GGC PTE.
LIMITED
SALES CONTRACT
Contract No. : 00012
Date: 08/04/2021
This boat sales contract (‘Contract”) is made and entered into on 08 April 2021 by and between the following
parties:
I. PARTY A
GGC PTE. LIMITED
Full name : GGC PTE. LIMITED
Address : 16th Floor, No. 65 Chulia Street Singapore 049513
Telephone : +61 488872157
Represented by : MR BEN MOREAU - TSY
Title : CHIEF OPERATING MANAGER/DIRECTOR
(Hereinafter referred to as “Seller” or “Party A”)
II. PARTY B
Full name : M/Y RHINO
Address : PO Box 9846, Greensboro, NC 27429
Telephone : +1 201 450 4247
Represented by : Captain Brook O'Neill
(Hereinafter referred to as “Purchaser” or “Party B)
Each of the Buyer or the Seller shall be individually referred to as “Party” and both of them shall be
collectively referred to as “Parties”.
WHEREAS: The Seller has entered into the Distribution Agreement dated October 7th 2020, with Azimut
Yachts (the "Builder"), pursuant to which Seller represent the Builder to sell one Yacht – Azimut Grande
25 Metri # 30, 2021 Year (the "Boat"), to be constructed at the Builder's facility located at Fano, Italy (the
"Shipyard");
WHEREAS: The Seller desires to sell to Purchaser, and Purchaser desires to purchase, the Boat upon its
delivery from the Builder to Seller.
NOW THEREFORE: In consideration of the premises and the covenants herein contained, and other good
and valuable consideration, the adequacy and receipt of which is hereby acknowledged, the parties hereto
agree as follows:
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 1 of 12
GGC PTE. LIMITED
PART I - PARTICULAR TERMS
Sale and Purchase. Seller hereby agrees to sell, convey and transfer to Purchaser, and Purchaser hereby
agrees to purchase from Seller, the Boat subject to the terms and conditions set forth in this Agreement.
1. Boat Descriptions
1.1 Plans and Specifications. The Boat shall in all respects meet the requirements set forth in Appendix
1 of this Agreement including without limitation the Specification referred to and described in
Appendix 1. thereof, all as modified with optional extras fitted on the Boat as listed in Appendix 2 of
this Agreement.
The Boat is being sold in accordance with the standard manufacturer's specifications, valid at the
time of the order.
If any additional work or change is performed by the Builder on the Boat pursuant to Article 2.1
thereof prior to delivery of the Boat to Purchaser, Seller shall cause the Builder to perform the same
work or change on the Boat at no cost to Purchaser.
1.2 Scope of Work
1.3 Workmanship And Materials.
Unless otherwise specifically provided in the Plans and Specifications, all workmanship, equipment,
materials, and articles incorporated in the Boat shall be new and of good marine quality and in
conformance with good commercial shipbuilding standards.
2. Price and Payment Term
2.1 CIF Price was agreed by The Parties detailed as below.
Total Price CIF:
in number: 4,888,000 USD
in text: Four Million Eight Hundred eighty-Eight Thousand
2.2 The payment of selling price (“Selling Price”) as stated above shall be made in accordance with the
following schedule and within immediately after receiving the debit note, with effect as from the
fulfilment of the conditions defined in the table below:
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 2 of 12
GGC PTE. LIMITED
Payments (non-refundable and non-
Due Dates Amount
creditable) %
First payment - Deposit: Immediately
from the signing date of this Contract and
Party B receive supporting documents as
below:
09/04/2021 35% 1,710,600 $
- The signed contract by two
Parties;
- Debit note
Second payment: 5 days before departure
from shipyard and after Party B receving
following documents form Party A:
- Debit note;
50% 2,444,000 $
- “Boat Ready Notice” from
shipyard
Last payment Before Delivery Date and
after Party B receing following
documents form Party A:
- Payment Request Document
- Invoice for 100% value
- The technical documents:
25/04/2021
detailed design documents, 15% 733,400 $
operating instructions;
- Warranty book;
- Builder Certificate
- Certificate of Origine
- Packing list
2.3 On the due date, the Buyer will make payment in US Dollars to the bank account of the Seller detailed
as below, or transfer to other bank account as assigned by the Seller in written, the Buyer will be
liable for the relevant fee/charges (if any).
