There are initially two agreements that must be executed to enter the Lease Purchase Partner Program: (1) the Lease Purchase Agreement and (2) the Lease Purchase Yacht Management Agreement.
The overall Lease Purchase Agreement Package consists of the following sections:
Typically, the prospective lessee with assistance from a broker prepare the lessee’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 lease plus loan value. Typically, when the yacht is ready for delivery, the remaining 80% of the total lease plus loan value is paid-in in full.
At the time as the Lease Purchase Partner Lease Purchase Agreement is executed, the Lease Purchase Partner Yacht Management Agreement is also executed by the lessee and FYG management. This agreement contain all the applicable terms and conditions for the yacht’s usage by both FYG and the lessee for the entire 5 year lease period. This agreement covers all the following:
You can access a detailed description of the Lease Purchase Partner Program 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 use the link above.