Vessel Service Agreement

Terms and Conditions

1. Wilmington Marine and Owner (or Owner's representative) will work together to develop a Work Order, and Wilmington Marine will provide estimates for cost and delivery times for the requested services. Owner understands and acknowledges that given the uncertain nature of service work, including, but not limited to, scope and availability of parts, fluctuating market conditions, changing weather conditions, and requested Change Orders, the schedule for completion of work and cost estimates are subject to change.
2. No services will be performed until a signed Work Order (or subsequent Change Order) has been provided by the Owner to Wilmington Marine. For larger material purchases and special orders, Wilmington Marine may request a customer deposit.
3. Please refer to the price list for labor charges. Sales taxes and freight charges will be billed at cost.
4. Wilmington Marine will use ABYC Standards as a guide for specification of materials and design during the work process.
5. All invoices are due upon receipt and all charges must be paid before the Vessel departs Wilmington Marine's facility. Invoices remaining unpaid after thirty (30) days will be assessed a late charge of 1.5%, which will be applied to the outstanding balance.
6. Wilmington Marine reserves the right to stop work on a Work Order or Change Order and store the Vessel at the Owner's expense if payment is more than thirty (30) days late.
7. All Vessels must have vessel insurance, unless waived by the Yacht Yard Manager. Wilmington Marine must receive either a copy of the Declaration Page or Certificate of Insurance of the applicable insurance policy upon execution of the Agreement. Owner will indemnify, defend, and hold Wilmington Marine, Port Cape Fear, Inc., Port Cape Fear Associates, LLC, and Port Cape Fear Associates, LLC d/b/a/ Wilmington Marine Center and their affiliates, and their respective officers, directors, members, managers, employees, agents, contractors, successors, or assigns (collectively the "Wilmington Marine Parties" harmless from subrogation claims of his/her/its insurance company.
8. In the event Owner's contact information (address, phone number, and/or email address) changes, Owner must notify Wilmington Marine in writing of the change within ten (10) days.
9. Either Owner or Wilmington Marine may terminate this Agreement for any reason upon written notice to the other Party. Upon termination of this Agreement, Owner shall promptly pay any incurred charges and fees and remove the Vessel from the premises.
10. Owner grants to Wilmington Marine a lien on the vessel and a security interest therein to secure the payment of all fees, charges, or other sums due hereunder. Owner agrees to pay for all costs of collecting past due fees, charges, or other sums to Wilmington Marine, including collection costs and attorneys' fees.
11. TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, OWNER HEREBY AGREES THAT ITS EXCLUSIVE REMEDY FOR ANY CLAIM OR LOSS ARISING HEREUNDER SHALL BE LIMITED TO THE FEES PAID BY OWNER TO WILMINGTON MARINE PURSUANT HERETO AND THAT NONE OF THE WILMINGTON MARINE PARTIES SHALL BE LIABLE FOR ANY OHER DAMAGES, INCLUDING, BUT NOT LIMITED TO, INCIDENTAL CONSEQUENTIAL, LOST PROFITS, OR OTHER DAMAGES.
12. Owner assumes all risk associated with repairs made to the Vessel by Owner while the Vessel is located at the Wilmington Marine Facilities, and Owner my not use any of Wilmington Marine's equipment, tools, or supplies without express permission from Wilmington Marine. Owner releases the Wilmington Marine Parties from and against any and all liability, claims, damage, or causes of action of any kind related to the Vessel, it contents, gear, equipment, and any other property of Owner whatsoever, or for injuries to any persons or any property, including injuries resulting in death, whether or not such loss or damage shall have been caused by the fault or negligence of the Wilmington Marine Parties. Owner understands and acknowledges that all personal property should by removed from the Vessel and Wilmington Marine facilities an any time the Vessel is unattended by Owner.
13. Owner hereby agrees to indemnify, defend, and hold harmless the Wilmington Marine Parties from and against any loss, claim, demand, cause of action, or expense arising from or related to Owner's negligence, intentional misconduct, or breach of this Agreement.
14. Owner may not assume that Wilmington Marine's premises will be a safe, sheltered anchorage. Owner hereby acknowledges that the Wilmington Parties have no duty to secure vessels, protect vessels from damage or harm, or to present vessels from causing damage or harm to any person or property.
15. This Agreement constitutes a single, integrated agreement expressing the entire agreement of the parties relative to the specific subjects contained herein. No covenants, agreements, representations, or warranties of any kind whatsoever have been made by any party hereto in connection with the execution of this Agreement, except as specifically set forth in the Agreement. All prior agreements, discussions, and negotiations between the parties have been and are merged and integrated into, and are superseded by, this Agreement. No amendment or modification of the Agreement is valid unless executed in a written document that is signed and acknowledged by both parties hereto. A party's failure to enforce any provision herein does not constitute a waiver of its right to enforce such provision and/or the remainder of this Agreement at any subsequent time. This Agreement shall insure to the benefit of, and be binding upon, each party's heirs, legatees, devisees, estates, executors, administrators, successors, and assigns. Owner may not assign or delegate his/her/its rights or obligations hereunder without the prior written consent of Wilmington Marine. This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina without giving effect to the conflict of laws provisions thereof. Any dispute or controversy between the parties relating to this Agreement, its execution, validity, meaning, or performance thereunder, shall be determined exclusively by binding arbitration in New Hanover County, North Carolina before a sing arbitrator pursuant to Article 45C, G.S. 1-569.1, et seq., commonly known as the North Carolina Revised Uniform Arbitration Act in effect as of this date.