If you have a documented vessel, you have a documented vessel number. You may wonder why you would want to get your vessel documented and how the process would work. There are many benefits to getting your documented vessel numbers, but it’s not for everyone. Some vessels have to be documented, whereas others shouldn’t be documented. Below, we’ll touch on some benefits of documentation as well as how you can make sure that your vessel is in compliance with the proper form of documentation no matter what.
US Coast Guard Documentation
To be clear, we’re discussing documenting your vessel with the Coast Guard, not with your state. That’s an entirely different kind of documentation. This documentation is federal, registered with the Coast Guard itself. Your vessel may not need this kind of documentation. For example, this documentation concerns commercial vessels that are five net tons or more. By that same token, pleasure vessels that are five net tons or more may also be documented, too. A good rule of thumb: if your vessel is more than 25 feet in length, then it will almost assuredly weigh more than five net tons.
Benefits of a Documented Vessel Number
Financing is one of the biggest advantages that comes from receiving this documentation. A strong majority of lenders require this kind of documentation if you want to get financing. When you have this kind of documentation, then their interest can be secured by a Preferred Ship’s Mortgage. Without this documentation, it can be extremely hard (if not flat out impossible) get a lender who will give you financing.
Typically, people who get this kind of documentation for their vessels find that they have better assurance of the vessel’s title. The US Coast Guard , after all, is a federal agency. Thus, states may not have as strict of title requirements as the USCG does. It’s easy to follow and check ownership, encumbrances, liens and more when it’s time to sell the vessel as well.
To get this kind of documentation, you have to be the owner of the vessel and a US citizen. When you purchase a used vessel from someone, you have to show the bill of sale or something else that shows the last person who owned the vessel has now transferred it to you. If the boat hasn’t been completed yet or is entirely new, then you have to submit what’s called a “Builder’s Certification.” You can also show a copy of the State Title or Registration, Manufacturer’s’ Certificate of Origin, or other similar forms.
One Place for Documentation
No matter what kind of documentation you need of your vessel, you can find it at our site. There, we have all of the USCG forms that vessel owners just like you require. Initial registration, renewal and more are all at our site in an easy to fill out form. If you have any questions about which documents are right for your vessel, don’t hesitate to call us at (800) 535-8570.