Kate Boats Hire Fleet Sponsorship
Sponsorship agreement

The operator shall have the absolute right to use the Boat for hire and reward and shall be entitled to hire the Boat to such persons as it thinks fit (The Hirers).

The Operator shall pay to the Owners 40% (dropping to 30%  of all hire fees collected from the Hirers after deduction of Value Added Tax

Payments to the Owner shall be made monthly, in the month following the hire taking place.

Initial painting of the Boat and subsequent repaints in the Operators livery will be the responsibility of the Operator. It is not the Operators responsibility to repaint the boat at the termination of the agreement.

The Operator shall maintain the boat to a good standard in a fit and workable state for hire except when the boat is in the Owners possession.

The operator shall pay the British Waterways hire licence and any expensed to maintain the Boat during the period of this agreement.

If any component or sub assembly of the Boat valued at more than £250 requires replacement, the Owner shall pay for the materials and of subcontractors at cost and the Operator shall provide all required labour at no charge to the Owner.

The inventory of the Boat will be provided by and will remain the property of the Operator

Throughout the term of this agreement the Operator shall comprehensively insure the Boat for its full replacement value.

The Boat shall at all times remain the property of the owner.

At the end of this agreement the Operator shall make the Boat available to the Owner without delay in a fit and workable state for hire excepting fair wear and tear. The Owner shall without delay arrange the removal of the Boat from the Operator’s premises unless agreed otherwise in t writing with the Operator.

Should the Owner wish to sell the Boat during the term of the agreement this may only take place if the incoming Owner accepts this agreement and allowed it to run its full course, unless the Operator agrees in writing prior to the sale to release the Boat from this agreement.

Any sale of the Boat during the term of this agreement, where it is intended for this agreement to remain in force, requires written agreement form the Operator; such agreement shall not be unreasonably withheld.

In the event that damage to the Boat renders it unsuitable for the balance of this agreement, then this agreement shall terminate forthwith.

Should this agreement be terminated prematurely for whatever reason the Operator shall only be liable for any costs and or expenses incurred up to the termination of the agreement.

Termination shall be by notification in writing to the other party not later than 1st May of the year in which the agreement will be terminated by not before (date). On termination notice being given, the Boat will not be released to the Owner until the end of that year’s hire season, unless an earlier release is agreed by the Operator.

In the event of any dispute arising between the parties concerning the interpretation of this agreement the matter shall be referred to a single arbitrator. The arbitrator shall be either an independent person agreed by both parties, or if not agreement can be reached, a suitable person nominated by the local Manager of the British Waterways Board. Each party shall pay 50% of the costs of any arbitration.

This agreement is subject to the issuing of a hire licence by British Waterways and is subject to the conditions of British Waterways hire licences.

This agreement is to be valid until terminated by either party in accordance with these conditions but not prior to the close of the hire season