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Keep it

Classy

10 May 2023

Last revised

minutes

3

Reading time

While adherence to classification society Rules is often mandatory, don’t think of these organisations as being there to impose health and safety restrictions and add to an already considerable mound of paperwork. They have their limitations, but they are useful sources of technical knowhow, and their experts can add real value to your build.

minutes

3

Reading time

10 May 2023

Last revised

While adherence to classification society Rules is often mandatory, don’t think of these organisations as being there to impose health and safety restrictions and add to an already considerable mound of paperwork. They have their limitations, but they are useful sources of technical knowhow, and their experts can add real value to your build.

  • Classification societies establish and apply standards (Rules) for design, construction, and maintenance of yachts, focusing on technical aspects.

  • Building and keeping a yacht in Class can boost resale value and ensure compliance with Flag State requirements and insurance policies.

  • Classification societies can provide additional consultancy services during builds and refits, assisting with design development.

  • The connection between classification and insurance dates back to the 17th century, with societies like Lloyd's Register providing vessel information to underwriters.

  • The leading classification societies are members of the International Association of Classification Societies (IACS), which aids in developing regulations.

  • Societies have limitations, including their focus on physical aspects and potential reliance on sampling instead of full examinations due to their experience with larger ships.

  • Claims against societies for mistakes during the build or regular surveys can be challenging due to the choice of law, historical links to specific countries, and liability exclusions in the agreement.

  • When choosing a society, consider membership in IACS, acceptance by insurance underwriters, openness to new ideas, and a deep understanding of large yachts.

  • Establish a good working relationship with the society's surveyor, considering them as an integral part of the build team.

  • Classification does not guarantee build quality or vessel maintenance; it primarily focuses on technical compliance.

  • Societies have limitations, including their focus on physical aspects and potential reliance on sampling instead of full examinations due to their experience with larger ships.

  • Claims against societies for mistakes during the build or regular surveys can be challenging due to the choice of law, historical links to specific countries, and liability exclusions in the agreement.

  • When choosing a society, consider membership in IACS, acceptance by insurance underwriters, openness to new ideas, and a deep understanding of large yachts.

  • Establish a good working relationship with the society's surveyor, considering them as an integral part of the build team.

  • Classification does not guarantee build quality or vessel maintenance; it primarily focuses on technical compliance.