It is important to have submitted all the details of your boat or yacht correctly. This will help the documentation to be processed faster. There are many people who have found themselves waiting for months because of submitting incorrect documents. You will need to fill out a proper Bill of Sale form in order to get your documentation. This is an important document that will assist with getting your vessel approved in a timely manner. Here is why you need to fill out a proper Bill of Sale Form.
1. Ownership Verification
A vessel is like any asset such as property. It needs to have a proper documentation and the proper Bill of Sale form is one of the requirements. You can only get the documentation after filling this form. It must be noted that the documentation has many benefits. This includes getting special protection when the vessel is in international waters. The boat is recognized as belonging to the property of the United States. All the commercial vessels are required having this documentation. The recreational boats can choose whether to have United States documentation or they can be registered in their states where they operate.
2. Every New Owner Fills out Proper Bill of Sale Form
When you have a new vessel you will be required to fill out the proper Bill of Sale form. The documentation will be processed for you to get the ownership of the boat. If you are purchasing a vessel from the previous owner, the documentation is already available. However, the previous owner has to give you the documentation. This will be used to process your own documents. The application process will be done for you to get the documentation as it is not transferable. A bill of sale is required the real ownership of the vessel. They will not process the documentation if the bill of sale is not available.
3. Service Companies
There are several registered service companies that process the documentation on your behalf. The process can be confusing and errors in filling out the forms can cost you a lot. This will be wasted time and the re-submission needs extra fees. The fees are non-refundable and this means if the application is not approved, you have to pay more money. Unfortunately, it can sometimes take a few weeks or even months to get feedback on your application. The service companies make things easier as they evaluate the applications before they are submitted. The application can be done online. This means that you can do it any place where you are comfortable.
4. Filling out Proper Bill of Sale Form
There are several security measures implemented to document a vessel. For starters, all the commercial vessels are required to have U.S. vessel documentation. The federal law demands that the boat owners should provide more information. The Bill of Sale allows access to information for their records. This information also helps the federal government to monitor the number of vessels legally sailing in the waters. For more information or questions please email firstname.lastname@example.org