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1. General Condition
- frequently referred to as a ‘walk through’ this type of
survey provides a superficial overview of the vessel as seen. Although
the scope is limited this is useful in deciding if a vessel is worth looking
at in more detail particularly for production boats where there are frequently
a number on the market at the same time at various asking prices; most
of the information supplied is from visual inspection and no physical
testing is carried out. Although this type of survey only covers a brief
inspection, it will usually include an inventory and a number of photographs
to show general condition and facilities.
2. Pre-purchase survey
- normally commissioned by a potential buyer once he/she has paid a deposit
on the vessel. This is the most common survey carried out and also the
most time-consuming. Defects in the vessel are noted in detail because
the survey document will inevitably be used in negotiating the final price.
Usually the vessel is out of the water before inspection. The survey report
will cover every aspect of the vessel in detail but essentially only notes
facts and not opinions. However a condition survey will usually include
a list of recommendations categorised into - SAFETY
- STRUCTURAL - MECHANICAL - COSMETIC. The liability for carrying
out these recommendations lies with the owner and failure to do so on
defects that threaten either the structural integrity of the vessel or
the safety of its crew will affect the cover provided by an insurance
underwriter. The decision to buy; how much to pay; or even to walk away,
although influenced by the survey, is solely the purchaser’s to
make.
3. Valuation -
this is a statement of opinion of the financial worth of a particular
vessel based on: market conditions; defects and condition of the craft.
The surveyor assesses the condition of the vessel and what impact it could
have on that value. It should be said, however, that a competent Yacht
Broker is best placed to state the value of any given yacht and, after
all, a successful sale is the best way of establishing a true valuation
on the day.
4. Engine surveys
- an engine survey reports solely on the condition of the engine as found
when inspected and run and does not entail any dismantling apart from
that required to run our standard tests. It does not guarantee the future
operation of the engine. The boat must be in the water for any such inspection
and tests to be carried out. The survey covers - Cold
starting (procedures, ease of start, check on cooling water/exhaust
outlet and warm up period). Accessibility
(engine positioning in vessel, accessibility and working area/engine room).
General condition (cleanliness and
finish, oil/water/fuel leaks, condition of engine mounts and beds, tidiness
and layout of systems - electrics, ancillaries, exhaust etc..). History
(age, running hours when recorded, maintenance records, major work or
replacements. Tests (oil pressure
at running temperature, compression on each cylinder, glow plugs, injectors,
charge rate, engine water pump, raw water pump). Recommendations
(made by our diesel engineer in consultation with the surveyor). Manoeuvrability
- carried out only in vicinity of quay (ahead with rudder amidships, full
lock to port and to starboard, in reverse. Entering and leaving berth).
Either the owner or his/her appointed representative should be present
for these procedures. Sea trials
can be carried out in addition to the basic engine survey. These services
will be quoted and charged according to individual vessel and agreed requirements.
5. Insurance Survey
- Concentrates on those physical aspects of a vessel’s condition
that could cause an insurance underwriter to suffer a loss, together with
a realistic assessment of 'valuation for insurance purposes', i.e. taking
age and condition into account, the estimated cost of replacing the vessel,
its equipment and ancilleries in the case of total loss. Osmosis is of
little concern unless it affects the integrity of the structure. An underwriter’s
major concerns are; skin valves; fuel and gas systems; standing rigging;
fixed safety and navigation appliances; and an indication that the vessel
is being maintained in a safe and reasonable condition. Moisture readings
are not normally taken and no destructive testing is carried out.
6. Survey for Finance -
Occasionally financial institutions will lend money using the vessel as
security for the loan. In these cases they need to know first, that the
vessel exists, and, second, that the condition and value of the vessel
justifies the amount being loaned. Although closely linked, the finance
company is primarily concerned with value rather than condition or usage.
You are well advised to find out precisely what is required before commissioning
such a survey.
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