WHO IS A YACHT BROKER?
The Yacht Broker is a professional who is regularly enrolled in the relevant category (different from the dealer / distributor / representative) and who, operating in a condition of absolute impartiality, promotes a negotiation between the parties during the process of purchase, sale and rental of a pleasure craft. The Yacht Broker shall not disclose any confidential information to third parties who are not involved in the negotiation (in compliance with the professional confidentiality as provided for by art. 1759 of the Civil Code), while he shall provide maximum information to the parties involved.
WHAT DOES HE DO?
He brings supply and demand together and suggests negotiations for sale and purchase. Moreover, he follows all the aspects related to the drafting of the contract and its implementation and he also deals with any differences of opinion over its interpretation so that the parties can reach an agreement.
The broker helps those who want to sell their boat by promoting it through traditional channels (web and press) and through other personalized marketing activities, assisting and protecting them in all phases starting from the choice of the model until the signing of the deed of sale. Some Brokers have, for the security of all parties involved, a Deposit Account or Client Account, an account, such as that used by notaries, reserved exclusively for money transactions relating to the boat and managed according to the conditions of the contract.
The activity of the Yacht Broker is based on trust; the Broker handles business deals worth millions of Euros without anyone questioning his word. The English “masters” say “My word, my bond”.
“Unlike other countries in Italy the Broker is entitled to a commission from each of the parties, if the deal is concluded as a result of his intervention (Art. 1755 of the Civil Code); the deal is considered concluded with the positive outcome of the expertise and sea trials, when the deposit is delivered to the seller and the commissions are paid”.
Notes * in the event of non-compliance or abuse in the exercise of the profession he is liable, depending on the seriousness, to sanction, suspension or expulsion from the professional body.