FAQ

Our commitment to excellent service for our clients has resulted in a strategic partnership with ShipBid. This leading online auction platform for registered ships, yachts and floating materials gives us the opportunity to present your offer Europe-wide and achieve the best market price.

An important advantage is the solid legal framework of ShipBid. Thanks to supervision by notaries and bailiffs, a seamless and legally compliant transfer of ownership is guaranteed.

We are convinced that this partnership adds significant value – for both buyers and sellers in the maritime sector.

The application of VAT rules always depends on the nature of the transaction and whether it takes place within a single Member State or is cross-border.

Within Belgium: for transactions between two Belgian entrepreneurs, Article 42, §1 applies. This means that no VAT is charged.

Within France: VAT is payable on every transfer, at the rate applicable at the time.

Within the Netherlands: Article 37d makes it possible to shift the VAT, provided certain specific conditions are met. Both seller and buyer must own only one ship, used exclusively for commercial navigation and not for trade. If these conditions are not met, VAT is due.

Within the European Union: for sales between businesses in different Member States, VAT may be shifted under the intra-community supply scheme.

At GSK Brokers, our tax specialist is always consulted for every transaction to determine which VAT regime applies to the transfer.

When selling a ship registered in the Netherlands that is intended for transfer to another Member State, deregistration from the Dutch Land Registry is required. This step can only be carried out with the involvement of a notary.

If a ship registered in the Netherlands is sold to a buyer who wishes to keep the registration in the Dutch Land Registry, this procedure requires the involvement of a notary. This essential step can only be executed by a notary, provided that the purchase price is safeguarded on a third-party account and that a release statement is supplied by any mortgage lender, if there is a registered mortgage. After these steps, the notary, using the signed transfer deed, can officially record the transfer of ownership of the ship. At this stage, an existing mortgage can also be discharged and, if necessary, a new mortgage registered on the ship.

A ship registered in the Belgian Ship Register and sold to a buyer who wishes to keep it registered there can be dealt with by a private individual or a notary.

In our role as broker, we can only undertake this essential step once we are informed of the conditions under which any mortgage lender is prepared to cancel the registered mortgage. We then put these questions to the mortgage lender and submit the answer to the buyer’s credit provider. This way, we achieve agreement for the transfer of ownership, including registration and deposit of the informal purchase agreement. As you may have gathered, it is possible for every individual to organise this, but we strongly advise engaging a broker or notary to ensure you do not acquire a vessel on which an old mortgage is still in force.

A ship that is registered in the Belgian register and sold to a buyer who intends to register the vessel in another Member State can have this procedure initiated by any individual or a notary. In our capacity as broker, we can also coordinate this step, provided we have insight into the conditions under which a mortgage holder agrees to cancel the registered mortgage. In addition, the buyer must provide a guarantee to the mortgage holder, ensuring that the full purchase price will be paid upon receipt of the following specific documents:

• A signed copy of the private deed
• A negative mortgage certificate
• Proof of cancellation

Once this guarantee has been received, the mortgage holder will file the release deed with the Ship Register Office, after which the cancellation can be effected by an individual, notary, or ship broker. Once the required documents have been issued, the buyer will have the opportunity to register the ship in the Member State of their choice.

In the Netherlands and Germany, this too will be arranged via a notary, while in other Member States the procedure may be carried out by a private individual or in collaboration with the ship broker.

In the sale of a ship, it is essential that the buyer can be confident that their purchase matches the agreed price and that the ship is in good condition. Although there is no strict legal framework for the conditions of a ship sale, over the years an informal arrangement has emerged.

Because a buyer cannot inspect below the waterline during a viewing and cannot always be aware of all applicable safety regulations, it is expected that the buyer will haul the ship out at a shipyard and invite a certified inspector to conduct a thorough assessment of the vessel for integrity and compliance with the ESTRIN requirements applicable at the time.

This also goes for moving parts such as the main engine, gearbox, bow thruster and all other elements as agreed between the involved parties. All this is done with the understanding that the condition of these elements is assessed based on their performance at the time of purchase, checking for any damage and consistency with the number of hours run. The cost of this inspection is borne by the buyer.

Administrative costs for updating the ship's documents are also the buyer's responsibility.

The costs arising from the inspections carried out are paid by the buyer, with a maximum limit for these costs always established during negotiations. If these costs exceed the set limit, the agreement becomes subject to further discussion. A positive outcome leads to completion of the delivery, while in the case of a negative outcome, the costs the buyer incurred for inspections must be refunded by the seller. This concept is known as 'inspection at the seller’s risk'.

