YACHT BROKERAGE OPEN LISTING AGREEMENT

On user registration date (indicate which capacity: sole owner, joint owners, or corporate owner), hereafter referred to as the OWNER, authorizes Arian Scarpino, hereafter referred to as the BROKER, to sell the yachts published on yachtsforsale.ch, form his account, hereafter referred to as the YACHT.

A. The YACHT shall be listed for a total asking price published on the site from user and shall not be advertised at any other price unless the OWNER notifies the BROKER of a price change.


B. The OWNER warrants that he has lawful right to sell the YACHT and agrees:


1. To furnish the BROKER with specifications, an inventory of the equipment to be included in the sale, a copy of the YACHT’s registration and/or document, and photographs of the YACHT (if available).


2. To pay the BROKER a commission equal to percent ( 5 %) of the selling price if the YACHT is in any manner sold, donated, traded, leased, or chartered (for more than one month) during the term of this agreement to any person or organization introduced to the YACHT and brought together through the efforts of the BROKER. The commission shall be based upon the contract price accepted by the OWNER prior to any adjustments made to compensate a buyer for defects or discrepancies revealed subsequent to the OWNER’S acceptance of an offer.


3. To supply the BROKER with the name of the purchaser so that the interests of brokers who may have introduced such prospects to the YACHT may be properly protected if the YACHT is sold during the term of the OWNER’s obligation to the BROKER under the provisions of this agreement. The OWNER further agrees to pay the commission specified above if within one year of this agreement’s termination the YACHT is sold, donated, traded, leased, or chartered (for more than one month) by the OWNER to any person or organization introduced to the YACHT by the BROKER where the parties were brought together through such efforts during the term of this agreement.


4. OWNER agrees that BROKER’s responsibility hereunder, in the event of a conflict of interest between BROKER, OWNER, and prospective buyer, is to undertake such acts and provide such information that will allow OWNER and prospective buyer to best utilize their independent judgment in reaching an agreement to enter into a yacht purchase and sale agreement.


C. The BROKER agrees:
1. To distribute information to prospective purchasers for the YACHT as the BROKER judges suitable.
2. To promptly transmit all offers to the OWNER.
3. To release the OWNER from this agreement if the OWNER enters into a central agency listing agreement with any bonafide, full time yacht brokerage company and notifies the BROKER of that central agency agreement.


D. Responsibility for the care, custody and control of the YACHT remains entirely with the OWNER. Although the BROKER may recommend storage, maintenance, and other providers of service, the final decision to employ such services remains with the OWNER. The BROKER shall not be held responsible for any damages suffered by the OWNER as a result of employing such services.


E. Unless terminated in accordance with Section C3 above, this agreement MAY ONLY BE CANCELED WITH SIXTY DAYS ADVANCE WRITTEN NOTICE and shall remain in effect for a minimum of 12
months, thereafter continuing until canceled. This agreement is binding on the OWNER’s heirs, executors, successors, administrators and assigns.


F. Any dispute, controversy or claim relating to this agreement, including but not limited to the interpretation thereof, or its breach or existence, which cannot be resolved amicably by the BROKER and OWNER shall be referred to arbitration which shall be the sole and exclusive forum for resolution and settlement of any dispute, controversy or claim between the parties. The arbitration shall be conducted in accordance with the Rules of the American Arbitration Association and shall be held in the city and state of the BROKER’s office. Any award of the arbitral authority shall be final and binding upon the BROKER and OWNER with respect to all disputes, claims or controversies encompassed therein, and the BROKER and OWNER shall comply with the said award without delay. The arbitral authority shall in its award, fix and apportion the costs of arbitration. The award of the arbitral authority may be enforced by any court having jurisdiction over the party against which the award had been rendered. The BROKER and OWNER agree that the issuance of an award by the arbitral authority shall be a condition precedent to the right of either party to institute any legal action or proceeding in any court on a matter relating to this agreement. The BROKER and OWNER further understand and agree that arbitration shall be the sole and exclusive forum for resolving any dispute, controversy or claim relating to this agreement and that neither party shall resort to any court except to compel arbitration, refer questions of law, or to confirm, vacate or modify any such award.