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Yacht Purchase and Management

Jeanneau Dealer of the Year 2017

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:

  • Lease  Purchase Agreement is a  document that summarizes the cost of the lease, the new cost of the yacht  including  cost adjustment components, and all the terms and conditions of the lease and the lease period loan.
  • Build-sheet shows all the yacht’s technical features and options with prices that are used to determine the full cost price of the yacht. There maybe be additional sheets that list the scope of major options or “packs”. The total price from this sheet transfers to the Purchase & Sales Agreement
  • Dealer installed options sheet shows all the items to be installed by the dealer after the yacht is delivered. This sheet also lists all commissioning costs. The total price from this sheet transfers to the Purchase & Sales Agreement
  • Addendum sheets are added to reflect changes and additions either not listed elsewhere or changes after the initial agreement.

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:

  • FYG responsibiities with respect to marketing, booking, checking on charterer competency, vessel pre-checks+orientations, deposits, during and after charter services, and Owner’s services
  • Lessee responsibilities
  • Emergency repairs
  • Promotional use of the yacht
  • Vessel expenses including dockage+utilities, insurance, regular annual maintenance expenses, charter turn-around fees, and outside broker fees
  • Owner’s use
  • Working balance
  • Exchanges for vessels in other charter programs
  • Hurricane policy

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.

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