ACCOUNT INFORMATION
Account Number (USD) : 2000737849
Swift code : CIBBSGSGXXX
Bank : CIMB Bank Berhad (Singapore Branch)
Address #09-01 Singapore Land Tower, 50 Raffles Place,
Singapore, 048623
Beneficiary : GGC PTE. LTD
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 3 of 12
GGC PTE. LIMITED
3. Delivery
3.1 Delivery Terms: COST + INSURANCE + FREIGHT (CIF) SINGAPORE
3.2 Delivery Date: estimated May 2021
Delivery date is anticipated and subjective to the manufacturer, shipping lines.
4. Other terms
4.1 Patent Infringement.
The Seller shall be responsible for any and all claims against Purchaser or the Boat for infringement
of patents, patent rights, copyrights or trademarks in the construction, in the use or in the sale of any of the
Boat as constructed by Seller and Seller shall defend, save harmless and indemnify Purchaser and the Boat
against all such claims and against all costs, expenses, charges and damages which Purchaser or the Boat may
be obligated to pay by reason thereof, including expenses of litigation, if any; which, during the performance
of this Agreement, nor shall Seller be obligated to indemnify Purchaser or the Boat for any infringement of
patents, patent rights, copyrights or trademarks resulting from compliance by Seller or Builder with any
specific written instructions of Purchaser relating to patent, trademark or copyright matters; provided, further,
that upon any such claim being made against said parties or any thereof, Seller shall be notified promptly of
such claim and also of any suit brought in connection therewith and shall be given an opportunity to defend
the same; and provided, further, that no payment on account of any such claim shall be made by Purchaser
unless with the consent of Seller or pursuant to the decree of a proper court.
4.2 Counterparts.
This Agreement may be executed in two or more counterparts and by means of original or facsimile
execution, each of which shall be deemed an original, but all of which together shall constitute one of the
same instrument.
4.3 This Contract is subject to the General Terms and Conditions in Part II hereof.
4.4 This Contract will come into force upon signature by both Parties and the first payment- Deposit
received within the validity time mentioned.
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 4 of 12
GGC PTE. LIMITED
Agreed and accepted by Seller Agreed and accepted by Buyer
Signature for: Signature for:
GGC PTE. LIMITED M/Y RHINO
_________________________________ _________________________________
Name: BEN MOREAU - TSY Name: CAPTAIN BROOK O'NEILL
Title: Chief Operating Officer/Director
Date: 09/04/2021 Date: 09/04/2021
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 5 of 12
GGC PTE. LIMITED
APPENDIX 1: Plans and Specifications
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 6 of 12
GGC PTE. LIMITED
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 7 of 12
GGC PTE. LIMITED
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 8 of 12
GGC PTE. LIMITED
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 9 of 12
Azimut 25
ENGINES: 2 x MAN 1.650 mHP
SPEED UP TO 28/24
GGC PTE. LIMITED
STANDARD BOAT Qty
Azimut25 1
APPENDIX 2: Options fitted on the Boat
Code OPTIONALS Qty
AZIMUT GRANDE 25 METRI #30
MAIN SYSTEM
CC00013510 2 x 1800HP MAN engines upgrade 1
CC00014127 Extra conduits for cables 1
CC00016963 Stabilizing fins (generator upgrade included) 1
CC00013770 Stern thruster 15 kW 1
CC00013774 Watermaker 130 l/h 1
EXTERIOR
CC00014509 Bench on bow convertible (electrically operated) with foldable table 1
CC00015332 Bow sun shade with removable carbon fiber poles for sunbathing area 1
CC00017618 Co-pilot seat on flybridge in Batyline fabric 1
CC00014383 Dimmer lights on exterior (cockpit and fly) 1
CC00013776 Electric awning for aft fly (requires hard top) 1
CC00014105 Electric searchlight 1
CC00013629 Flagpole 1
CC00015368 Hard top on flybridge 1
CC00015063 Hauling-launching system for tender 1
CC00014110 N.4 underwater lights Oceanled on transom 1
CC00013627 Pop-up cleats on swimming platform 1
CC00014179 Shore water plug 1
CC00014497 Table on bow (fixed) 1
CC00014438 Teak on flybridge 1
CC00014499 Upgraded standard external cushions in Batyline fabric (specify code) 1
INTERIOR
CC00013968 Additional folding bed in portside guest cabin 1
CC00014253 Bidet in master head 1
CC00013957 Maindeck lounge version 1
CC00014530 Mosquito net for portholes 1
CC00013637 Safe in master cabin 1
CC00014178 Third bed in crew cabin 1
APPLIANCES
CC00014230 Dishwasher 1
CC00014259 Icemaker in cockpit 1
CC00014180 Washer and dryer separate units in crew area 1
CC00014184 Winecooler in salon 1
ELECTRONICS
CC00014489 Raymarine AIS 700 1
CC00014483 Raymarine Gold package 1
VIDEO - TV - HI-FI
CC00014490 Audio/Video Package 1
DOCUMENTS AND COMMISSIONING
CC00014018 Builder Certificate 1
CC00014019 Certificate of Origin 1
CC00014020 Export documents 1
CC00014021 Partial cover for shipment 1
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 10 of 12
GGC PTE. LIMITED
APPENDIX 3:
GENERAL WARRANTY OF AZIMUT YACHTS
WARRANTY FOR YACHT OWNERS
This Warranty applies to all vessels purchased by private customers, even through leasing, and which are used
exclusively for pleasure yachting, with the exception of those destined for professional or business use, even
if on an occasional basis.
