Management plays an important part in the success of each project but also in the maintenance and smooth running of services on board a unit we call “Yacht”, which must be managed as a company in its own right, with its flag representing its State, its Captain as director and its crew as employees.
Over the last three years, Unique Yachting Monaco has experienced a very honourable development and our ambitious objectives in terms of quality of welcome, service and sales should contribute to the animation of the hotel’s perimeters, constantly improving the welcome and seriousness in the Principality, further developing the Monegasque economy thanks to the direct and indirect spin-offs of the yachting industry and its constantly renewed clientele.
Full International Safety Management (ISM) & International Ship And Port Security (ISPS) code compliance. Class & Flag compliance
Unique Yachting Monaco will provide suitably qualified Crew for the Vessel as required by the Owner in accordance with the STCW 95 and/or flag state requirements, provision of which includes, but is not limited to, the following functions:
• Selecting and engaging the Vessel’s Crew, including payroll arrangements, pension, administration and insurances for the crew) ;
• Training the Vessel’s Crew, with Safety & Security program in conjunction with VT Flagship ;
• Ensuring that al applicable requirements of the law of flag of the vessel are satisfied in respect of manning levels, rank,qualification and certification of the Crew and Employment regulation including Crew’s tax, social insurance, discipline and other requirements ;
• Ensuring that all member of the Crew have passed a medical examination with a qualified doctor certifying that they are fit for duties of which they are engaged and are in possession of valid medical certificates issued in accordance with appropriate flag state requirements ;
• Ensuring that the Crew shall have a command of the English language (or other language required) of a sufficient standard to enable them to perform their duties safely.
• Arranging transportation of the Crew, including Repatriation;
• Conducting union negotiations;
• Applying union negotiations;
• Applying the Manager’s drug and alcohol policy unless otherwise agreed;
• Entering into a separate confidentiality agreement with each of its employees to protect the interests of the Owner and the Vessel.
Unique Yachting Monaco will provide technical management which includes, but is not limited to, the following functions:
- Provision of competent personnel to supervise the maintenance and general efficiency of the Vessel;
- Arrangement and supervision of warranty work, dry docking, repairs, alterations and the upkeep of the Vessel to the standards required by the Owner;
- Arrangement of the supply of necessary stores, spares and lubricating oil;
- Appointment of surveyors and technical consultants as UYM may consider from time to time as being necessary.
Unique Yachting Monaco will provide commercial operation of the Vessel, as required by the Owner, which includes, but is not limited to, the following functions:
- Providing chartering services in accordance with the Owner’s instructions which include, but are not limited to, seeking and negotiating employment for the Vessel and the conclusion (including the execution thereof) of charter parties relating to the employment of the Vessel;
- Arranging of the proper payment to the Owner or their nominees of all hire revenues or other monies of whatsoever nature to which the Owner may be entitled arising out of the employment of or otherwise in connection with the Vessel;
- Providing voyage estimates and accounts and calculating hire and operating costs due from or due to the Charterers of the Vessel;
- Charter: Unique Yachting Monaco shall act as exclusive charter agent and charter manager for the Vessel.
- Sale: Unique Yachting Monaco shall, in accordance with the Owners’ instructions, act as exclusive broker in respect of the sale of the Vessel, including the negotiation and supervision of same, and the execution of any sale agreement.
- Issuing of voyage instructions only as instructed by the Owner;
- Appointing agents only as instructed by the Owner;
- Arranging surveys associated with the operation of the Vessel only as instructed by the Owner.
Accounting services (financial management & budget)
Unique Yachting Monaco will:
- Establish an accounting system which meets the requirements of the Owner and provide regular accounting services; the reported month supply monthly reports with details and all corresponding supporting documents as well as records which shall include the preparation and presentation to the Owner of an annual budget of operating income and expenditure; an annual budget should be set each year, a final version of an annual budget should be submitted for the Owner’s consideration and approval each year.
- Maintain the records of all costs and expenditure incurred as well as data necessary or proper for the settlement of accounts between the parties;
- Keep accounting in accordance with the requirements of the pertinent legislation, as well as observe the terms of carrying out an audit and submit to a corresponding authorized body, duly executed annual returns.
- Ensure due notification of the Owner about creation of tax obligations as well as to provide tax calculation, planning and report (filing a tax return) by his own means or by means of the attracted third parties agreed with the Owner in advance.
- Provide tax consulting through UYM’s own means or by means of the contracted third parties agreed upon in advance with the Owner.
- Provide the Owner with full support of the Owner’s observance of the legislation requirements on different matters arising from or in connection therewith including, but not limited to, domiciliation and class of the Vessel.
Bunkering and provisions
Unique Yachting Monaco will:
- Arrange for the provision of bunker fuel of the quality specified by the Owner as required for the Vessel’s trade;
- Arrange for the supply of provisions.
Unique Yachting Monaco provides the Owner with monthly reports, and shall further provide detailed monthly reports on all matters relevant to the Management Services. The aforesaid reporting obligations are without prejudice to Unique Yachting Monaco’s obligation to report promptly to the Owner on all matters of a more urgent nature.
New Construction & Refit Project Management
Unique Yachting Monaco will assist you to carry out each new construction and refit stage, offering a skilled and multi disciplined approach to all aspects of yacht construction.