"In essence, this is when things go horribly wrong," Alex comments. "If a client is clear in his objectives and understands the process of ownership, life
becomes much simpler. He will know what things cost, why experts with pedigree and track records should be around a table and more importantly he will
know the limitations of his budget." Invariably, however, this is not always the case. There have been instances where an owner has insisted on using the same
advisor and legal team as for mergers and acquisitions, treating the deal as though it was another one of his targets.
The trouble starts when a lawyer with Jay's very focused marine and large yachts contract experience is faced with, let's say, someone from New York or
Chicago who has zero-knowledge of either the technicalities or the local and national laws - Italian, Dutch, German etc - but certainly knows how to extend
negotiations and write a contract that effectively imposes punitive penalties on the shipyard and distorts production without protecting quality.
Brokers today spend more time in lawyers' offices dealing with the contract negotiations and minutiae
rather than walking up and down passerelles with clients in tow, presenting their latest offering.
Alex Braden
Chairman, Yachting Partners International Group
07

Page 1Page 2Page 3Page 4Page 5Page 6Page 7Page 8Page 9Page 10Page 11Page 12Page 13Page 14Page 15Page 16Page 17Page 18Page 19Page 20Page 21Page 22Page 23Page 24Page 25Page 26Page 27Page 28Page 29Page 30Page 31Page 32Page 33Page 34Page 35Page 36Page 37Page 38Page 39Page 40Page 41Page 42Page 43Page 44Page 45Page 46Page 47Page 48Page 49Page 50Page 51Page 52 Produced by PageSuite