What is my Investment going to be?

Each owner pays the share purchase price applicable to the Syndicate they are joining. They then contribute to the annual operating costs such as mooring charges, insurance, licence etc. and also to each year’s maintenance costs.

What types of boats are available?

Executive Boat Syndicates specialises in sourcing near new or as new, fully and extensively optioned late model boats with low engine hours and where detailed service records are available. Or alternatively you can choose any boat you want and Executive Boat Syndicates will organise the syndicate for you. Final price of each vessel depends on any extras required and the negotiated purchase price.

How many Owners are there in a syndicate?

Executive Boat Syndicates considers eight (8) owners to be the best. However, we can arrange syndicates with either more or less owners if necessary.

Is there a Syndicate Agreement?

A formal agreement is drawn up between each owner and Executive Boat Syndicates. This is designed to protect the interests of all the owners and covers points that can arise in the operation of the syndicate.

How long do the Syndicates stay in existence?

The Syndicate lifetime is normally three (3) years however this may be extended if all owners agree. Upon expiry of the syndicate the boat will be offered on the open market by Executive Boat Syndicates and the proceeds from the sale would be split between the owners in proportion to their shareholding, less an industry standard commission.

Can I sell my share in the boat?

Yes you can.

Who looks after the boat?

Executive Boat Syndicates contracts operational and engineering support to maintain and service the boat. Executive Boat Syndicates also arranges essential scheduled maintenance programmes.

Will I meet other owners of the Syndicate?

Two meetings a year are scheduled for the Syndicate and owners will have the opportunity to meet at these times. These meetings enable the owners to mutually agree on the use of the boat for the coming year. It is also an opportunity to get to know fellow owners in an informal and relaxed setting.

Can I take friends along with me?

Guests are allowed as long as you or a named owner is on board at all times.

Can I entertain important clients or guests?

Yes, in fact we can organise catering and even a skipper who will drive and park the boat so that you can spend all your time with your important guests.

May the boat be hired out or offered for skippered hire?

There must be an owner on board the boat at all times and the boat MAY NOT BE HIRED OUT OR OFFERED FOR SKIPPERED HIRE. This would negate the classification of a recreational vessel and it would also have a significant impact on insurance costs.

How are the weeks allocated?

Each owner will be given a colour and number drawn by ballot. This will show on the calendar when each owner is entitled to the Boat. These periods can be swapped by mutual agreement with any owner.

How much time a year can we use the boat?

The concept is based on the Syndicate owners being joint owners of the boat and sharing the year between the owners. It is possible to take the boat out on a minimum of ten occasions each year. However, for those who want longer cruising there is no reason why you cannot use unwanted time of other owners of the Syndicate during the year. Remember, the only extra cost you incur for increased use of the boat is fuel.

Can weeks be swapped with other owners of the syndicate?

Once the initial allocation has been made each year, owners may then swap and change about in order to increase their time allocation or obtain consecutive time. All that is asked of you is that you keep Executive Boat Syndicates advised of any swap that you may make.

What is my investment going to be?

Each owner pays the share price applicable to the Syndicate they are joining. If there are 10 owners, they get five (5) weeks use of the boat, which represents a 10% shareholding.

Is this a time-share scheme?

Only in so far as the weeks during the year are shared between all the Syndicate owners. In every other aspect it is totally different. You do not have the same fixed weeks each year. There is no limit on how many weeks you actually take if they are available. Your only extra on-cost is for the fuel. Finally and most importantly you own the title to your share in one specific named boat and use of that boat is restricted solely to the named owners within that syndicate.

Why should I not go out and buy a boat for myself?

Apart form the large capital outlay, there are several reasons for not being the sole owner of such boat. These range from the operating costs through to the cleaning and maintenance obligations. Our research has indicated that most boat owners utilise their boat only up to four weeks per year.

Will I need training to use the boat? 

This will depend on your level of experience and confidence handling your boat. Executive Boat Syndicates will provide for all owners to be trained on the boat. Up to 12 hours of training is available. The training is provided at no additional cost.

What is expected of owners using the boats?

Each owner is responsible for the boat whilst it is under their control and for any self-inflicted damage such as damage to the carpets or upholstery and broken windows. The cost of any general problems that arise will be covered by the syndicate fund. Owners return the boat to the berth and may lock up and step off. Executive Boat Syndicates are then responsible for fuelling the boat at the owners cost, and cleaning contractors will carry out a thorough clean for the following owners.

What happens if the boat has a breakdown?

If you are on the boat and you have a breakdown that you are unable to fix yourself, you would make contact with our mechanic based in Port Adelaide. Once the breakdown has been rectified the cost would be billed to the Executive Boat Syndicates for payment out of the syndicate account. Payment for self-inflicted damage will always be the responsibility of each individual owner.

What happens if a syndicate owner breaks any of the rules?

Our Syndicate Agreement gives clear guidelines as to what happens if there is a contravention of the rules. The ultimate sanction is that the owner would be asked to sell their share and leave the syndicate.

What inventory is included on the boat?

The boats are equipped with a very comprehensive inventory including crockery, cutlery and linen. Safety equipment including life jackets for adults and an EPIRB are also supplied with the boat.

Who pays the annual maintenance?

The cost of the maintenance work is proportional to each owner’s shareholding. All the work carried out is to formally produced quotations and we use our contacts in the industry to find the most competitive and experienced labour.

Is the boat insured?

The boats are fully insured up to full replacement value. Each owner is responsible for the excess depending on any damage caused during his control of the boat. Any claims above this amount are covered by the boat insurance policy, and there is a third party liability as per policy. There is no cover for personal possessions or personal accident.

At what stage am I committed to proceeding with my purchase?

Only after you have finally signed a contract with Executive Boat Syndicates.

If I am interested in the idea how would I arrange to see one of the boats?

Please contact Jim or John to arrange an inspection of our boats.

John Flanigan 0419 855 700   john@executiveboatsyndicates.com.au

Jim Leahy        0428 888 219   jim@executiveboatsyndicates.com.au