Invoices

Invoices will be sent via email. This will contain a PDF version of the invoice and a link to a web-based invoice. Through either of these you may pay via card or bank transfer. We reserve the right not to accept cash as a form of payment. All invoices are due within seven (7) days of the invoice date. Late payments will incur interest at a rate of the Bank of England base rate plus eight percent (8%) per annum, calculated daily on a simple basis from the due date until payment is received in full. We reserve the right to recover reasonable and proportionate costs actually incurred in recovering overdue sums, including court fees and enforcement costs. Any discrepancies should be notified within three (3) days of receipt of the invoice. Until full payment is received, Insignia Maritime Ltd shall have a possessory lien over the vessel, trailer, equipment, and any associated property in our custody in respect of all unpaid sums. The lien shall apply to all sums due to us under any contract with the owner, whether relating to storage, repairs, materials, or any other services. We reserve the right to retain possession of the vessel and associated property until all outstanding sums are paid in full. Storage charges will continue to accrue whilst any sums remain unpaid and whilst the vessel remains in our possession. No failure or delay by us in exercising any right or remedy shall constitute a waiver of that right or remedy. “Owner” includes the legal owner, beneficial owner, and any person instructing us in relation to the vessel.

Storage and Power of Sale

Where any invoice remains unpaid and the vessel remains in our possession, we reserve the right, after giving written notice, to sell the vessel and/or any associated property in accordance with the provisions of the Torts (Interference with Goods) Act 1977.

Written notice will specify:

• The amount due
• The intention to sell
• The date after which sale may take place, which shall be no less than 21 days from the date of service

Notices may be served by email or by post to the last known address provided by the owner. Notice shall be deemed served 48 hours after posting or on transmission by email. If payment in full is not received within the period specified in the notice, we may sell the vessel at market value. 

From the proceeds of sale, we shall deduct:

• All outstanding sums
• Accrued storage charges
• Interest
• Reasonable costs of sale

Any remaining balance will be returned to the legal owner. We shall not be responsible for any reduction in value arising from reasonable storage or deterioration prior to sale.

If a vessel remains uncollected for more than 30 days after written request for collection, it shall be treated as uncollected goods for the purposes of the Torts (Interference with Goods) Act 1977. We reserve the right to continue charging storage and to sell the vessel in accordance with that Act.

Monthly Storage

Unless noted otherwise, monthly storage invoices are sent on the first (1st) of each calendar month. Storage invoices are charged for one (1) calendar month in advance. For example, an invoice dated the first (1st) of August covers storage charges until the thirty-first (31st) of August. If the vessel remains stored within the yard on the first (1st) of the month, an invoice will be issued for that month’s storage fees. If you intend to move the vessel before this date, please notify us in advance. Where shorter storage periods are agreed, storage will be invoiced at the end of the agreed period. If the vessel remains beyond that period, monthly invoicing will resume. If a vessel is brought into the yard before the first (1st) of the month, storage will be charged daily until that date and added to the next invoice. We reserve the right to move the vessel within or outside the yard for operational, safety, or storage purposes. Any reasonable costs incurred may be charged to the owner.

Access and Risk

All persons working on vessels within the yard do so at their own risk and agree to comply with yard rules. Insignia Maritime Ltd accepts no liability for personal injury or damage arising from unauthorised or unsafe activity within the yard. Copies of the yard rules are available upon request. The owner is responsible for maintaining adequate insurance for the vessel at all times whilst stored at our premises. We accept no responsibility for loss or damage unless caused by our negligence. Nothing in these terms excludes or limits liability for death or personal injury caused by our negligence, or for any other liability which cannot lawfully be excluded. Subject to the above, our total liability for loss or damage to any vessel or property shall be limited to the market value of the vessel at the time of loss or damage. These terms shall be governed by and construed in accordance with the laws of England and Wales and any dispute shall be subject to the exclusive jurisdiction of the courts of England and Wales. These terms constitute the entire agreement between the parties and supersede any prior discussions or representations.

Version: February 2026

Last updated: 13/02/2026