Terms and Conditions

HERITAGE YACHTS "ORDER "FORM.

This Yacht Building Contract (the "Agreement") is entered into on [date] (the "Effective Date") between [Your Name], with its principal place of business at [Address] (the "Client"), and Heritage Yachts, Build [Insert Number] LLC, a single purpose entity organized under the laws of [Country], with its principal place of business at [Address] (the "Builder").

RECITALS

A. The Client desires to have the Builder design, construct and deliver to the Client a yacht (the "Yacht") in accordance with the specifications set forth in Exhibit A [see The Palm Beach 82 or Cruiser 78 Specifications] hereto.

B. The Builder desires to design, construct and deliver the Yacht to the Client in accordance with the specifications set forth in Exhibit A  [see The Palm Beach 82 or Cruiser 78 Specifications] hereto.

AGREEMENT

1. DESIGN AND CONSTRUCTION.

a. The Builder shall design and construct the Yacht in accordance with the specifications set forth in Exhibit A [see The Palm Beach 82 or Cruiser 78 Specifications], which is attached hereto and made a part hereof.

b. The Builder shall provide the Client with progress reports at reasonable intervals during the construction of the Yacht.

c. The Builder shall obtain all necessary permits and approvals required for the design, construction and delivery of the Yacht.

1. DELIVERY.

a. The Builder shall deliver the Yacht to the Client at the place designated by the Client in writing prior to the completion of the Yacht's construction.

b. The delivery of the Yacht shall be completed when the Yacht is delivered to the Client in accordance with the specifications set forth in Exhibit A  [see The Palm Beach 82 or Cruiser 78 Specifications] attached hereto..

1. PAYMENT.

a. The Client shall pay the Builder the total sum of [Amount] (the "Contract Price") in accordance with the payment schedule set forth in Exhibit B.   

1. The Price shall be paid in [Number of payments] payments as follows:

• [Amount] upon execution of this Contract;
• [Amount] upon completion of the [Milestone];
• [Amount] upon completion of the [Milestone];
• [Amount] upon delivery of the yacht.

b. If any payment is not made when due, the Builder may, at its option, suspend or terminate the construction of the Yacht until such payment is made.

1. WARRANTIES.

a. The Builder warrants that the Yacht shall be free from defects in materials and workmanship for a period of [Warranty Period] from the date of delivery.

b. The Builder shall repair or replace any defective parts or materials at no charge to the Client during the warranty period.

c. This warranty shall be the sole and exclusive warranty made by the Builder and shall be in lieu of all other warranties, express or implied.

1. LIMITATION OF LIABILITY.

a. The Builder's liability under this Agreement shall be limited to the Contract Price.

b. The Builder shall not be liable for any consequential, special, incidental or indirect damages arising out of or in connection with this Agreement or the use or operation of the Yacht.

1. DISPUTE RESOLUTION.

a. Any disputes arising out of or in connection with this Agreement shall be resolved by arbitration in accordance with the rules of [Arbitration Association].

b. The arbitration shall be held in [City], [Country], and the arbitrator's decision shall be final and binding on both parties.

1. GOVERNING LAW.

This Agreement shall be governed by and construed in accordance with the laws of [Country], without giving effect to any choice of law or conflict of law provisions.

1. ENTIRE AGREEMENT.

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

[Client Name]

By: _______________________________

Name: _____________________________

Title: ______________________________

[Yacht Builder Name]

By: _______________________________

Name: _____________________________

Title: ______________________________

EXHIBIT A

 [see The Palm Beach 82 or Cruiser 78 Specifications]

1. The Heritage Palm Beach 82 Motor Yachts - https://heritage-yachts.com/specifications

2. The Heritage Newport 78 Cruiser - https://heritage-yachts.com/specifications-1