The Warranty for Yacht Owners covers:
1 Any defects in material or workmanship arising within 12 months from the delivery of the vessel.
2 Any structural defects to the hull which would make the vessel unsuitable for navigation, as well as any
formation of osmosis that may occur within 5 years from the delivery of the vessel, on condition that all
Scheduled Servicing has been performed as listed in this Warranty and Services Booklet.
The Warranty for Yacht Owners can be performed exclusively at one of the Azimut Assistance Centres
located throughout the world and it consists of the repair and/or replacement of the defective part or material
or in other words, of the elimination of the non-conformity, and it covers both parts and labour costs,
including, with reference solely to the warranty in the above subsection 1, the haulage and launch of the vessel
should it be strictly necessary for the performance of repairs. The Warranty is rendered null and void in cases
where the defect or non-conformity has not been promptly communicated in writing to Azimut - Benetti Spa
or to the Dealer who sold the vessel and in all cases, no more than 60 days from the discovery thereof.
The Warranty does not cover the following:
1 any defects in materials or workmanship arising after the Warranty period;
2 any defects not existing when the vessel was delivered, comprising those resulting from normal wear and
tear and including, by way of mere example and without limitation, batteries, bulbs and the deterioration of
gelcoat, paint, fabric, leather, wood, marble and natural stone;
3 any defects caused by failure or delay in applying the instructions contained in the owner’s manual and any
defects caused by failure or delay in carrying out Scheduled Servicing and in the case of the five-year
Warranty against structural hull defects and osmosis, in cases where Scheduled Servicing has not been
performed in due time, either wholly or in part, independently of whether or not said defects have caused the
structural defect or osmosis;
4 defects caused by improper use, abuse or use exceeding the recommended and permitted limits of the vessel,
including its use in sporting competitions of any nature whatsoever;
5 defects caused by incorrect or careless piloting of the vessel, specifically but not limited to adverse
weather/sea conditions;
6 defects caused through tardy repairs to components or parts;
7 defects on components not installed on the vessel by the Dealer or Azimut and any defects arising on the
vessel subsequent to the installation of said components on board;
8 apparent differences between furnishings, colours, fabric types and other materials or components and those
shown, for information purposes only, in advertisements and catalogues, as well as apparent differences in
the equipment and fittings on your vessel that were not the subject of specific objection during the pre-delivery
inspection;
9 exceptional use of the vessel without the express written approval of the boatyard;
10 transportation costs and expenses for taking the vessel to the yard where the works covered by the Warranty
will be performed;
11 direct or indirect damage linked to inability to use the vessel while repairs are carried out;
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 11 of 12
GGC PTE. LIMITED
12 engines and marine gears (see “Warranty for Engines and Marine Gears”).
WARRANTY FOR ENGINES, MARINE GEARS, AND FOR OTHER COMPONENTS SUCH AS
APPLIANCES, GENERATORS, ELECTRONICS.
The warranties of engines and marine gears installed on your vessel, as well as for other components, are
provided to Yacht Owners exclusively by their respective manufacturers as set forth by the terms and
conditions in their specific warranties.
The terms and conditions of said Warranties are found in the Warranty Certificates supplied by the
Manufacturers of these components, inside the Azimut Owner’s Case. Azimut shall have no obligation
whatsoever for any defect in the engines, marine gears and other components such as appliances, generators
and electronics.
Man engines warranty is 3 years full warranty with additional 2 years on main componet
GGC PTE. LIMITED
16th Floor, No. 65 Chulia Street Singapore 049513
Page 12 of 12