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Tips from a Marine Surveyor: Avoid These Yacht-Buying Pitfalls

Career marine surveyor Tarn Kelsey wants you to know that marine surveys are a lot more than just a required step in the yacht-buying process: they're an opportunity. Purchasing a yacht is an exciting time, but prospective buyers would be wise to leverage the marine survey process to their advantage. We sat down with Tarn to talk through the marine survey process and his tips and advice for how you can get the most out of your next survey and avoid the common pitfalls he sees yacht buyers make.

Survey Says...

So what is a marine survey? Marine surveys are reports and valuations prepared by certified marine surveyors, who are like expert witnesses, acting as impartial third parties in a transaction. They are like a home inspector and an appraiser rolled into one, both inspecting and assigning a value. Tarn's specialty is pre-purchase inspections. He inspects the boat and prepares a written report for the prospective buyer, as well as for the insurance and financing companies involved. Tarn has been in the marine business since he began working in boat repair at 18. At 36, he hung up the tool belt and began apprenticing with a marine surveyor, and has been surveying boats ever since. 

When does a marine survey happen?

Pre-purchase inspections happen after a prospective buyer contacts a listing broker, decides they want to buy a boat, and signs a contract to start the purchasing process. That contract starts a clock for the rest of the process, and that's when it's time to get a marine surveyor like Tarn on board to take a look at the boat. 

Survey Surveyors

Choosing a marine surveyor you trust is key. Most folks find Tarn through word-of-mouth recommendations from happy past clients, so reaching out to your networks can be a great way to get a few names to start with; brokers will usually recommend several names to preserve impartiality in picking surveyors. If you're searching online, look for names that come up again and again while cross-referencing forums, websites, and/or boat manufacturers' owner's groups. As the one who's ultimately buying the boat, you have the final say on who your marine surveyor is. It's a good idea to interview a few to find the right fit. You'll need to know if a potential surveyor:

- has enough career experience under their belt;

- is available to perform the survey and produce the report within the given timeframe;

- is familiar with the type of boat you're buying (sail vs. power, etc.); and

- tests engines, generators, and/or other specific equipment on the boat, and to what extent.

If you're going through the purchase process solo, you may want to keep in mind that some marine surveyors will only work with buyers who are working with a broker. Working with a broker can make the purchase process go much more smoothly for you overall, and the survey day for your marine surveyor: they know the ins and outs of how to prep the boat to ensure a successful day.

Macro to Micro

When Tarn arrives to survey a boat, he starts with the big things first: Are there basic structural problems? Is the rudder falling off? Is the deck rotting? Has the engine obviously caught on fire? After he's gotten an initial feel for the boat as a whole, he tackles the details, working his way through systems, and taking the boat out for a test run to check navigation systems and the sails on sailboats. Does the refrigeration work? How well? Are the hoses in good condition? How many hours are on the engine? This macro-to-micro approach allows him to systematically assess the boat's condition and begin working toward a valuation. Different used boats have different levels of wear and tear, and a marine surveyor can give you fantastic insight into the lifespans of various onboard systems and how well you can expect the boat to perform for your intended purposes. 

How do surveyors assign value to a boat?

It depends on the boat! Some boats are easy because they're from a popular brand with a lot of comps on the market to compare value to. Custom boats with no sister ships can be a little trickier and you have to get creative to figure out fair comparisons. Overall, the basic question is whether the boat is above or below average for what it is and how it compares to similar boats.

Mistakes Yacht Buyers Make

As a career marine surveyor, Tarn has seen a lot of prospective yacht buyers on their prospective yachts, and he's noticed some common pitfalls excited buyers can make:

Getting too attached before the marine survey.

It's natural to be excited when you are close to buying a new boat, but getting carried away by your emotions can cloud your judgment. Try to maintain neutrality until after you've absorbed the marine survey report. If you've already got your heart set on a yacht and then discover the engine will need to be replaced within a couple of years, it might be difficult to accurately assess whether that's a future expense you actually want to sign on for.

- Not doing enough homework on the type of boat they're buying and the systems involved.

