PROCEDURES FOR PURCHASING A SHIP

Purchasing a ship involves several important steps that need to be followed carefully. This guide outlines the procedures for purchasing a ship through AACASINO LTD.

Find a ship that meets your needs

• Provide the Reference No. from our website.
• AACASINO LTD can locate almost any ship to suit your needs, including those not currently listed.

Once you choose a ship to buy

• Authorize AACASINO to create a non-binding Offer to Purchase (LOI) for the ship owner.
• We will send you the draft LOI for approval and signature.
• Once we receive the signed LOI, we will forward it to the ship Owner/Seller for review.

After the LOI is presented and terms are agreed

• Arrange a visual inspection of the ship (a 4 to 6-hour tour).
• If you can't visit, consider a virtual tour via Zoom, FaceTime, or video.
• If you decide to proceed, a Purchase Contract (MOA) will be prepared by us or the Seller.

Purchase Contract details

• The MOA will outline all terms, conditions, and price.
• Includes details like required deposit, closing date, and cancellation terms.
• A deposit of 10% to 20% is typically due within 3 days of signing the MOA.
• Buyer has the right to conduct a ship survey at their expense.
• A survey report will be provided, and based on this, the Buyer and Seller will proceed to closing.

The ship buying process is complex and may need further explanation.