Marine Survey

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BoatWiki - Definitions

Definition

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A marine survey can be defined as the physical inspection of a particular boat in order to determine its overall condition, sea worthiness, and value. It is also known as a boat survey or vessel survey.

Meaning

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Although primarily conducted as part of a purchase and sale arrangement, the marine survey can also serve other purposes. These include insurance, taxation, and financing considerations.

Context

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Marine surveyors typically undergo a considerable amount of training and education with respect to their trade. The subject boat is usually hauled out where sophisticated tests can be run on the hull and superstructure. The surveyor also checks for signs of appropriate markings and any tampering with respect to its identification or registration. In most cases, the surveyor will moreover run a comparative evaluation of he boat's worth.

Conclusion

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The need for thorough and competent survey can not be understated for any kind of boat transaction. This is especially true given that most boats are sold as-is and historical data is very difficult to come by. Due diligence should accordingly be employed in selecting the right surveyor.

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Credits and References

5/19/2022 - Page initiated by Team BoatWiki.

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