Are you in the process of considering yacht documentation? Are you “on the fence,” so to speak, as to whether to document your vessel or not? As a vessel documentation company, our role is to assist individuals and organizations in documenting their vessels when appropriate. Not everyone can document their vessel, nor should everyone who can do so. That said, there are others who must document their vessels. Below are some simple rules to keep in mind as well as some ways we can help.
Those Who May Document Their Vessels
You can document any vessel here in the United States that measures at least five net tons and is wholly owned by an American citizen. Yes, there is an “American-build” requirement for certain trades, and there are exceptions. If you have any questions about whether or not your vessel is eligible for documentation, we encourage you to reach out to us.
Those Who Must Document Their Vessels
The above has been said, there are others who must document their vessels. Specifically, vessel owners who will use their vessels to transport people and goods or engage in commercial fishing operations in the Exclusive Economic Zone or on the navigable waters of the United States have to document their vessels.
Changing How You Use Your Vessel
When you document your vessel, you’ll choose an appropriate “endorsement” for your vessel. Those that are going to be used for fishing will choose Fishery, those that will be used to transport people and/or goods will opt for “Coastwise,” etc. “Registry” is for those that engage in foreign trade, while “Recreation” is what it sounds like: the endorsement for people who want to use their vessel to have fun. You can change your endorsement through the “Change of Endorsement/Trade Indicator” form at our site.
There are potential benefits to documenting a vessel that not all vessel owners are aware of. To wit, documenting a vessel establishes its nationality and allows it to be flagged under the jurisdiction of a specific country. Flagging a vessel can provide various benefits, such as access to favorable maritime laws, international recognition, and the ability to fly the flag of the country, enhancing the vessel’s credibility. Plus, documented vessels typically have an easier time navigating international waters and obtaining clearance at foreign ports.
The Preferred Ship’s Mortgage
A majority of the vessel owners who use our site for documentation do not plan on using their vessels for commercial operations. Instead, they plan to use them recreationally. That said, they still reap the benefits of documentation. How? By being able to apply for a Preferred Ship’s Mortgage. Financial institutions often require vessels to be documented as collateral for loans. Documentation provides a transparent and recognized legal framework for lenders, ensuring their security interests are protected.
A Center for National Documentation
If documentation is right for you, then we can help. At our site, you’ll be able to document your vessel with us quickly, easily, and efficiently. Moreover, you’ll be able to take care of other forms of vessel documentation as well. To see all that we offer, browse through the site.