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Sample Boat Partnership Agreement

12/04/ Likes.0 Comments

Wondering if anyone has an example or a typical boat partnership agreement? It`s for a 4ksb cruise, with occasional testing, the beer can race. Having a method to dissolve the partnership directly in advance – ours allows each partner to have a variety of ways to set the price. Do you have a method for allocating costs and wear. My personal opinion is that you have to worry about the most pessimistic scenarios. What will you do if a partner doesn`t want to buy sails, etc. or decides that they don`t want to sail much and don`t want to spend money on sailing etc. . ? Boats don`t usually sell quickly and really don`t move when a partner has an unrealistic idea of value. What will you do when it`s time to sell the boat? There should be a mechanism for a third party (perhaps a broker) to set the price with the first right of refusal for the partners. If you can sail enough to use a boat entirely of your own, this is good for you. I do not even see if the other partners are using the boat, and we do not have a rule that they can only use the boat every other day. All I know is that when I use the start-up debit card, everything is half gone. It`s working for me.

Does anyone have anything to say when it comes to a partnership? Never receive boat credit on the boat with a partner. Make sure each partner pays cash for each of their shares in the boat (or finds alternative financings such as a home loan). If a partner stops paying or cannot afford to pay, it will not affect either the other partner or the bank that returns the boat unexpectedly. This happened to a friend who made the double loan route, then a partner lost his job and could not afford to pay his share, which was a huge financial burden for the friend, because he did not want to ruin his loan or lose the boat to the creditors. If you need a partner, you should really look at a smaller boat. Larger boats are more painful. I`ll downst, if I decide to get rid of the current boat one day. It is not because of the costs, but only because of the accessibility and size of the crew. I`ve been in two partnerships and I love the reason Loco mentioned it – we all have a bigger boat to sail than we could afford alone. Current partnership, I`m 50%, two more 25% per – go number (it`s a trimaran, so there`s logic there).

Was in one many years ago (20) on a 3KSB. We were so relaxed on the boat, it worked out well. But in hindsight, I should have bought a smaller boat and drove it solo or 2-up, I would have learned a lot more. Still, the partnership thing was nice to take wife and very young children with what happens with the small cabin and head…. Horses for classes, I calculate. My partners are old friends – the first rule of our partnership is that our friendship should be improved by sharing a boat. We`ve been doing this for over ten years and two boats there are other threads on this topic that you should look for.

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