Quote:
Originally Posted by Bullshipper  It will be very hard for someone from another country to get this much cash or a certified check. |
I'd like to rectify a misconception here. I feel that this is an assumption and not a fact. The fact is (and I called my local bank before posting here) that we, as South Africans, have an "annual foreign allowance" of ±$70 000 per individual that can be used abroad. Should the amount spent anually exceed this figure then permission have to be obtained from our Reserve Bank for the additional foreign currency. We are also allowed to have foreign bank accounts (savings, investments and checks). As a business there is no restriction on foreign payments/imports, provided that:
- there is a valid bill of lading
- ditto bill of entry
- ditto invoice
- ditto import permit (if/when required)
To import a new boat no permit is required but import duty of 15% is payable. A used boat requires a permit and the same duty applies. For any new marine equipment and/or motors, O/B, I/B or I/O no duties, no permit. But, on used goods the contrary applies. And as our law works; I buy a new/used boat in the US with a new motor mounted then I pay duty this side on the unit. If I buy the same boat without the new motor mounted (but shipped seperately in the same container) then I only pay duty on the boat's value.... OK, this I'll accept is a measure to protect our local boatbuilding industry.
To add to Miles' post; a 22' Tiara will most probably be used offshore locally and then it would, by law, require 2 motors to venture more than 5nm.
Law:
Every category A, B and C power-driven vessel that is propelled by outboard
engines must have at least two engines of equal power: Provided that vessels constructed
with a planing hull may have engines of different power if either engine is capable of
propelling the vessel at planing speed.
and
"category"
, in relation to a vessel, means the particular category of vessel determined
as follows:
(a) Category A—vessels operating more than 40 nautical miles from shore;
(b) Category B—vessels operating more than 15 but not more than 40 nautical miles
from shore;
(c) Category C—vessels operating more than 5 but not more than 15 nautical miles
from shore;
Sorry to bore you with all of this but I feel that the "buyer" should have a fair chance to prove his intentions and should not be judged "guilty" in advance (nothing wrong with being vigilant though!). I have been in situations abroad when I could not honour appointments due to a tight shedule. It happens. And, NO, I'm not the buyer
Cheers