This one is pretty self-explanatory: it's hard to know what are key features or potential problems on a boat if you're not familiar with it, and if you're overwhelmed by a marine survey report on systems you don't understand, you could miss something critical that might make you decide whether or not to buy the boat.

- Overpaying for a boat or buying too much boat for what they have the experience for.

Some folks think it's best to buy as much boat as you can afford, but if you're not an experienced boat owner, you may not realize what it costs to maintain a larger boat after the initial purchase, which could be up to 5-10% of the boat’s value per year, not including where you keep it! It's not uncommon for marine surveyors to survey one boat twice within a couple years because the first buyers were overwhelmed and disillusioned by too much boat.

- Inviting "expert" friends to weigh in. 

Sure, some friends really do know what they're talking about and having an extra head aboard during the purchasing process can bring some balance to the equation, especially if you know you struggle with staying neutral. But choose who to bring into the decision-making process carefully. How experienced are they? Sometimes soliciting too many opinions can be unhelpful, especially if they're just opinions rather than expert advice.

- Not working with a broker or using a "hands off" broker who doesn't prep the boat before the survey.

As mentioned previously, some marine surveyors won't work with you if you're not working with a broker, and for good reason. Prepping a boat for a survey can be involved, and brokers know the ropes: all the systems should have been turned on, the batteries should be charged, etc. If a boat has been untouched for months (or years!) until the marine surveyor arrives, a lot of their limited time can be wasted on last-minute repairs and troubleshooting systems.

Get the Most from a Survey

So now that you know what mistakes to avoid, here's how you can go beyond and get the most out of your marine survey:

- Have an active dialogue with the marine surveyor throughout the survey.

Instead of waiting until the end to get a report you're left to decipher alone, get engaged with the surveying process. Ideally, nothing in the report should be a surprise because you had one-on-one time with the marine surveyor as they went through their process. No matter what your technical background is, you're sure to learn something helpful about the boat and its systems. Simply ask, "Do you mind if I go with you?" at the start of the survey to kick off an active dialogue that you only stand to gain from.

- Consider the time of year.

If you're surveying a boat north of the Carolinas in winter, it has likely been winterized; therefore, there are systems you either can't test or that are not cost-effective to test. Sometimes you can't help it: the boat will be gone if you wait until spring. But if you want to be sure everything can be tested and included in the survey, it's good to keep this in mind in terms of how you time your yacht-buying search.

A marine survey is so much more than an item on the yacht-purchasing process checklist. By doing your homework and staying engaged in the marine survey process, you can ensure that you have a clear picture of the boat you're hoping to buy and make a confident, informed decision about your yacht purchase. Happy boat buying!

Interested in getting a marine survey done by Tarn Kelsey? Reach out here: [email protected]. And if you're looking for a broker to aid in the entire yacht-buying process, learn why David Walters Yachts buyer's agents are some of the best in the business here [LINK TO BUYER'S AGENT BLOG] .

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Patton Marine is an industry leader in marine surveying with over 11,000 yacht surveys performed in ports all over the world. Our aim is to deliver an honest, intelligent, non-destructive service to you as a buyer or to a broker and their client.  We have a large team of experienced, qualified professional yacht surveyors who offer worldwide service as well as valuable insight.  

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We survey your superyacht, superyacht check specializes in pre-purchase surveys of superyachts ranging between 30 and 160 meters. we produce a report with a detailed evaluation of every aspect of the yacht. our survey will reveal the real condition of the yacht. the details we provide can assist you in negotiating the purchase, obtaining accurate insurance, or simply better understanding your asset. a pre-purchase survey can prevent unscheduled down-time, financial loss, and frustration..

When you're buying a super or mega yacht, your yacht broker will assist you in finding the right yacht. However, even the most seasoned broker may not know the real condition of a yacht.

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We are regularly called upon by the insurance industry to investigate and report on superyacht casualties for both Hull & Machinery underwriters and P&I Clubs.

With our depth of experience in undertaking damage surveys, we are able to quickly and efficiently assess the scale of damages, the steps required to undertake repairs and the likely cost of doing so.

We are able to assist owners, captains and crew in getting their damaged yachts back into service with the least possible interruption to busy schedules.

