Are you pondering the idea of officially Documenting a Vessel you Own, but are feeling uncertain about the pros and cons? It’s true that some boat owners have no choice but to document their vessels due to specific requirements. Yet, there are other boat owners who willingly choose to document their boats, and they do so for a range of compelling advantages.
Navigating Commercial Waters
If your boat’s size reaches five net tons and you, as an American citizen, intend to use it for commercial activities, documentation becomes a necessity. This applies particularly if your boat is destined for activities such as fishing or engaging in “coastwise trade” within the United States navigable waters or Exclusive Economic Zone. The concept of “coastwise trade” involves transporting passengers or goods. Should your boat’s purpose align with these criteria, documenting your vessel becomes an easier task with our assistance.
Financial Facilitation
Even if your boat isn’t earmarked for commercial pursuits, you might still opt for documentation. A prime motivation for many is securing financing. A documented vessel becomes eligible for a Preferred Ship’s Mortgage, which can transform your dream of boat ownership into a reality without straining your finances excessively. Lenders view documented boats as more secure collateral compared to their undocumented counterparts. We provide the necessary forms for applying for a Preferred Ship’s Mortgage, as well as the forms pertinent to completing the process once the mortgage is settled.
Setting Sail to International Waters
Reviewing the available endorsements, you’ll come across the “Registry” endorsement, tailored for those intending to venture into international waters. Even if international commerce isn’t on your horizon, documenting your boat can substantially simplify international travel across maritime borders. Foreign governments recognize boat documentation as a form of national registration. This recognition expedites customs clearance and entry procedures in ports worldwide, as your boat’s nationality is clearly established.
We Can Help When You Decide to Change How You Use Your Vessel, Too
You may have read the above and thought something along the lines of: “I’m going to use my vessel for commercial fishing now, sure, but what if I decide to use it for another purpose?” Of course, you’re welcome to change your vessel’s endorsement (purpose for using it) at any time. That’s just one of the many forms of documentation that you can find and easily complete at our site.
Charting a Course to Documenting a Vessel You Own
These represent just a few of the incentives driving boat owners to opt for vessel documentation. Should you desire a deeper understanding of boat documentation, our website is at your service. Engineered for simple access on mobile devices, you can explore our offerings from practically any connected device. On our platform, you’ll discover a comprehensive range of documentation forms catering to every stage of boat ownership. From the initial Abstract of Title to the primary documentation process, and from renewal to ownership transfer, all the necessary resources are readily accessible here.