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Financial Adminstration |
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Information |
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Client Bank Account |
Upon the owner's authorisation, a Clients Bank Account will be opened with HSBC, in the currency of the owner's choice. Every month or quarter (depending on the amount of transactions), the Clients Bank Account is balanced and a report is made to the owner.
The idea is to ensure that the yacht is run smoothly. Upon opening the Clients Bank Account, the owner credits the account with a pre-agreed amount. A minimum balance is maintained on the account, and credit top-up's are made by the owner when required.
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Credit & Debit Cards |
If a Clients Bank Account is opened and it maintains a minimal balance, then it is possible to organize Credit & Debit Cards; for use by the Captain and if necessary, other executive crew members,
Each card that is issued will have a pre-agreed spending limit. All the transactions will be regularly monitored
and all original receipts
will be held on file.
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Invoice Processing & Payments |
Simply it is verifying received invoices from suppliers of the goods and services to the yacht: And upon verification, paying them from the client's bank account.
During the season, often Captains just do not have the time to organize payments of invoices due to constant cruising or a busy schedule.
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Petty Cash-Cash To Master
(CTM)
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A service which ensures that the yacht has enough petty cash on board to meet miscellaneous expenses. The Captain is responsible for the everyday cash management and a monthly cash account statement is issued to the owner, showing clearly all transactions.
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Monthly Reporting |
Monthly Reporting are trading accounts showing any income against expenses, In the report, also shown is the projected budget with variations.
An important issue for any yacht owner, in order to keep control of the budget and to avoid any unexpected surprises.
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Budget Forecasting |
An annual budget is initially agreed with the Owner, Captain and other executive crew.
It is a balancing act:. If the budget is too low the standards and maintenance of the yacht will fall, and could even affect the re-sale value later on.
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Your Name:
Yacht's Name:
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Email:
Telephone mobile:
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Yacht's Build/Type:
(Eg. Heesen 42mtr, Mangusta 30mtr.)
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The Flag of the yacht:
(Eg. Cayman Islands, Malta etc)
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