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A Valuation Survey is often carried out at the same time as a Pre-Purchase survey and is used to determine the fair market value of the vessel This type of inspection is usually required by Insurance Companies prior to issuing cover and required by Financing and Mortgage Institutions.
Nota Bene: When a valuation is carried out separately, it will be clearly stated in the surveyor’s report that this type of survey does not constitute a Pre-Purchase Survey and it should not be regarded as such.