MARINE SURVEY AND ITS

PURPOSES
A marine survey is a report written by a
marine surveyor after an onsite
inspection of a wide variety of different
things. Typically marine surveyors are
called to assess commercial marine
vessels such as passenger and cargo
ships, tugboats, pleasure craft and
ferries. They also assess cargos carried,
how they are loaded and how much
cargo is being carried.
MARINE SURVEY
 Theyassess marine facilities such as dry docks,
canals and port facilities. Marine surveyors
inspect and report on damage to ships and
boats and their cargos. In most cases the
purpose of the survey is to ascertain the
condition and value of the vessels or their
cargos for financial, insurance, purchasing
information or to confirm that vessels meet
regulation requirements and fulfill regulatory
compliance issues.

MARINE SURVEY
The need or must have surveys will
generally be required by an insurance
company or financial institution prior to
approving insurance policies or financial
arrangements. Insurance companies
require surveys prior to issuing insurance
policies for the first time and often
require them periodically over the
course of insurance policy renewals.
PURPOSE
A marine survey often referred to as a Condition and
Valuation survey can be conducted to confirm the
condition of the vessel for the buyer or seller and to assess
the current value. This provides the seller or buyer with
detailed information about the condition of the vessel and
its various parts and recommendations for repairs and
maintenance that is or soon will be required. It also provides
a value and replacement value for the vessel. Since the
surveyor should be at arms length from the purchase/sale
transaction it should be an un-biased appraisal. This same
survey would generally be sufficient to meet the
requirements of the insurance companies and the financial
institutions.
PURPOSE
Boat owners may also find it beneficial to employ
a surveyor when dealing with damage to their
boats and making claims against insurance
policies. Insurance companies employ or contract
surveyors to assess damages and identify causes
of damages claimed against their policies.
Sometimes having a surveyor working on your
behalf may help to simplify and streamline the
claims process.

PURPOSE