Receipt for Boat Purchase

RECEIPT FOR BOAT PURCHASE

WHEREAS

WHEREAS Seller Name: is the lawful owner of the vessel described below; and

WHEREAS Buyer Name: desires to purchase the vessel and Seller agrees to sell under the terms set forth herein.

NOW, THEREFORE, the parties acknowledge receipt and agreement as set forth in this Receipt for Boat Purchase dated:

Vessel Description

Scope of Work

Scope of Work: Seller shall transfer clear title, deliver the vessel and specified equipment to Buyer at the location and date agreed by the parties. Any preparatory work, repairs, or modifications to be completed prior to delivery must be described below and accepted by both parties.

Payment Terms

Total Purchase Price: $

Deposit Received: $ on by

Balance Due: $ payable on or before . Payment schedule or milestones may be set out below.

Late Payment Fee: applied to any unpaid balance thirty (30) days after the due date, plus costs of collection and interest where permitted by law.

Term and Termination

Effective Date: . Completion/End Date (if applicable): .

Either party may terminate this agreement for material breach if the breaching party fails to cure within after receipt of written notice. Termination does not relieve Buyer of obligations to pay for delivered goods or services performed prior to termination.

Condition of Vessel; Title and Risk of Loss

Seller affirms that, to the best of Seller's knowledge, the vessel is free of liens and encumbrances except as disclosed herein. Title shall pass to Buyer upon Seller's receipt of the full purchase price and delivery of properly executed transfer documents. Risk of loss transfers to Buyer on delivery unless otherwise agreed in writing.

Buyer acknowledges that, except for express written warranties stated herein, Buyer accepts the vessel "AS IS, WHERE IS" with all faults. Any limited warranties provided by Seller must be identified in writing below.

Confidentiality

Each party shall treat non-public terms and business information disclosed in connection with this transaction as confidential and shall not disclose such information except to its advisors, as required by law, or with the prior written consent of the other party. Confidentiality obligations survive termination or completion of this agreement for a period of two (2) years.

Governing Law

This Receipt and any dispute arising out of or related to the transaction shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of law principles.

Entire Agreement

This Receipt, together with any written addenda or schedules signed by the parties, constitutes the entire agreement between Seller and Buyer with respect to the sale of the vessel and supersedes all prior negotiations, representations, or agreements, whether written or oral.

Acknowledgments and Delivery of Documents

The following documents are acknowledged as delivered or will be delivered at closing:

Bill of Sale

Signed Title / Certificate of Title

Registration / Proof of Ownership

If not yet delivered, expected delivery date of outstanding documents:

Miscellaneous Provisions

Severability: If any provision of this Receipt is held invalid, illegal or unenforceable, the remaining provisions remain in full force and effect. Headings are for convenience and do not affect interpretation.

Remedies: The parties may seek all remedies available at law or in equity, including specific performance, for breach of this Receipt.

Signatures

The undersigned acknowledge receipt of the amounts and items described above and certify that the statements contained in this Receipt are true and correct to the best of their knowledge.

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