DISBURSEMENT OF FUNDS Template

Date of Issuance: [Date]

Escrow Agent/Bank Name: [Escrow Agent or Bank Name]
Escrow Account Number: [Account Number]
Escrow Agent/Bank Contact Information:

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

SELLER INFORMATION

Seller's Name: [Full Name or Company Name]
Seller's Address: [Street Address, City, State, Postal Code]
Seller's Contact Information:

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

BUYER INFORMATION

Buyer's Name: [Full Name or Company Name]
Buyer's Address: [Street Address, City, State, Postal Code]
Buyer’s Contact Information:

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

VESSEL INFORMATION

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]
Purchase Price of Vessel: [Purchase Price]
Effective Date of Transaction: [Transaction Date]

DISBURSEMENT DETAILS

Description	Amount (USD)
Total Purchase Price	[Purchase Price]
Sales Tax (if applicable)	[Sales Tax Amount]
Brokerage Fees (if applicable)	[Brokerage Fees]
Inspection Fees (if applicable)	[Inspection Fees]
Other Fees (if applicable)	[Other Fees, e.g., Registration Fees]
Total Funds to be Disbursed	[Total Amount to be Disbursed]

DISBURSEMENT INSTRUCTIONS

The following instructions outline how the funds are to be disbursed from the escrow account:

Recipient Name: [Name of the party receiving funds]
Recipient Bank: [Bank Name]
Recipient Account Number: [Account Number]
Recipient SWIFT/BIC Code (if applicable): [SWIFT/BIC Code]
Recipient Routing Number: [Routing Number]
Amount to be Disbursed to Recipient: [Amount]

Please ensure that all information is accurate for prompt transfer of funds.

AUTHORIZED SIGNATORIES

The undersigned authorized signatories hereby instruct the Escrow Agent/Bank to disburse the funds according to the details specified above:

Seller's Authorized Signatory:

Name: [Full Name]
Title: [Title]
Signature: ________________________
Date: [Date]

Buyer's Authorized Signatory:

Name: [Full Name]
Title: [Title]
Signature: ________________________
Date: [Date]

ESCROW AGENT/BANK VERIFICATION

I hereby acknowledge the instructions provided in this Disbursement of Funds document and confirm that the disbursement will be processed accordingly, subject to the availability of funds in the escrow account and the satisfaction of all conditions outlined in the agreement.

Escrow Agent/Bank Representative:

Name: [Full Name]
Title: [Title]
Signature: ________________________
Date: [Date]

COMMENTS AND NOTES

Funds Availability: Funds will only be disbursed after the successful completion of all necessary conditions outlined in the vessel purchase agreement, including but not limited to the successful transfer of ownership and clearance of any liens or encumbrances.
Disbursement Confirmation: Upon disbursement of the funds, the Escrow Agent/Bank will issue a confirmation receipt to all parties involved.
Escrow Fees: The parties acknowledge that any fees associated with the escrow account and disbursement process are the responsibility of [Seller/Buyer/Other party] as per the terms of the escrow agreement.

CONTACT INFORMATION

For inquiries or further information regarding this disbursement, please contact:

Escrow Agent/Bank Contact: [Contact Name or Department]
Phone Number: [Phone Number]
Email Address: [Email Address]