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New Vessels

BarsFont Awesome Free 5.0.6 by @fontawesome - http://fontawesome.com License - http://fontawesome.com/license (Icons: CC BY 4.0, Fonts: SIL OFL 1.1, Code: MIT License)

Used Vessels

There has been recently a large increase in requests for “kickbacks” or “Commissions” to be paid directly back to government officials, directors of companies and employees upon final purchase for vessels.

It is illegal for any government employee, director or company employee to engage in such requests.
Commission rates are agreed between the owners of the vessel and the brokers. Additional commissions with external agencies may be agreed if all parties agree and the business has no connection with the buying company or employees and is a registered business with principal business in procurement. The buyers may agree to add the agency commission within realistic rate additional to sale price if mutually agreed and signed MOA.

Brokers must show due diligence to ensure that any third party commissions are legal and accepted by all parties in writing with proof of third party business company registration and free from conflict in acquisitions, charters or disposals.

Further information may be accessed from below.

Findlaw.com 

Bartier

Law.cornell

AUGUST 2020

WARNING TO GOVERNMENT OFFICIALS, DIRECTORS AND CORPORATE EMPLOYEES