When a buyer wants to purchase a ship and asks the seller whether the ship is in good condition, the seller answers affirmatively. Nevertheless, the seller offers the possibility for an inspection at the buyer's expense, because he is confident the ship is in order. To avoid immediately cancelling the sale, the seller proposes a sum for repairs of any faults that may be revealed by the inspection, matters he could not predict at the time of negotiation. If it turns out the identified issues greatly exceed the repair amount, then the seller was mistaken; the ship is not as good as claimed. During the discussion, agreement may still be reached, confirming the ship is, after all, in order. Should this not be the case, and the seller has been wrong, the inspection costs must be reimbursed by the seller.

At GSK Brokers, we strive to assist our clients in determining a suitable price. After a personal visit onboard, we compare the collected information to vessels in the same category we have sold in the last 12 months. Using this data, we can accurately position the ship based on age and equipment and provide a well-founded estimate. This offers a different view of the market. Many clients look at the prices of ships still for sale, but it’s important to realise that an asking price is not the same as an actual sale price, which is not always made public. Of course, the seller always retains the right to set their own asking price.

GSK Brokers fully commits to an extensive marketing campaign, which, in addition to regular channels like the website and social media, also includes exhibition participation both nationally and internationally, targeted seminars, and even unconventional approaches like moving boxes. Our mission is to bring your ship to the widest possible audience of potential buyers, ensuring a quick and successful sale at the best price.

You can visit any Member State to update the required documents for a sale.

In Belgium, you can go to Binnenvaartloket.

In the Netherlands, SAB is responsible.

In France, DRIEA, DTT or DDTM, depending on the district, handles your ship's documents.

In Germany, Wasserstrassen und Schiffahrtsamt or WSA deals with the changes.

But don’t worry. If the transaction goes through our office, we’re happy to take on this task for you. By the time you’ve unpacked the GSK Brokers moving boxes, we will have sorted all the documents in your name and you’ll be ready to set sail right away.

Hire purchase, also known as "installment purchase" or "hire-purchase arrangement", is a financial scheme in which an individual, such as in this case, can acquire a ship through periodic payments over a set period. During this period, the individual enjoys the ship as if it were already theirs, though legal ownership remains with the selling party until the full purchase price has been paid.

The foundation of hire purchase lies in making the market more accessible to people who cannot immediately pay the full price for the ship. The ship is, in effect, ‘hired’ until the agreed sum is paid, after which the buyer acquires full ownership.

During the hire purchase period, the responsibilities typically lie with the buyer, such as maintenance and insurance, because they actually operate the ship. However, if payments are stopped before the full price is paid, the seller retains the right to reclaim the ship, since legal ownership still rests with them.

It is important to note that the specific conditions and regulations surrounding hire purchase can vary depending on the jurisdiction in which it is applied. It is always wise to review the contract terms carefully and to seek professional advice if necessary before entering into a hire purchase agreement.

We are happy to assist you in this process.

Mission

"GSK Brokers supports entrepreneurs in the inland navigation sector with the right strategy and vessels to build a successful career."

Vision

"It is a privilege to guide someone through transferring one of their most valuable assets, and we will also ensure that this transfer becomes an unforgettable experience."

Dissolving and suspensive conditions are two legal terms used in contracts and agreements to direct the execution or validity of the contract based on specific circumstances. Here is the distinction between these two types of conditions:

1. Suspensive condition:

An example of a suspensive condition is buying a ship on the condition of obtaining a mortgage. If the buyer does not obtain the mortgage according to the agreed conditions, the purchase agreement does not come into effect.

Suspensive condition:

A suspensive condition is a stipulation that must be fulfilled before the contract actually takes effect. In other words, the obligations and rights under the contract do not yet become effective until the condition has been satisfied. If the condition is not met, the agreement does not come into effect. Once the condition is fulfilled, the contract becomes binding and both parties must fulfil their obligations.

For example, the purchase of a ship on the condition of obtaining a mortgage. If the buyer cannot secure the mortgage according to the specified terms, the purchase agreement is not implemented.

2. Dissolving condition:

Dissolving condition:

A dissolving condition is a provision which, if not fulfilled, can terminate the contract afterwards. In other words, the contract is initially valid, but if the dissolving condition is not met, either party has the right to terminate the agreement with no further consequences.

An example of a dissolving condition is an inspection indicating that the parties have the right to cancel the contract if the required certification does not produce a positive outcome.

