Due diligence
Pre-Purchase Surveys
How to scope an independent condition survey and use the report in a purchase decision.
A survey is an independent opinion on condition at a point in time, within an agreed scope. It does not replace sea trials, engineering review, class records, flag requirements or specialist inspections where those are relevant.
Set scope before attendance
Select a surveyor with relevant vessel and trade experience, agree access, haul-out or underwater inspection needs, and identify engines, machinery, safety systems and records to be reviewed. Clarify who receives the report and any reliance limitations.
Coordinate the survey with sea trial, oil analysis, moisture testing, class or flag review and repair-yard access when appropriate. Limited access should be recorded as a limitation, not ignored.
Use findings commercially
Ask for clear condition, deficiencies, safety concerns, estimated urgency and supporting photographs. Distinguish routine maintenance from defects that impair value, seaworthiness or intended operation.
Give timely notice under the purchase agreement. Preserve evidence and obtain repair estimates before negotiating credit, repair obligations or acceptance.
Buyer checklist
- Appoint a suitably experienced independent surveyor.
- Agree survey scope, access and report recipient.
- Plan haul-out, sea trial and specialist tests.
- Log deficiencies with cost and operational impact.
- Give contract-compliant notice of material findings.
Put the plan into a controlled workflow
Create a transaction to coordinate parties, documents, diligence and closing milestones, or explore the marketplace with your broker.
Related guidance
Vessel Due Diligence
A buyer-led investigation plan covering asset condition, title, operations and transaction readiness.
Vessel Purchase Agreements
Commercial terms and risk allocation to settle before a vessel sale closes.
Vessel Closing
A controlled sequence for documents, funds, delivery and post-closing filings.