The specification
Against the yard
Holding construction to the document you signed, not to what is convenient.
You pay against verified progress
One accountable team between you and the yard: contract structure, milestone payments, weekly reporting, quality inspections and survey coordination.
Most build problems are management problems
Timber and laminate rarely fail. Schedules, specifications and payment discipline do.
Our project managers act as the owner representative inside the network: they hold the yard to the contractual specification, verify each milestone before money moves, and photograph and report weekly.
They also coordinate surveyors, class inspectors and equipment suppliers so decisions never wait on a time zone. For owners building from abroad, this is the difference between supervising a build and hoping about one.
- Photographic reporting
- Weekly
- Each verified before payment
- 6 milestones
- Available if you want it formalised
- Escrow
Contract and payment stages
Exact splits are contractual and vary by project. The principle does not.
Stage
Trigger
Share of contract
- Stage
- Signing
- Trigger
- Contract and specification fixed
- Share of contract
- 10 to 20 percent
- Stage
- Keel laying
- Trigger
- Timber or laminate verified on site
- Share of contract
- 15 to 20 percent
- Stage
- Hull complete
- Trigger
- Planking or moulding inspected
- Share of contract
- 20 to 25 percent
- Stage
- Systems installed
- Trigger
- Engines and electrical commissioned
- Share of contract
- 20 to 25 percent
- Stage
- Launch and sea trial
- Trigger
- Trials passed, defects listed
- Share of contract
- 10 to 15 percent
- Stage
- Handover
- Trigger
- Documentation and warranty delivered
- Share of contract
- 5 to 10 percent
Funds fall due only as verified progress is reached. Escrow arrangements are available for owners who want payment security formalised through a third party.
What the manager actually holds
Three jobs, none of which the yard foreman can do for you.
What handover actually delivers
A document set, not a handshake.
Specification
The build specification as executed, not as originally drawn.
Survey
Survey and stability records, and class certificates where applicable.
Warranties
Engine and systems warranties registered in your name.
Familiarisation
Crew familiarisation sign off before the boat leaves.
Defects
The defect liability terms the yard remains bound to.
Registration
Flag and registration paperwork, Indonesian or offshore.
We manage builds under our own program and, selectively, supervise owner contracted projects at third party yards.
Before you engage one
Keep reading
Engage a project manager
Start with the specification and schedule you already have, whoever is building the boat.