To assist you with understanding our syndicated ownership program, we have compiled a short Q&A about the program below which we hope assists.

How many participants will there be?

There will be a maximum of ten (10) participants. Each participant is entitled to use the Vessel via an online booking system for a standard allocation total of 33 days per annum plus standby days , (a standby day is a day where the boat has not been booked for the following day. Stand by days are in addition to your normal allocations and do not deplete your allocation).

Who owns the Vessel?

The Vessel is owned by the syndicate members. A Certificate of Title for your interest in the boat is forwarded to you on receipt of the final payment for your share.

What are the “Usage Rules for the Vessel”?

There are no restrictions regarding use placed on you by Yachtshare (other than training rules). You are free to use your vessel where ever you wish. (Note that the insurance company may apply restrictions such as prohibiting bar crossings etc).

When will the boat be sold?

The boat will be sold 4 years after the sale of the last share. Yachtshare P/L will ensure that all owners have had the benefit of their allocated use of the boat, prior to the sale of the Vessel.

The Vessel will be offered for sale firstly to the owners of the Vessel, and then to the open market failing an agreement or no interest from one or more of the owners. Once the boat has been sold and the sale proceeds received, the Yachtshare will then pay your portion of the sales receipts, less applicable selling costs (including brokerage commission).

Why is the participation period a fixed term?

We believe that a term of 4 years is a good time to sell the Yachts because:

•  it will then be a used Vessel but not too old, and in good condition, particularly given our intensive maintenance program;

•  maintenance and repair costs are likely to increase after the fixed term period; and

•  it provides owners with a fixed timeframe after which they will receive a return of capital in the form of their portion of the sale proceeds. It also gives you the opportunity to buy an ownership interest in a different vessel.

Can I transfer my interest in the Vessel early?

Yes, we acknowledge that situations may arise where you would like to either transfer your interest in your current vessel or leave the program altogether. You are always able to sell your share. Yachtshare will market your share at an agreed return to you.

How do I use the website?

You can use the site to view the reservation schedule for your vessel, communicate with other owners, contact Yachtshare P/L and use the many additional features and services that the site offers. Once you have completed your documentation, we will provide you with your login details so that you can access the site.

What now?

We are happy to either show you the boat/s personally or answer any further queries that you may have regarding the program. Please call us to arrange this.