Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 16-11-2010, 23:42   #1
Registered User

Join Date: Nov 2010
Posts: 2
Cooling Off Period on New Yatchs ?

I have just signed a contract for a new yatch yesterday. I have payed a ten percent deposit. This morning i was offered a different new yatch (the one I originally wanted) for an excellent price. Is there usually a cooling off period immediately after signing a contract??

I am located in Australia
__________________

__________________
andy2290 is offline   Reply With Quote
Old 16-11-2010, 23:49   #2
Registered User
 
Johnathon123's Avatar

Join Date: Oct 2009
Location: Northern NSW Australia
Boat: Maurice Griffiths 40
Posts: 737
Quote:
Originally Posted by andy2290 View Post
I have just signed a contract for a new yatch yesterday. I have payed a ten percent deposit. This morning i was offered a different new yatch (the one I originally wanted) for an excellent price. Is there usually a cooling off period immediately after signing a contract??
What country are you in?
__________________

__________________
James

"I get knocked down but I get up again" eventually.
Johnathon123 is offline   Reply With Quote
Old 17-11-2010, 00:02   #3
Registered User

Join Date: Nov 2010
Posts: 2
Melbourne, Australia
__________________
andy2290 is offline   Reply With Quote
Old 17-11-2010, 00:09   #4
Registered User
 
Johnathon123's Avatar

Join Date: Oct 2009
Location: Northern NSW Australia
Boat: Maurice Griffiths 40
Posts: 737
I would consult the boating industry association (bia) asap.

Generally you can't but you would need to read the terms very carefully. If the contract is considered unfair your lawyer might be able to get the contract set aside?..

Alternatively, talk to the dealer, ask them to on sell your boat as ordered asap to the next purchaser, you will need to pay his commission but that might be a small cost.

With the new new boat you could also tell them the situation and tell them they have to on sell the old new boat as a condition of buying a new new boat.

Remember the waterfront is a small community, best not to make enemies!
__________________
James

"I get knocked down but I get up again" eventually.
Johnathon123 is offline   Reply With Quote
Old 17-11-2010, 00:10   #5
Registered User

Join Date: Jun 2010
Posts: 392
Call consumer affairs, you might have a week, so move quickly.

http://www.consumer.vic.gov.au/CA256...=Home~&2=~&3=~
__________________
olaf hart is online now   Reply With Quote
Old 17-11-2010, 08:04   #6
Registered User

Join Date: Dec 2008
Location: Oriental, NC
Boat: Mainship Pilot 34
Posts: 1,429
In the US the standard Yacht Brokers Association of America contract has a provision that the sale is subject to satisfactory survey and seatrial. In this case you might have to pay a surveyor to do a survey but anything can be considered unsatisfactory. Work iwth your broker to resolve this problem.

David
__________________
djmarchand is offline   Reply With Quote
Old 17-11-2010, 08:31   #7
Long Range Cruiser
 
MarkJ's Avatar

Cruisers Forum Supporter

Join Date: Dec 2007
Location: Australian living on "Sea Life" currently in England.
Boat: Beneteau 393 "Sea Life"
Posts: 12,828
Images: 25
I think all conract for purchases in Aus have a 7 day cooling of period.
Check it out quickly
__________________
Notes on a Circumnavigation.
OurLifeAtSea.com

Somalia Pirates and our Convoy
MarkJ is offline   Reply With Quote
Old 17-11-2010, 08:34   #8
Registered User

Join Date: Nov 2009
Location: USA
Boat: Cape Dory
Posts: 439
Whatever the law is, inform them immediately. If it is a boat of any size, its probably best to have an attorney draft the letter for you. In towns with any sizable boating culture you'll find lawyers who have experience handling boat transactions. Remember -- even if the law is against you, they may let you out -- often people are wise enough to know: better no customer than an unhappy customer.
Luck!
__________________
Mambo is offline   Reply With Quote
Old 18-11-2010, 01:41   #9
Certifiable Refitter/Senior Wannbe
 
Wotname's Avatar

Cruisers Forum Supporter

Join Date: Jan 2008
Location: South of 43 S, Australia
Boat: Van DeStat Super Dogger 31'
Posts: 7,331
Quote:
Originally Posted by andy2290 View Post
I have just signed a contract for a new yatch yesterday. I have payed a ten percent deposit. This morning i was offered a different new yatch (the one I originally wanted) for an excellent price. Is there usually a cooling off period immediately after signing a contract??

I am located in Australia
Do you mean new new (like ex factory) or just new to you?
__________________

__________________
All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find it was vanity: but the dreamers of the day are dangereous men, for they may act their dreams with open eyes, to make it possible. T.E. Lawrence
Wotname is online now   Reply With Quote
Reply

Tags
contract

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fresh Water Cooling riptide Engines and Propulsion Systems 3 28-07-2009 10:59
Keel cooling clarity36 Engines and Propulsion Systems 3 22-02-2009 22:51
anyone know what cooling unit is? cgraham86@austin.rr.com Plumbing Systems and Fixtures 7 22-02-2008 01:18
Islander yatchs charley Monohull Sailboats 15 24-10-2007 16:38
Yanmar cooling question Tropic Cat Engines and Propulsion Systems 5 04-07-2006 18:27



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 03:48.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.