Vessel Trade Endorsement
BoatWiki - Definitions
Definition
A vessel trade endorsement can be defined in maritime terms as an entitlement for Coast Guard documented vessels to engage in certain specified activities. Although there are several types of endorsements, the most common are recreational, coastwise, fisheries, and registry. Such designations are listed on the vessel's certificate of documentation.
Meaning
Vessels must become Coast Guard documented in order to engage in various commercial or non-recreational activities. Its certificate of documentation will then bear evidence as to whether the vessel has qualified for a particular type of engagement. These are known as endorsements.
Context
Although most any vessel that measures at least 5 net tons will qualify for a recreational endorsement, there are more stringent rules when it comes to those for commercial operations. These are mostly related to an owner's citizenship standing and the country in which the vessel was constructed.
Conclusion
Compliance with commercial regulations should be taken very seriously. Violations can incur stiff penalties and perhaps even a forfeiture of the vessel itself.
Credits and References
4/19/2022 - Page initiated by Team BoatWiki.
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