Our Florida Maritime Law Firm Assists With Financing Foreign Flag Vessels

The legal team at Miller Law, PLLC in Palm Beach, Florida is experienced in maritime law, including vessel purchase transactions, chartering and alternative vessel operations, sales, and collateralization of both US and foreign flag vessels. It is always in your interest to secure legal advice when buying a vessel. Regardless of your level of experience or understanding of maritime law, a seasoned attorney will generally have more resources at his/her disposal, and can be a powerful negotiator on your behalf. Attorney Matt Miller has long-standing relationships with prominent yacht lenders and he can help you finance a foreign flag vessel. Contact our Florida maritime financing law firm to understand more about the UCC’s perfection requirements and financing a foreign ship.

UCC’s “Perfecting” Collateral in Relation to Foreign Flag Vessels

The UCC, or Uniform Commercial Code, is a large body of rules written in an effort to make US business laws highly consistent. Establishing “perfection” against non-vessel collateral, or providing enough collateral, in the purchase of a foreign flag vessel can include obtaining security interests in charter parties, freights, insurance proceeds, rights to the vessel to which the owner may become entitled over time, etc. (Equipment Leasing, Matthew Bender).

It is important to keep in mind that the perfection requirements may vary across borders since it is a term constructed by the UCC, and not necessarily universally understood. Miller Law, PLLC offers comprehensive legal services in the acquisition process of both US and foreign flag vessels. Attorney Miller consults with clients to understand their goals, assists with lender negotiations, and drafts exhaustive contracts with client interest in mind. Contact our Maritime law firm in Palm Beach, Florida to receive more information.

Contact Our Firm—Foreign Flag Financing Law Firm in Florida

Attorney Miller is an avid boater and dedicated Florida maritime attorney providing comprehensive legal services, including purchase transactions, chartering, and ship financing services. The Miller Law, PLLC legal team is committed to helping clients achieve desired results. Contact Matt Miller today for your initial consultation at (561) 316-2032 or contact us online to get started.