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We undertake pre purchase surveys, advising potential buyers on the condition of the yacht that they wish to purchase. The size of our team means that we are able to quickly and efficiently survey and report on the very largest yachts. We have expertise in house to survey all types of yacht and yachts of all materials, including high performance sailing and motor yachts. Our relationships with specialist contractors enable us to quickly build a team of deep specialists to report in depth on key systems and facilities, including helidecks and submersibles. Our reports are written with the buyer in mind, providing readily accessible summaries of key issues, with fully costed analysis of any remedial works required.

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Progress (or Milestone) surveys form a key part of the structure intended to track progress of a new build or major refit and are often used as the basis for release of stage payments to the shipyard. Involving an experienced independent surveyor is an effective way of ensuring that a project remains on track and that issues that may come to light are dealt with quickly and efficiently. Our surveyors’ experience in managing such projects enables us to understand where problems tend to arise and how best to navigate them. Where necessary, we can mediate between the Owner and the shipyard on contentious issues.

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Properly planned and executed sea trials are an essential part of ensuring that a new or refitted yacht is delivered to her Owner as specified in all respects. Our team of superyacht surveyors, with their extensive experience as serving deck and engineering officers, are ideally placed to undertake this essential task. Working closely with the build captain, managers, lawyers and shipyard, we will work with the team to plan and execute harbour acceptance trials and sea trials.  As with pre-purchase surveys, the size of our team means that we are able to quickly and efficiently undertake sea trials on the very largest yachts.

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The Superyacht Survey Process

We find that both clients and crew want to know how our superyacht survey process works, and how we reliably plan and execute our surveys so as to deliver our paper and online reports so rapidly. As always, the secret is in careful advance planning by the team and careful coordination whilst onboard, combined with the experience of our survey team members and our unique cloud based survey software. The aim of this article is to explain the process and to discuss some of the choices and decisions that need to be addressed in order to deliver a successful outcome.

Pre contract phase

We usually get approached by the buyer’s broker once they feel that the transaction has a realistic prospect of going to contract, but not necessarily before contracts are signed. We are used to providing survey proposals at this stage, in order to give the buyer’s team an idea of what is involved and the likely cost. It isn’t unusual for things to go quiet for a period of time, as lawyers and brokers negotiate the final detail of the sale and purchase contract. During this period, we may have pencilled a rough date into our survey calendar. We will also have discussed with the buyer’s team what their likely requirements will be in terms of haulout and the use of specialists. Depending on the client’s requirements, we may also have sounded out our preferred specialists, and will have looked at the availability of synchrolift or dry dock options for the underwater hull survey, all the time keeping details of the transaction confidential.

Post signing contracts

Once contracts are signed, the pace generally accelerates rapidly. We work with the buyer’s team to firm up the survey location and timetable, allocate our surveyors to the survey and book the specialists required by the buyer (usually Cat or MTU, plus electrical, noise & vibration, paint and possibly NDT). If needed by the buyer, we will also compile a shortlist of haulout locations and prepare a scope of work for each shipyard to quote on. Once the plan is firmed up, we will send a survey briefing letter to the Captain, yacht manager and selling broker, letting them know what to expect during the survey.

Survey planning

Obviously the time needed for the survey will vary depending on a number of factors, but our approach is to scale our team to complete our survey on even the largest yacht (and we regularly work on yachts from 40 metres up to 160 metres or more) within 5 working days. Occasionally the survey might need to be split into two attendances, for instance, if the yacht needs to be moved to a haulout facility, or where the yacht is going to use a traditional dry dock, which will inevitably be slower than using a travel lift or synchrolift.

