Diploma in Yacht Brokerage

AN INTRODUCTION TO THE YACHT BROKERAGE INDUSTRY

• Maritime and Coastguard Agency

• Recreational Craft Directive (RCD)

• The purchase of a vessel

• Listing the vessel

• Inspection

• Negotiation and contract

• The Law and vessels

• Merchant shipping legislation and yachts

• Registration

• Marine insurance

• The boat broker and civil law

• Health and safety for the boat broker

• Brokerage companies and organisations

TYPES OF VESSELS & TECHNICAL DESCRIPTIONS

• Basics of design

• Definitions of the principal dimension

• The shape of hulls

• Types of vessels

• Sailing boats

• Sails and rigging

• Powerboats

• Inland waterways vessels

• Materials and their construction

• Technical standards

REGISTRATION, TITLE RULES AND REGULATIONS

• The role and function of registration

• Registration and the certification of the registry

• Admiralty law and jurisdiction

• International law

• Documentation

• National and International Standards

• The Royal Yachting Association and Training Qualifications

YACHT BROKERS AND THE LAW

• Legal concepts

• The law of contract

• The law of tort (negligence)

• Sale of goods

• Trade descriptions

• Business practice

• Value Added Tax (VAT)

• Recreational Craft Directive (RCD)

BUSINESS MANAGEMENT

• Starting a boat brokerage business

• Chosen product

• Money

• Money and cashflow

• Sources of accounting advice

• Can you avoid putting your house at risk

• Risks

• Advice

• Mechanics

• Getting offices and other business premises

• Obtaining listings, photography, advertising and publicity

• Go and see the vessel and crawl over it yourself

• Responsibilities of the different brokerages (listings and selling)

• Getting the vessel on your books

• Marketing and selling

• The sale process

• Communications, ethics and client relations

THE SURVEYOR IN PRACTICE

• The surveyor

• Organising and completing the survey

• Types of surveyors

• What makes a good surveyor?

• Types of surveys

• The role of the surveyor and the sale process

• The broker/surveyor relationship

SEA TRIALS

• The sea trial and the broker

• The purpose of the sea trial

• Engine tests

• Steering tests

• Other system trials

• Information recording and reporting

VALUATION

• What is a value?

• Valuations and the broker

• Aspects of value

• Valuation methodology

• Sources of information

• Depreciation as a method of determining value

• Yacht surveyors

• The valuation report

INSURANCE

• The legal side of marine insurance

• Background to the development of marine insurance

• A contract of the utmost good faith

• A contract of indemnity

• Lloyds and the London market

• Lloyds brokers and insurance brokers

• Physical loss of or damage to the property

• Primary and secondary risks

• Some common types of insurance

• The practical side of marine insurance

• The marine trades policy

FINANCE

• Sources of finance available to the broker and the decision criteria

• Title registration and the influence on options for finance

• Liens and encumbrances

• Value Added Tax (VAT)

• Corporate ownership and the rationale

• Financial Services Authority (FSA)

• Client funds, trust, deposits and escrow accounts

• Miscellaneous finance topics

YACHT SALES

• Obtaining and running a new agency

• Managing stock boats

• Part exchange

• Finance

• Exhibiting at Boat Shows

YACHT CHARTER

• Introduction to chartering

• Regulatory regime and commercial registration

• Market analysis

• Central agents and brokers

• Charter agreements

• Chartering areas and seasons

• Charter shows

• Commercial chartering

• The charter team

• Managing the charter

• Problems and resolutions