Legal matters

If you’re thinking of investing significant money into a new yacht build then you might want to consider building to a survey that allows the yacht to be used commercially. While it may be the case that the yacht will only be used for pleasure, the benefit this adds will return both in dollars and confidence in your yacht.

The Large Yacht Code is one such code that was initially established to make sense of old shipbuilding regulations with the first LY1 draft focusing on superyachts. With the most recent changes, the LY4 code stands to benefit the yachting industry and yacht owners further. These improvements are broad-based from safety and environmental sustainability to comfort and innovation. With such a broad change in the code, standard form contracts that were used in the past need to be updated to ensure their terms reflect the code’s requirements.

The first important benefit for yacht buyers is the heightened emphasis on safety under LY4 standards. The new code employs rigorous safety protocols from improved suppression systems and fire prevention through to advanced navigation and communication equipment and better emergency response procedures.