What we do and what we don't !
To make it very clear to everyone we work for, what we can and what we cannot do:
What we don't : (and will never assist with !)
We do not advice or arrange loans or financing ! We dot not assist in transactions when we feel that one of the parties is being- or may be harmed or misled. We do not chose party in a transaction or legal procedure and work allways for both the buyers and the sellers independantly !
What we do
at shipsales: We hold the deposit * (normally 10 or 20 % of the transaction) on a separated trustee account for and on behalf of the buyers and the sellers. Instructions are only valid and will only be followed up in case they are given in writing jointly by the buyers and the sellers. We can hold and pay the complete purchasesum for the buyers in case no notary or bank to be involved in the transaction. We return the purchasesum to the buyers in case the sellers do not perform according the Memorandum of Agreement or other contract. We pay the deposit to the sellers, in case the buyers do not perform according the Memorandum of Agreement. We can and will advice buyers and sellers by completing a Memorandum af Agreement in case clauses are unclear, incomplete, impossible or unreasonable to avoid legal procedures afterworths.
At purchases or as agents
We can controll purchased equipment delivered as per purchase contract and pay suppliers accordingly. (normally for overseas principals only) Pay purchases of bunkers, lub. oils, equipment or pay shipyards or repaircompanies on behalf of shipowners. We can do investigations in Europe for overseas principals related to shipping business or for shipowners. We can act as cash buyers for overseas shipowners.
* Deposits will be kept solely according the clauses 2, 13 and 14 of the Memorandum of Agreement and buyers and sellers to instruct us accordingly.
Due to the European laws on money laundering, we can only return payments, deposits and other amounts to the sender/suppliers of the deposits. We cannot sent payments to any others than the original senders of the money ! In case we would receive request to pay deposits to other entities than the sender, we are legaly forced to inform the National Bank about such requests.