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4. FAQ's
This seems too good to be true!
The Catamaran Company has always been the best in everything related to Catamarans and we have subsequently invested a lot of time and effort into designing a program that provides an easy and affordable alternative to Yacht Ownership.
What is the monthly cost?
Depending on the program choice, monthly costs for a Lagoon 400 are approximately $1000.00. If you choose our Limited Charter Program, your monthly costs share will be covered.
What is the maximum number of Shareholders on a given yacht?
There will be no more than 5 owners and there could be less depending on the number of shares out of the 5 that have been purchased by each individual.
Am I a part-owner of the yacht when I join Cat.Co.?
Yes, you will be part-owner as a shareholder of an LLC.
Will my costs increase if there are fewer fractional owners available on the boat?
No, but you do have the opportunity to own more than one share.
How much money will I be required to pay when I join The Catamaran Company’s Fractional Program?
Although this is dependent on which yacht you hold a share in, using the Lagoon 400 (initial Fractional Yacht model), we are holding the price at $99,995.00 per 1/5th share. There is a small security deposit required at the time the vessel goes into service.
Do I need to sign a contract? Can I see it?
Our process in structured around option deposits where upon the execution of the option along with a $2,500.00 payment we will release all the related detailed agreements for your review. If you wish to proceed to a contract that you will sign, the deposit is increased. If you are not satisfied, the deposit is refundable.
What is the length of the commitment?
Three years.
Are there any additional maintenance/upkeep fees that will be assessed?
All costs are estimated in the related budgets provided for each share, outside of turnaround fees.
Can two people own one share?
Yes, but only one party will have the legal right to the share.
How do you schedule my usage?
There is a specific usage agreement attached to a Yacht Owners Master Operating Agreement that is part of the detailed documents, time is scheduled by each Shareholder via our yacht management teams’ reservation system in the British Virgin Islands.
How is the boat outfitted?
Each Yacht is equipped with all the necessary equipment to enjoy the area that the vessel is sailing.
Can I stay overnight on the yacht?
Yes, if within your scheduled week of usage.
Who is responsible for maintaining and cleaning the Yacht?
This is included in the normal turnaround fees attached to usage.
Who is responsible for re-fueling and pump-out of the Yacht?
Included via turnaround fees.
How do you handle irresponsible / uncooperative / non-paying Shareholders?
The Management Company handles any problems that might arise during the course of the agreement as defined via the management agreement.
Can I continuously get back-to-back sail times so long as no other Shareholder is using the time?
Yes, if the schedule of usage and available weeks permit.
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