In essence, suspensive conditions affect the commencement of the contract and make it dependent on the fulfilment of the condition, whereas dissolving

conditions can terminate the contract after it has come into effect if the condition is not satisfied. It is essential to describe and include these concepts clearly in contracts to avoid confusion and legal disputes."

A purchase is usually concluded as soon as the buyer and seller agree on the essential terms of the transaction, often referred to as "concluding the agreement" or the "purchase being effected".

Several crucial elements are important for concluding a purchase:

Offer: An offer is an explicit statement by one party (the seller) to the other party (the buyer) indicating that they are willing to sell a good or service under specific terms.

Acceptance: Acceptance occurs when the other party (the buyer) agrees to the terms of the offer. This can be done orally, in writing or even tacitly, depending on the situation.

Mutual agreement: Clear mutual agreement between the buyer and seller is essential about the terms of the transaction. This means both parties are on the same page and agree to the offer and acceptance.

Consideration: Consideration refers to the price paid for the good or service. Both parties must agree on the price the buyer will pay the seller.

Once these elements are fulfilled and there is agreement, the purchase is concluded and both parties are bound by the agreement. It is important to note that variations can exist in laws and regulations regarding when a purchase is concluded, depending on the legal jurisdiction and the type of good or service being traded. Therefore, it is advisable to seek legal advice if there are any doubts about a specific situation.

So sometimes a handshake or a GSK Brokers coaster will suffice.

At GSK Brokers, we understand that selling ships outside the European Union (EU) can be a complex process, as each country has its own specific rules and requirements. Our expertise goes beyond just the EU market, and we are experienced with transactions outside the EU. If you are considering selling your ship outside the EU, we recommend contacting us for a free consultation. We can put you in touch with the right authorities and experts familiar with the regulations in the country concerned.

Our goal is to help you achieve your maritime business ambitions, wherever in the world you wish to operate.

So don't hesitate to get in touch with us if you are considering selling your ship outside the EU, whether for customs formalities, taxes or other legal aspects. We are ready to support you and guide you through the complex regulations to ensure your international maritime transaction is a success.

At GSK Brokers, we understand the importance of inspections in both the purchase/sale and the conversion/refurbishment of ships. These inspections are an integral part of the whole process and contribute to the quality and reliability of your investment.

Our role goes further than facilitating transactions or guiding refurbishments. We also take the responsibility of recommending reliable partners for inspections and ensuring these inspections take place according to the latest regulations.

Whether it's inspecting a ship before you purchase it, or a thorough survey during a refurbishment, GSK Brokers is by your side to ensure the processes go smoothly and meet the highest standards. Our advice and recommendations are based on years of experience and in-depth knowledge of the sector.

GSK Brokers sees inspections as an integral part of your purchase/sale or refurbishment project. We aim to provide you with reliable advice and guarantee that all inspections are conducted according to the latest regulations, so you can invest in your maritime activities with confidence.

At GSK Brokers, we can assist with newbuild projects of all types and sizes. Our commitment to providing high-quality services covers not only the purchase and sale of ships, but also guiding newbuild projects. What sets us apart is that we possess all the necessary knowledge and expertise in-house, including experienced ship designers, to make your newbuild project a success.

When you work with GSK Brokers, you can count on reliable partners who work closely with you to realise your vision. Whether building a completely new vessel or modifying existing designs, our teams are ready to guide you in every step of the process.

We understand that successful newbuild projects depend on precision, expertise, and thorough knowledge of the maritime industry. At GSK Brokers, we bring all these elements together to ensure your newbuild project meets the highest standards and exceeds your expectations.

With our in-house expertise and reliable partnerships, we are dedicated to the success of your project, no matter how big or complex.

At GSK Brokers you can not only come for the purchase and sale of ships, but also for conversion and refurbishment. We understand that your maritime projects may range from buying new vessels to adapting existing ships to your specific needs. That's why we have the right partners and expertise to help you realise your dream project.

Whether you want to adapt a ship to better suit your business activities, or you dream of a fully bespoke vessel, at GSK Brokers our commitment is to make your vision reality. We work to the current standards and regulations in the maritime sector to ensure your project meets the highest quality standards as well as all legal requirements.

You, the customer, are central to our efforts to make your maritime projects a success. At GSK Brokers, we do everything to support you in achieving your goals, be it the purchase, sale, conversion or refurbishment of ships. We are your reliable partner throughout the process, ready to turn your dreams into reality.

