contracts for building

Im in the early stages of negotiating with a yard to have my vessel built. I wonder which party usually writes up the contract. Do I take my contract in hand to the yard, or does the yard usually have a cookie cutter contract that they require to be signed? How does this USUALLY work??

Thanks
James

 

Like any contract, it works in whichever way you agree to.

 

Who ever is giving the MONEY away, ALWAYS ALWAYS has a marine attorney draw up all the things, specifications he wants to be done, and at what prevailing quality level. Most important, THE BUILDER has NO RIGHTS to change ANYTHING without VERBAL AND WRITTEN PERMISSION. In short he does what you want or no deal. A good marine attorney is critical. DO NOT proceed without one. He should run interference for you, if you are doing this and not sure. Ask around for the GOOD and BAD ones. Need to know both. Good luck.