legal matters

New legislation on deferred importation would let U.S. citizens buy foreign-flagged brokerage yachts in U.S. waters.

On August 20, 2013, the Maritime Labor Convention (MLC) came into force. It will impact owners’ ability to commercially charter their yachts and will change the way we build yachts. Devised to protect the unprotected crew, the MLC adds another burdensome layer of governance on yachting.

Reading a yacht insurance policy is often like reading a novel in Sanskrit: just about impossible. But understanding your yacht’s insurance policy is critical to protecting yourself from breaching the insurance policy and being denied coverage.

According to Inchcape Shipping Services (ISS), failure to comply with reporting requirements for marine accident, injury or death within the established time frame could result in fines up to $75,000.

Editor’s note: This part two of an article, which first appeared in OCEAN Management’s Pilot Magazine, Issue 15. It has been edited for style and length and is reprinted with permission.

On August 21, 2013 the requirements introduced by the Maritime Labour Convention 2006 (MLC) come into force. MLC will affect all commercial shipping, including commercial yachts. While yachts under 200 gross tons may not have to comply with all the MLC requirements, this decision has been left up to the yacht’s relevant flag state.

If you are considering buying a yacht, Make sure to do “due diligence” and review your options, including corporate ownership.

Think twice about what you post online. Social media is here to stay and though it's a good way to stay in touch with friends and family and expand your network, there are reasons to worry. Do you know who will re-tweet or like your page? Once your news is out, there is really not way to know where it will end.

In anticipation of the new rules--and to help designers and builders prepare new designs in accordance with these rules--the MCA has made its new LY3 Large Commercial Yacht Code public. MCA representatives attended the Monaco Yacht Show in September and made themselves available for questions and clarifications.

Registering a tender not a complicated matter, but it should be taken as seriously as any yacht documentation. The type of registration required for a tender may vary but, generally, if a vessel is used independently of the mothership or is towed or delivered on its own bottom, it requires its own registration.

When traveling internationally, or even if you're staying close to home, it can be a chore to keep track of the ever-changing laws and taxes surrounding recreational boating. Here are some recent developments you may need to know about before making your next purchase or planning your next cruise.