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Certificate of Incumbency – A Case Study

Over the past few weeks, we’ve covered the ins and outs of boat registrations, as well as the “Who?” “What?””Why?”and “How” forCertificate of Incumbency Case Study a Certificate of Incumbency. Today we wrap it all up with a real-life case study of how a Certificate of Incumbency was able to help an international boat owner.

An international client needed to prove to Israeli authorities he was the rightful owner of his boat. The boat was registered under the name of a Limited Liability Company (LLC). This client in turn owned the LLC. Sounds simple enough, right? Wrong… A basic LLC formation document in Delaware does not list the owners of the entity. So, how does the client prove ownership then? One suggestion his legal counsel gave was to file an Amendment in Delaware adding an article to show he was the owner. However, this would mean the client’s personal information, such as home address would become public information, which was not an ideal solution for this client. In talking with the client about the situation, we mentioned we often provide a Certificate of Incumbency for international clients needing to prove ownership to banking officials.  The client asked for a sample document and conferred with his attorney. The attorney agreed the Certificate of Incumbency would sufficiently meet the needs to prove his ownership. The client provided us with all the necessary documentation. We then drafted the certificate, had it notarized, and sent it to the State of Delaware for an Apostille. The end result? A very happy client!

If you have additional questions or need assistance with obtaining a certificate, give us a call or email us. We’re always happy to help you out in any way we can. Just remember, we can’t give legal or tax advice. You’ll have to contact an attorney or CPA for that.

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Boat Registration Series Part 3-US Coast Guard Vessel Documentation

Our Delaware Boat Registration Series has covered how to register your boat in Delaware, as well as vessel documentation - cargo shiphow to renew, transfer and deflag or delete your boat registration. In this final blog of the Delaware Boat Registration Series, we won’t cover Delaware at all, but rather the US Coast Guard. Through the National Vessel Documentation Center, the US Coast Guard facilitates documentation.

What is vessel documentation? This is essentially federal level boat registration. However, not just anyone can register their boat or vessel with the US Coast Guard. There are specific requirements a vessel must meet.

What are the requirements for vessel documentation? A vessel must measure at least five net tons and be wholly owned by a US citizen.

What is net tonnage? Per the US Coast Guard, “Net tonnage is a volumetric measure of a vessel’s useful capacity, for which a number of different measurement systems are in use worldwide. U.S. law requires tonnage measurement for any vessel for which the application of a U.S. law depends on the vessel’s tonnage. Owners of U.S. vessels less than 79 feet in length may choose measurement under one of two older U.S. Formal Measurement Systems (the Standard or Dual Regulatory Measurement Systems), or the U.S. Simplified Regulatory Measurement System. The U.S. tonnage measurement program is administered by the Coast Guard Marine Safety Center (MSC).”

What are the requirements for vessel documentation? The basic requirements for US Coast Guard documentation are to demonstrate ownership of the vessel, US citizenship, and eligibility for the endorsement sought.

For more information about US Coast Guard vessel documentation, check out the National Vessel Documentation Center’s website. If you have additional questions or need assistance, give us a call or email us.

 

 

 

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Delaware Boat Registration Series – Part 2

Delaware boat registrationIn part one of our three part Delaware Boat Registration series we answered some frequently asked questions about how to register your boat in Delaware. Here in part two, we’re covering boat registration renewals, transfers, and deflagging/deleting.

When can I renew my Delaware boat registration? As mentioned in part one, Delaware boat registrations run on a calendar year. Beginning mid-October, registration renewal opens up. Therefore if your registration expires December 31st, you may renew beginning in mid-October.

What information do I need to renew my Delaware boat registration? You will need the information from your original registration, such as the hull number, boat registration/DL number and the exact individual or company name your boat is registered under. Please note if your boat is registered under a company name, the company needs to be in good standing with the State of Delaware and with its registered agent.

I need to renew, but my address needs to be changed. How do I change the address on my registration? Your address can be updated during the renewal or transfer process.

Can I use your address on my registration? Yes. If you’re an Incserv registered agent client, you can use our address on the registration.

How do I transfer my Delaware boat registration? Transferring registration is simple. You’ll need a notarized bill of sale and then you will complete a new application. For all the details on new applications, click here to check out part one of our series.

Can I deflag or delete my Delaware boat registration? Deleting your Delaware Boat registration is also commonly referred to as deflagging your boat. Like transferring registration, the process is easy. All you need is the registration number. This is the number that starts with DL on your registration card. The Delaware Department of Natural Resources (DNREC) can then produce a deletion letter. If the deletion letter needs to be apostilled for use abroad, we can help with that too!

As always, if you have additional questions or need assistance with boat registration, renewal, transfer, and/or deletion, give us a call or email us. We would be happy to help, as we courier boat registrations back and forth to DNREC several times a week for our clients.

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Delaware Boat Registration Series – Part 1

delaware boat registration“How does Delaware boat registration work?” or “I need to register my boat in Delaware. Can you help?”  are questions we often hear from clients.  Good news! The Delaware boat registration process is relatively quick and painless. Read on to get all the details broken down in an easy to follow question and answer format.

What documents will I need  for my Delaware boat registration?  All boats / vessels will need a completed Delaware Department of Natural Resources (DNREC) boat registration application.  New boats will also need a copy of the Manufacturer’s Certificate of Origin (MCO) or Builder’s Certificate assigned to purchaser(s) and Bill of Sale if Certificate of Origin or Builder’s Certificate is not assigned to purchaser(s), and a Federal or State Issued ID, such as a driver’s license or passport. For used boats, a copy of the title, registration (non-title states only), federal documentation (photocopy of seller’s most recent Certificate of Documentation), and if applicable, a lien release must accompany the application.  In many cases, a copy of notarized bill of sale with complete description of the vessel is also needed.

How long does the Delaware boat registration process take? Once we have all of your documentation, we can email you proof of registration within about three (3) business days. Originals will then be mailed or sent overnight.

What does the State of Delaware provide as proof of registration for my boat/vessel? DNREC provides a boat registration card and two (2) decals. A verification letter can also be obtained, if needed.

What does the Delaware boat registration card look like? The Delaware boat / vessel registration card is printed on white paper. They no longer provide a blue plastic registration card.

How long is Delaware boat registration good for? Delaware boat / vessel registrations are available in annual or three-year increments. Registration runs on a calendar year and is not prorated. Therefore, the fees will be the same and your registration will expire on December 31st, whether you register your boat/vessel in January or October.

What is the cost for a Delaware boat registration? Fees vary depending on the size of the boat and whether you choose a one (1) year or three (3) year registration term.  For example, in 2017,  a 10’ boat/vessel registered for one (1) year, is $20, but a 49’ boat / vessel registered for three (3) years is $300.

If you have additional questions or need assistance with Delaware boat registration, give us a call or email us. We would be happy to help, as we courier boat registrations back and forth to DNREC several times a week for our clients.