Part Builder's Certificate

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Magnum

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Part Builder\'s Certificate

Today I've been given a copy of a Builder's Certificate for Magnum 3 which I'm told is a part Builder's Certificate. It's dated 1st May 2008 because that's when the vessel will be completed enough to to make it a full Builders Certificate, I'm told. The original is being retained by SS until she is finished.

Is this of any use to me? Do I now own the boat with this copy? Or is it just a gesture of good will?
 
Re: Part Builder\'s Certificate

In and of itself it doesn't transfer title to the part built boat to you, so to that extent I guess it is goodwill but it sort of proves the boat exists and is generally needed if you need to secure your deposit moneys by way of a charge over the part built boat (which is the depost/stage payments structure that Rod S used; he discussed it with you I think)
 
Re: Part Builder\'s Certificate

Yes, and sunseekers agreement of course. RS did it with his Sq58, and Fairline were agreeable. Dunno if he did it with the manhattan (which is in the water now) but knowing him I'd be surprised if he didn't for that much money.

Correct me if I'm wrong but with SS you have a contract with or guaranteed by the builder don't you? It's only the other makes where you are offered only a contract with the dealer? Is that right? It might therefore be that RS did it with the fairline becuase his contract was only with the dealer, whereas with his SS he didn't bother cos his money was underwritten by SS the builder. I dunno. Will ask him if you like (he's on holiday this week tho)

RS used a lawyer (for the fairline) that knew all this stuff about mortgages on part-built boats. I thort he gave you the name? Makes sense to use a lawyer who knows this stuff else you will be paying to train the lawyer
 
Re: Part Builder\'s Certificate

Yep, just dug out RS's mail detailing lawyer.

My contract is with Sunseeker Sales Group not Sunseeker International (the builder) but I have paid a deposit direct to SI.

So this I'm not sure this Builder's Certificate isn't worth a thing without a charge by the looks of it.
 
Re: Part Builder\'s Certificate

How far into the build process was the cert issued?

On another issue, what nav system did you opt for?
I have a Manhattan in build also and have opted for the G series.
Do you have any opinion on it?
 
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