At GSK Brokers, we play a crucial role as brokers in the purchase and sale of ships within the maritime industry. It's important to stress that our services clearly differ from simple 'trading in ships', as this is not our area of expertise at GSK Brokers.

A trader is someone who acquires products as their own property with the intention of reselling them, which essentially forms their business model. A practical example of this is a shop owner who buys pasta in bulk to sell in their own shop.

A broker on the other hand acts as an intermediary who connects two or more parties in order to trade goods or services in exchange for a commission. A concrete example of this is a travel agent who sells a trip to Thailand to a family, making the sale on a commission basis. The agent connects the travellers with the tour operator and receives a fee for assisting in the transaction.

Our expertise goes beyond merely facilitating transactions. Besides connecting buyers and sellers, we also provide, upon request, support to traders in ships with administration and advice. We understand that a smooth and legally correct transfer of ownership is of utmost importance in accordance with prevailing laws and regulations.

At GSK Brokers, we take our role as broker very seriously. Our customers can rely on our commitment to quality and professionalism at every stage of the process.

We guarantee expert guidance in the purchase and sale of vessels.

GSK Brokers has always focused on young starters in the maritime sector. We strongly believe in the potential of new talent and give extra attention to these up-and-coming professionals. After all, they represent the future of our inland navigation industry and are crucial to keeping the sector viable and innovative.

At GSK Brokers, we go beyond just welcoming young talent. We strive to offer solutions and opportunities to help them thrive in an ever-evolving maritime world. Our expertise, rooted in more than 30 years' experience, means we understand the sector's evolution and can anticipate new challenges and opportunities.

We are happy to share our knowledge and expertise with the new generation and value our relationships with investors and other key stakeholders in the sector. This enables us to offer valuable insights and support, allowing them to flourish in a demanding business environment.

GSK Brokers is not just a leading player in the maritime sector, but a partner investing in the future by supporting young starters. Together, we are building a strong, resilient future for inland navigation.

At GSK Brokers, we strive to create a diverse and inclusive working environment, where different offices, languages and cultures play a vital role. There are several reasons why we consciously choose this diversity:

• European reach: As an internationally operating company with clients all over Europe, it is very important to adopt a multicultural approach. By having staff who speak different languages and are familiar with a range of cultures, we can better serve our clients and understand their needs.
• Local expertise: Our diverse teams, spread across different offices, give us valuable local knowledge. They understand the specific challenges and opportunities in their regions and can develop tailored solutions that meet the needs of our/their clients.
• Creative innovation: Diversity stimulates creativity and innovation. By bringing people with various backgrounds and perspectives together, we can generate original ideas and develop innovative solutions to complex business challenges.
• Inclusive company culture: At GSK Brokers, we aim for an inclusive culture in which every employee feels valued and respected, regardless of their background. This fosters a positive working environment and ensures that every team member can contribute to our combined success.
• Customer satisfaction: By ensuring diversity and inclusion within our company, we can better respond to the varied needs of our clients. This leads to greater customer satisfaction and strengthens our reputation as a reliable partner in the maritime brokerage world.

In short, the presence of different offices, languages and cultures at GSK Brokers is a deliberate choice to strengthen our European presence, enhance our service delivery, encourage innovation and promote an inclusive working environment. It is part of our commitment to continue growing and excelling as brokers in the inland navigation sector.

The question often asked is why GSK Brokers does what they do. Our answer is simple: it is the inspiration and deeply-rooted passion for what we do that drives us every day. At GSK Brokers, it’s not just a job; it’s a calling, a dedication to helping people and organisations achieve their maritime goals.

Our team is driven by a love for the maritime world and a desire to support others in achieving their ambitions in this sector. Whether it’s buying or selling ships, newbuild projects, inspections, or advice, we are always fully committed and passionate about helping our clients.

We are fortunate to do what we truly love: helping people. It gives us great satisfaction to see how our efforts lead to successful transactions, dream projects brought to life, and satisfied clients who rely on our expertise.

When clients contact us after a successful transaction and leave positive feedback on social media, send an email, or deliver flowers or a thoughtful gift to express their gratitude, we feel deep satisfaction. In such moments, we feel valued and affirmed in our professional commitment, which gives us a sense of fulfilment that is hard to match. It serves as tangible confirmation of our work and the value we bring to our valued clients.

You may have further questions; we invite you to consult our website. If you cannot find the answer on our website, we warmly invite you to contact us by phone or by email, or via the contact form on our website. We are more than happy to assist you further.