This Power of Attorney ("Agreement") is made and entered into on this [Date], by and between:

Principal Name: [Principal's Full Legal Name]
Principal Address: [Street Address, City, State, Postal Code]
Principal Contact Information:

  • Phone Number: [Phone Number]
  • Email Address: [Email Address]

Attorney-in-Fact Name: [Attorney-in-Fact's Full Legal Name or Company Name]
Attorney-in-Fact Address: [Street Address, City, State, Postal Code]
Attorney-in-Fact Contact Information:

  • Phone Number: [Phone Number]
  • Email Address: [Email Address]

1. APPOINTMENT OF ATTORNEY-IN-FACT

The Principal hereby appoints the following individual or entity as their Attorney-in-Fact:

  • Name of Attorney-in-Fact: [Attorney-in-Fact's Full Name or Company Name]
  • Relationship to Principal: [Relationship (e.g., lawyer, business partner, agent)]

The Attorney-in-Fact is authorized to act on behalf of the Principal in all matters related to the vessel described below and to perform all actions related to the ownership, sale, management, or transfer of the Vessel.

2. VESSEL INFORMATION

The Vessel covered by this Power of Attorney is described as follows:

  • Vessel Name: [Vessel Name]
  • Vessel Type: [Type of Vessel (e.g., Yacht, Cargo Ship, Fishing Vessel)]
  • Hull Number (or VIN if applicable): [Hull Number or Identification Number]
  • IMO Number (if applicable): [IMO Number]
  • Year of Manufacture: [Year]
  • Registration Number: [Vessel’s Registration Number]
  • Location of Vessel: [Location where the Vessel is registered or based]

3. POWERS GRANTED TO ATTORNEY-IN-FACT

The Principal grants the Attorney-in-Fact full authority to perform any and all acts necessary in connection with the following:

  1. Sale or Transfer of Vessel

    • The authority to negotiate, execute, and sign any contracts, agreements, or documents related to the sale or transfer of the Vessel.
    • The authority to accept or reject offers and negotiate terms for the sale of the Vessel.
    • The authority to accept payment, discharge obligations, and transfer the title to the Vessel to the Buyer.

  2. Vessel Registration and Documentation

    • The authority to file documents with governmental authorities related to the registration, deregistration, and transfer of ownership of the Vessel.
    • The authority to renew or change the registration, renew the vessel’s certificates of inspection or insurance, and comply with maritime laws.

  3. Vessel Operations and Maintenance

    • The authority to manage the operational affairs of the Vessel, including the hiring of crew, managing maintenance, and overseeing day-to-day operations.
    • The authority to authorize repairs, maintenance, or upgrades to the Vessel, including payment for such services.

  4. Insurance and Financial Matters

    • The authority to obtain and maintain insurance on the Vessel, including but not limited to hull and machinery insurance, P&I (Protection and Indemnity) insurance, and any other relevant policies.
    • The authority to settle claims and manage insurance matters in relation to the Vessel.

  5. Legal and Regulatory Matters

    • The authority to represent the Principal in legal matters involving the Vessel, including disputes with third parties, authorities, or insurance companies.
    • The authority to sign any documents related to the settlement or defense of claims, including the settlement of maritime liens.

4. LIMITATIONS AND CONDITIONS

This Power of Attorney is subject to the following limitations:

  • The Attorney-in-Fact may not sell or transfer the Vessel to themselves or any related party unless specifically authorized in writing by the Principal.
  • The Attorney-in-Fact must act in the best interests of the Principal and provide the Principal with periodic updates or reports on the actions taken on their behalf.
  • The Attorney-in-Fact may not delegate their authority to any third party without the prior written consent of the Principal.

5. DURATION OF AUTHORITY

This Power of Attorney shall remain in effect until:

  • The completion of the sale or transfer of the Vessel, or
  • The Principal revokes the Power of Attorney by written notice to the Attorney-in-Fact, or
  • The Principal’s death or incapacity, whichever occurs first.

6. REVOCATION

The Principal may revoke this Power of Attorney at any time by providing written notice to the Attorney-in-Fact. Such revocation shall be effective immediately upon receipt of the notice by the Attorney-in-Fact.

7. GOVERNING LAW

This Power of Attorney shall be governed by and construed in accordance with the laws of the [State/Country], without regard to its conflict of law provisions.

8. ENTIRE AGREEMENT

This document constitutes the entire agreement between the parties regarding the subject matter hereof. Any modifications, amendments, or additional powers must be made in writing and signed by the Principal.

9. SIGNATURES AND ACKNOWLEDGMENT

IN WITNESS WHEREOF, the undersigned have executed this Power of Attorney as of the day and year first above written.

Principal’s Signature:

  • Name: [Principal's Full Name]
  • Title: [Principal’s Title, if applicable]
  • Signature: ________________________
  • Date: [Date]

Attorney-in-Fact’s Signature:

  • Name: [Attorney-in-Fact’s Full Name]
  • Title: [Attorney-in-Fact’s Title, if applicable]
  • Signature: ________________________
  • Date: [Date]

Notary Acknowledgment (if required):

State of ____________
County of ___________

On this ________ day of _______, 20, before me, a Notary Public in and for said state, personally appeared [Principal’s Name] and [Attorney-in-Fact's Name], known to me to be the persons whose names are subscribed to the foregoing instrument and acknowledged to me that they executed the same for the purposes therein contained.

Notary Public Signature: _______________________
Notary Seal
My Commission Expires: _____________