Our Pre-purchase surveys are conducted with the buyer’s interests first and foremost in mind. Pre-purchase surveys, of needs, differ from and are significantly more detailed than the more common Condition/Valuation (C/V) surveys which are performed primarily for the purpose of determining insurability for an insurance underwriter and/or value for an institutional lender.
In general, the primary purpose of a C/V survey is to determine whether the subject vessel represents an “average” underwriting risk. Such surveys are, therefore, of limited value, and may indeed be misleading, if used as the sole basis for a purchase decision. In contrast, a our pre-purchase surveys seek to determine whether the subject vessel has any actual or potential problems — structural, mechanical, electrical, or cosmetic — that might impact a buyer and future owner, independent of considerations relating to insurability and financing. Our pre-purchase surveys involve exceedingly detailed inspection and, where indicated, non-destructive testing of ship's structure, electrical, plumbing, machinery, and electronics.
As part of our pre-purchase survey, we commission and direct an extensive engine survey; and we conduct meaningful sea trials, during which we measure and record actual torque and horsepower production. As indicated and appropriate, we also commission and direct electrics and electronics surveys by appropriately qualified specialists.
In sum, we work for a potential buyer to define in rigorous detail any potential exposure he or she might face in terms of refit, repair, and/or maintenance costs, and to help that buyer evaluate any indicated corrections in a reasonable and accurate cost/benefit perspective.
We also provide, as required, in-process survey and inspection during the course of both new construction and major refit work, as well as classification and certification liaison services.
Contact us today for more information and samples of past work.
Port Royal Group ...because experience always matters.
Copyright © 2010-2013 by Port Royal Group LLC
2831 NE 9th Street, Pompano Beach, FL 33062
TEL: 954-224-2145 - E-mail: info@portroyalgroup.com
