clauses or alterations.Procedures, reasons
for and form of documentation produced by buyers, sellers and other parties in connection with
completion of a sale and delivery and legal transfer of a ship.The different
certificates and compliances that might be relevant the time of sale of a ship. Issuing authorities
and validities including compliance with international and national authorities.
The conduct, etiquette, ethics and procedures of
a negotiation. Translating a principals requirements into suitable clauses.Drafting
offers with the correct sequence of clauses, counter offers, specific clauses,recapitulations,
completion agenda and understanding their implications.The importance of information given without
FINANCE AND INSURANCE
The information needed by a financier when considering
a project. Providers and different methods of financing including mortgages, leasing and bareboats Means of providing security for loan.Currencies,
interest and exchange rates.The role and function of insurance in sale and purchase transactions
including P & I insurance.
Role and legal position of the valuer, liabilities
and protection. Reasons for and types of bodies requiring valuations. Salient facts needed to carry
out valuations. Methods of assessing values.
LEGAL ASPECTS OF SALE AND PURCHASE
Law relating to sale and purchase. Areas of dispute
including: Validity of agreement;
Entitlement to commission; Rejection of the vessel
by buyer; Condition of the ship
on delivery; Validity of Notice of Readiness; Description
of vessel in the preamble;
ramifications and significance; Brokers liability.
The effect of legislation on both existing vessels
and new buildings or construction.
NB: No exemption is permitted from this subject.