Vessel IQ Terms of Trade

These Terms of Trade apply to all work carried out by Vessel IQ Limited ("Vessel IQ", "we", "us") for a client ("you"). They cover marine servicing, repairs, diagnostics and fault finding, Health & Pre-Purchase Inspections, sea trials, maintenance planning, reports, Owner Portal services, parts supplied and subcontracted work.

By booking work, accepting a quote or allowing us to start a job, you accept these terms.

Services and scope

Our work is limited to the services agreed in the quote, estimate, booking confirmation or job description.

If we identify additional faults or work while we are on the vessel, we will discuss them with you. Additional work may require separate approval and separate pricing.

Client authority

By arranging work you confirm that you are the owner of the vessel, an authorised representative, or that you otherwise have permission to arrange the work.

You authorise Vessel IQ to access the vessel and to operate its engines, machinery, electrical systems and equipment where that is reasonably required to carry out the agreed work.

Quotes and estimates

A quote applies only to the work specifically listed in it.

An estimate is indicative only. It may change if additional faults, additional labour, additional parts, or access difficulties are identified.

We will not carry out additional work without your reasonable approval, except where immediate action is needed to prevent injury or serious damage to the vessel or property.

Pricing

All pricing will clearly state whether GST is included or excluded.

Additional charges may apply for:

• Travel and vehicle time
• Ferry costs
• Marina access and berthage
• Parking
• Emergency attendance
• After-hours, weekend and public holiday work
• Additional labour beyond the agreed scope
• Diagnostic equipment and software
• Specialist testing
• Parts and consumables
• Freight and courier
• Subcontractors
• Return visits

Deposits and payment

We may require a deposit before confirming a booking, ordering parts or starting a job.

Invoices are payable by the due date shown on the invoice.

Where legally permitted, we may withhold reports, documents, parts or further services until overdue amounts have been paid.

If an account becomes overdue, you may be liable for reasonable costs we actually incur in recovering the debt, including reasonable debt collection and legal costs. Interest may be charged on overdue amounts at a reasonable rate advised to you in advance.

Parts and materials

Where legally permitted, parts remain the property of Vessel IQ until they have been paid for in full, even once fitted.

Parts may be new, genuine, aftermarket, reconditioned or client supplied. The type of part used will be agreed with you.

Vessel IQ is not responsible for the quality, compatibility, performance or warranty of client-supplied parts, and labour to remove and refit failed client-supplied parts is chargeable.

Vessel access

You are responsible for providing:

• Safe access to the vessel
• Keys
• Security, gate and marina access
• Marina or hardstand approval where required
• Shore power where required
• Sufficient battery power
• Fuel and operating fluids
• Access to machinery spaces
• Permission to operate the vessel's equipment

If work cannot proceed, or is delayed, because of access issues, additional charges may apply for time, travel and return visits.

Existing condition

Vessel IQ is not responsible for existing defects, corrosion, deterioration, poor installation, hidden faults or previous workmanship carried out by others.

Marine equipment can fail during normal testing, removal, repair or operation because of its existing age or condition. This is a normal risk of working on used marine equipment.

Vessel IQ will carry out all work with reasonable care and skill.

Testing

You authorise reasonable testing of systems following inspection, servicing or repair.

Testing may include starting engines, operating pumps, energising electrical systems, running machinery, and carrying out dockside checks or sea-trial checks.

Sea trials

Sea trials must be agreed separately.

The vessel must be insured, seaworthy and carry the safety equipment required by law.

Unless separately agreed in writing, Vessel IQ attends as a technician or inspector only, and not as the vessel's master or skipper. Responsibility for the safe operation of the vessel remains with the owner or master.

Subcontractors

We may engage suitably qualified subcontractors or specialists where required.

You may be charged for subcontracted labour, travel, testing and reports.

Warranties

Vessel IQ will carry out its services with reasonable care and skill.

Any warranty on parts is subject to the terms of the manufacturer or supplier.

No warranty applies to unrelated faults, existing defects, client-supplied parts, misuse, accidental damage, lack of maintenance, or work that has been altered or interfered with by another party.

Reports and records

Reports, inspection records and photographs are prepared for the named client only.

They must not be relied upon by third parties without our written approval.

Vessel IQ retains ownership of its report formats, scoring methods, templates, systems, software and other intellectual property.

Portal and digital records

The Vessel IQ portal is provided to help owners store vessel information, maintenance records, documents, reports and service history.

The portal does not replace your responsibility to keep original records, invoices, warranties and any legally required documents.

We do not guarantee uninterrupted availability of the portal and may carry out maintenance or updates from time to time.

Limitation of liability

Vessel IQ is responsible for direct loss caused by a failure to provide our services with reasonable care and skill.

To the maximum extent permitted by law, Vessel IQ is not liable for:

• Indirect or consequential loss
• Loss of use of the vessel
• Loss of income
• Loss of charter revenue
• Loss of opportunity
• Faults outside the agreed scope of work
• Hidden defects
• Existing defects
• Systems that were not reasonably accessible
• Incorrect information supplied by you or by others
• Failures occurring after completion that are not caused by our workmanship

Where legally permitted, our total liability for any claim is limited to the amount you paid for the relevant service.

Nothing in these terms is intended to exclude liability that cannot lawfully be excluded, including liability for our own negligence where the law does not allow it to be excluded.

Consumer Guarantees Act 1993

Where the Consumer Guarantees Act 1993 applies, nothing in these terms limits or excludes your rights under that Act.

Where our services are acquired for the purposes of a business, the parties agree to contract out of the Consumer Guarantees Act 1993 to the extent permitted by section 43 of that Act, and agree that it is fair and reasonable to do so.

Health and safety

Vessel IQ may stop, delay or refuse work where conditions are unsafe.

You must disclose any known hazards on or around the vessel, including electrical faults, fuel or gas leaks, unstable structures, hazardous materials and unsafe access.

Complaints and disputes

Please raise any concerns with us as soon as reasonably possible.

Vessel IQ must be given a reasonable opportunity to inspect the vessel and respond before another party carries out corrective work, except where urgent action is required for safety or to prevent further damage.

We will work with you in good faith to resolve any dispute before either party takes further steps.

Governing law

These terms are governed by New Zealand law, and the New Zealand courts have jurisdiction.

Contact

Vessel IQ Limited

Email: info@vesseliq.co.nz

NZBN: 9429053799838