Common use of BROKERAGE SALES Clause in Contracts

BROKERAGE SALES. The yard facilities may not be used for solicitation, advertising, or any other business purposes, except by the yard or its permittees. The boat owner agrees that the yard does not assume any liability associated with outside brokers, prospective buyers or other interested persons boarding boats at its facilities, where the yard has no reasonable way to identify such persons or to determine the scope of their authorization or to prevent damage or losses to the boarded boats or to those boats nearby as a result of such activities. If the boat owner desires, the yard will make said listing available to other yacht brokers and show such boat to the yacht broker’s prospective buyer with the understanding that if the boat is sold by another broker, the yard will participate in the brokerage commission to the extent that is customary in the trade. PAYMENT- All invoices under this agreement shall be due and payable at the time rendered. Full payment of all Xxxxxx Marine invoices is required before the boat is launched or allowed to leave the yard. The yard reserves the right and shall have the power to retain possession and control of the boat, its engines, equipment and appurtenances, without process of law until all invoices are paid. The boat owner and yard agree and stipulate that if the boat leaves the yard’s facilities with or without the yard’s consent prior to full payment of all amounts currently due from time to time, the yard shall not lose any of its rights to payment, to any liens under State or Federal (including Federal maritime) laws against the boat, etc., or to regain possession (with or without process of law) and to hold it again thereafter until paid in full. No release of possession of the boat by the yard shall be construed as or operate to create a waiver or surrender of any rights or remedies hereunder by the yard. The boat owner further covenants and agrees that a service charge shall be payable on any and all balances due 30 days or longer, at the rate of 1.5% per month (18% per year) on outstanding balances. DISPUTE RESOLUTION- The boat owner acknowledges that the withholding of payment shall not be an acceptable form of dispute resolution. In the event that the boat owner and the yard are unable to agree on the amount due for work performed or services rendered, such disagreement shall be settled as follows: Any complaint about the quality, adequacy or totality of work performed shall obligate the yard to nothing more than the correcting of such validity demonstrated defects at no additional cost to the boat owner. Any claim of unreasonable charges shall entitle the boat owner solely to a detailed written and itemized accounting of the charges. In the event that the boat has left the yard, the boat owner accepts full financial responsibility for returning it to the yard for complaints to be assessed and repairs, if any, to be made. In cases in which work is performed by another company to repair an alleged inadequacy of the yard’s work, excluding repairs that are immediately necessary to the safety and welfare of the boat and its crew, that work shall indisputably release the yard from any obligation to correct or discount the work initially performed.