There are initially two agreement that must be executed to enter the Guaranteed Income Program: (1) the Purchase & Sale Agreement and (2) the Yacht Management Agreement.
The overall Purchase & Sale Agreement consists of the following sections:
Typically, the buyer with assistance from a broker prepare the buyer’s offer using the foregoing and present it together with a nominal deposit check to FYG. Then, if accepted by FYG Management, the agreement is established and payments are typically made up to 20% of the total as contingencies (such as financing approval) are satisfied. Typically, when the yacht is ready for delivery, the remaining 80% is paid in full.
You can access this important a typical Purchase & Sales Agreement package by registering your interest with FYG and, then, using the password provided to access it on-line. To register, please click on Registration, and you will receive an automatic email with the password; then go to the following page: YACHT FOR LESS Downloads page or click on the link above.
To enter the charter fleet, the yacht management agreement applicable to the Guaranteed Income Program is executed by the buyer and FYG management. This agreement contain all the applicable terms and conditions for the yacht’s usage by both FYG and the owner for an annually renewable, 5 year period. This agreement covers all the following:
You can access this important a typical Guaranteed Income Yacht Management Agreement package by registering your interest with FYG and, then, using the password provided to access it on-line.