Are you in the market to buy or sell a vessel? If so, you are certainly not alone. In Canada, there is a healthy and robust secondary boat market. Boats are significant investments, and brand-new vessels can be cost-prohibitive for the average boater. Fortunately, there is great value to be found when purchasing a boat with a previous owner. If you are new to boat ownership and looking for just the right used vessel, or if you are a current boat owner looking to upgrade and move on from your current boat, you can expect to navigate some paperwork. One document of particular importance, as you will come to know, is the Form 6 Bill of Sale, which is processed with Transport Canada.
If you are a buyer, you have spent a considerable amount of time scouring digital and print listings looking for a boat, and you have successfully negotiated a price. Or, maybe you are a seller, and you have gone through the trouble of advertising your boat, ultimately finding a buyer at an agreed-upon price. Either way, you have come too far in the process to allow a paperwork snag to disrupt the sale. With this in mind, it is prudent to make sure that all of your documents are in good order, especially your bill of sale.
What Is a Form 6 Bill of Sale?
As you likely know, almost any time you make a purchase and money exchanges hands, a receipt is given. This is, of course, also true when a boat is sold. Form 6, in particular, is a bill of sale concerning a vessel that is registered with Transport Canada. Any time a registered vessel changes hands, this government agency requires a record of the transaction–this is accomplished with a bill of sale.
Your Form 6 will not be an overly complicated document. Essentially, it will include some information about the vessel, the buyer, the seller, and the agreed-upon price. This document can serve great utility down the road, so it is wise for the buyer to keep it in a safe location. You can complete your Form 6 by printing the PDF from Transport Canada’s website, filling it out by hand, and mailing it to the appropriate government office. Of course, you can also work with us at the National Vessel Registry Center and complete this process promptly online.
Do You Need to Register Your Vessel?
In Canada, vessel registration is compulsory for boats engaging in commercial activity. It is also required for boats traveling abroad, and for vessels that are financed with a marine mortgage. To register your vessel, you will need to complete an application and provide the bill of sale and photographs of all four sides of your boat.
We can help you with this and many other Transport Canada documentation matters. Take a minute or two to explore our site–you will find that we have a host of online forms for all of your needs. To learn more, contact us today.