Vessel Trade Restriction
BoatWiki - Definitions
A vessel trade restriction can be defined in Coast Guard documentation terms as an activity in which the vessel may not participate. This can happen because of qualification deficiencies involving citizenship, specification, ownership continuity or construction issues. Trade restrictions are listed on the vessel's certificate of documentation along with the qualified endorsements.
In order to engage in commercial operations within the United States, a vessel must become Coast Guard documented. In doing so, it will need to conform with certain requirements and regulations for each type of operation in which it intends engage. It will accordingly accrue either an endorsement or restriction depending on whether it meets such qualifications.
A certificate of documentation will list the trade endorsements for which the vessel has qualified. These include recreational, carrying passengers, commercial fishing, and the transportation of goods. The certificate will also show a list of trades which are off limits for the subject vessel. These are called trade restrictions.
Trade qualifications for documented vessels are fairly straight forward. There are, however, some areas which are not quite so well defined. In these situations it is best to consult with a qualified maritime attorney or directly with the U.S. Coast Guard. Penalties for such violations can be extremely severe.
Credits and References
5/20/2022 - Page initiated by Team BoatWiki.