Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Delivery definition

What does Delivery mean? Delivery, in practice, is the seller handing over possession or control of goods to the buyer or the buyer’s agent at the agreed time and place. In the UK and Ireland it is defined in statute as the voluntary transfer of possession from one person to another (sale of goods Act 1979, s 61(1); Sale of Goods Act (Northern Ireland) 1979; Sale of Goods Act 1893 (Ireland), as amended). Delivery concerns possession and is distinct from the passing of property (title). Key features include actual delivery, constructive delivery (for example, to a carrier or by attornment), and symbolic...

Second-hand commercial vessel sales: MoAs, SHIPSALE 22/NSF forms, inspections and delivery, title and encumbrances, SPVs, finance, insurance and arbitration (English law)

Published by a LexisNexis Banking & Finance expert

Practice notes

This Practice Note reviews a typical transaction for the sale and purchase of a second-hand commercial vessel and, in particular, addresses:

the main standard forms used in the market
the delivery process
transfer of title and risk
delivery free from encumbrances
the identity of the parties
the key considerations for financiers

For guidance on the steps to be taken and the documentation required when acting for a buyer of a vessel to be entered on the UK register, see: Shipping finance closure—checklist. Certain aspects of the sale and purchase of superyachts differ notably from comparable deals for commercial ships; for further detail, see Practice Note: Superyacht finance—sale and purchase of superyachts.

Memorandum of agreement

Many second-hand ship sales are arranged through sale and purchase brokers (widely known as ‘S&P’ brokers) acting for their clients (their principals). Negotiations usually progress through a sequence of written communications culminating in the ‘recap’. Subject to its terms, the recap may, or may not, amount to a legally binding agreement...

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Web page updated on 22/05/2026

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