Brokerage Disclosures

Broker Identity & Licensing

Wake & Compass is a yacht consulting and brokerage firm providing representation services to buyers and sellers of recreational and commercial vessels.

[OWNER TO CONFIRM: legal business entity name, state of formation, principal office address]

[OWNER TO CONFIRM: applicable yacht broker license numbers — Rhode Island, and any other states or jurisdictions where Wake & Compass is licensed or registered to conduct brokerage activities]

Agency Relationships

Wake & Compass may represent sellers, buyers, or both parties in a transaction. The nature of our representation in any given transaction will be disclosed to all parties in writing prior to or at the time of entering into a brokerage agreement or purchase and sale agreement.

• ●Seller's Agent: When representing a seller, Wake & Compass acts as the seller's agent and owes fiduciary duties to the seller, including loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting.
• ●Buyer's Agent: When representing a buyer, Wake & Compass acts as the buyer's agent and owes fiduciary duties to the buyer.
• ●Dual Agency: In certain transactions, Wake & Compass may represent both the buyer and the seller. Dual agency requires the informed written consent of both parties. In a dual agency situation, Wake & Compass cannot advocate exclusively for either party.
• ●[OWNER TO CONFIRM: any transaction brokerage or non-agency relationship disclosures required in your jurisdiction]

Vessel Information & Accuracy

All vessel specifications, descriptions, pricing, and related information presented on this website are provided for informational purposes only and are believed to be accurate but are not guaranteed. Vessel information is typically provided by the seller or sourced from third-party databases and has not been independently verified by Wake & Compass.

Prospective buyers are strongly encouraged to:

• ●Conduct a thorough independent inspection of any vessel prior to purchase
• ●Engage a qualified, ABYC-certified or SAMS/NAMS-accredited marine surveyor to perform a pre-purchase survey
• ●Review all documentation, including title, registration, USCG documentation, and any applicable liens
• ●Consult qualified legal, tax, and financial advisors regarding the transaction
• ●Verify all specifications, equipment, and representations independently

Market Evaluations & Opinions of Value

Any market evaluation, broker's opinion of value, or pricing recommendation provided by Wake & Compass represents a professional opinion based on available market data, comparable sales, and the broker's experience. Such evaluations are not appraisals, surveys, or guarantees of value.

Market evaluations are not substitutes for a formal appraisal by a certified marine appraiser or a pre-purchase survey by a qualified marine surveyor. Actual sale prices may differ materially from any opinion of value.

Market Data & Intelligence

Market data, statistics, and analysis presented on this website are derived from publicly available sources, industry databases, and Wake & Compass's own transaction experience. Such information is provided for general informational purposes only.

Past market performance is not indicative of future results. Market conditions change, and no representation is made that any particular vessel will sell at or near any stated price or within any stated timeframe.

[OWNER TO CONFIRM: specific data sources used — e.g. YachtWorld, Boats.com, YBAA, BUC, NADA, proprietary transaction data]

Compensation Disclosure

Wake & Compass is typically compensated through a commission paid at closing, calculated as a percentage of the final sale price. The specific commission rate and payment terms are set forth in the applicable listing agreement or buyer representation agreement.

In co-brokerage transactions, the commission may be shared with a cooperating broker representing the other party. Wake & Compass will disclose any co-brokerage arrangements to its client.

[OWNER TO CONFIRM: any referral fees, finder's fees, or other compensation arrangements that require disclosure under applicable law]

No Legal, Tax, or Financial Advice

Nothing on this website or in any communication from Wake & Compass constitutes legal, tax, financial, or investment advice. Vessel transactions may have significant legal and tax implications, including but not limited to sales tax, use tax, documentation requirements, USCG titling, and import/export regulations.

All parties to a vessel transaction are strongly encouraged to consult qualified legal counsel, a certified public accountant, and other appropriate professionals before entering into any agreement.

USCG Documentation & Title

Wake & Compass does not provide title insurance, title searches, or legal opinions on vessel title. Buyers are responsible for conducting their own due diligence regarding the title, documentation status, and any encumbrances on any vessel they are considering purchasing.

Wake & Compass recommends that buyers engage a qualified maritime attorney or documentation service to review all title and documentation matters prior to closing.

Environmental & Regulatory Compliance

Vessel buyers and sellers are responsible for compliance with all applicable federal, state, and local environmental laws and regulations, including but not limited to EPA emissions standards, fuel tank regulations, and applicable discharge regulations.

[OWNER TO CONFIRM: any specific environmental disclosures required in Rhode Island or other jurisdictions where you operate]

Limitation of Liability

To the fullest extent permitted by applicable law, Wake & Compass shall not be liable for any direct, indirect, incidental, special, or consequential damages arising out of or in connection with the use of this website, any vessel information provided herein, or any transaction facilitated by Wake & Compass.

[OWNER TO CONFIRM: review with your attorney to ensure this limitation is enforceable in your jurisdiction and consistent with your brokerage agreements]

Governing Law

[OWNER TO CONFIRM: governing law and jurisdiction — e.g. "These disclosures and any disputes arising from Wake & Compass's brokerage activities shall be governed by the laws of the State of Rhode Island, without regard to its conflict of law provisions."]

Updates to These Disclosures

These disclosures may be updated from time to time to reflect changes in applicable law, regulatory requirements, or our business practices. The date of the most recent revision is noted at the top of this page.

For questions about these disclosures, please contact us at: