This Agreement shall apply to all situations in which two or more persons or groups of persons share ownership of a boat and the use of a boat for recreational purposes. The agreement was reached to regulate the profession where only one owner lives in the boat at the same time. However, nothing prevents an owner from sharing time with another owner. Expected Costs – You can provide a list of taxes, registration, insurance, fuel, repairs, improvements, cleaning, maintenance, etc. Are all costs shared equally, that each partner uses the boat during their exclusive time of ownership? What happens if one of the partners is out of the country for a long time? Will the costs be redistributed? Can a partner freeze their subscription/payment during this period? How is the boat owned? Same parts depending on the number of partners or another arraignment. General maintenance and maintenance of the boat / operating expenses department – Will a new account be created for the partnership? Will partners deposit a fixed amount at the beginning of each year or will expenses be processed from month to month? However, running a business costs money, so between 2 and 10 owners is a matter of preference, whether you want the formality, costs and greater security of a corporate structure and shareholders` agreement, or the lower costs and comparative informality of an agreement like this. The aim of the agreement is to outline expectations and convey robust but « simple » English to all parties. It should be read in conjunction with the code of conduct of the Fractional Association which is the basis of the trade union agreement. The Fractional Association`s operating management program for common yachts has evolved over many years, and its syndicate agreement has been updated and modified over those years to remain relevant and always working with the evolution of operational experience resulting from the ever-increasing number of nautical unions and new owners of political groups around the world….