In planning our time onboard, we usually try to avoid holding the sea trial on day 1, as we like time to become familiar with the yacht and its systems and to get to know the crew. We find that day 2 usually works well for the sea trial. Although we request a minimum of 4 hours at sea for the sea trial, the reality is that with pre sea checks and post sea trial checks, the sea trial will occupy a whole day. Our surveys require half a day undertaking what we refer to as “interrupting” work (ie they can interrupt the yacht’s routine and day to day work of the crew) whilst we undertake a blackout trial and test transitional power sources, fire alarms and fire doors, remote closing watertight doors etc. We try to group these tests into half a day following the sea trial, usually on day 3. We encourage all parties to try to make the haulout the very last part of the survey process for several reasons: it is the part of the survey most likely to encounter delays beyond our control; the survey team cannot be onboard whilst the yacht is being lifted and moved, or whilst the dry dock is being drained or flooded, and in either case until power is restored, losing us time; if any problems arise during the underwater hull inspection, it is much more cost effective to leave the yacht ashore for a few additional days in order to deal with the issue, rather than relaunching and then having to haulout all over again at a future date; and finally, if the sea trial is a disaster, the buyer might avoid the cost of a haulout in the event that they decide to reject the yacht following the technical sea trial.

Report delivery

Assuming that everything goes according to plan, the buyer’s team are going to be anxious to know our opinions as early as possible. To that end, we maintain a regular dialogue with the buyer’s team during the survey, with regular written updates. We will have established with the buyer’s team how quickly they need the report. Our current record is to submit a 350 page report within 48 hours of stepping off a 95 metre Lurssen. With planning and experience, by scaling our team size and by harnessing the power of our cloud based survey software, we’re able to provide industry leading reports within very tight deadlines.

If we can help you with your next superyacht pre purchase survey, please contact us by using the details here .

Other acrticles

If you would like to read other articles about superyacht surveys, please click here to read an article about use of specialist contractors, or here to read our thoughts on whether or not to haulout as part of the survey.

Yacht Survey Partners are global specialist superyacht surveyors. We are currently active in the UK, USA, Netherlands, Germany, Italy, France, Spain, Greece, Turkey, Malta, the Caribbean and further afield, undertaking pre purchase surveys, pre sale surveys, condition surveys, insurance damage surveys and providing advice to buyers, owners, family offices, brokers, managers, insurers, lawyers and shipyards. Our surveyors are located in London, Palma, Barcelona, Antibes, Monaco, Genoa, Fort Lauderdale and Hong Kong.

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Different Kinds of Boat Surveys [Ultimate List]

Marine survey types include condition & value surveys, pre-purchase surveys, appraisal surveys, new yacht surveys, boat inspections, damage surveys, finance surveys, insurance surveys, and full condition surveys.

Table of Contents

Different Types of Marine Surveys and Boat Inspections

Marine surveys are carried out for various reasons, and the techniques for each are tailored to meet the client’s specific requirements. It is important to know which one you will need.

In this article we will explain the different types of marine surveys, how much it costs, and their limitations.

Different Types of Marine Surveys

• Condition and Value (C&V) surveys
• Pre-purchase Survey
• Insurance C&V surveys

Appraisal Surveys

• Finance Survey

Damage Surveys

New yacht surveys.

• Consultation Surveys

Condition and Value Surveys – Insurance C&V Surveys

This type of marine survey is called C&V and It is the most popular type of boat survey when you’re looking to buy a pre-owned vessel. These are thorough examinations of the entire boat and its propulsion system and can include a sea trial . While separate engine surveys are sometimes undertaken on massive and expensive ships you would not check the engine room for a small vessel. Additional rigging surveys may also be required for large yachts.

Insurance C&Vs, which are effectively the same thing, tend to be less extensive and focus on a specific list of issues that the insurance company needs to verify before covering a boat. It will give you an idea of the value of the boat and how much it is worth .

Pre-Purchase Survey

Another way people call this kind of ship survey is Pre-purchase inspection. Before you buy a boat make sure to get it inspected by a marine surveyor that has experience with your boat model so you can get a proper pre-purchase marine survey as discussed in our other article. #MarineSurvey #prepurchaseInspection

All that is required is a thorough inspection of a boat to determine its estimated value. In divorce or estate settlement situations, these are usually needed. However, a lender may require one before financing a ship in some cases.

After a storm or an accident, damage assessments may be essential. They determine damage and repair costs. Often, insurance companies need these when an unpleasant situation occurs. Search a boat’s accident history on boat-alert.com before you buy it. Also remember that if a vessel is damaged beyond $2000, you should report a boat accident to the coast guard .

Extensive and expensive yachts typically necessitate new yacht surveys while they are being built. It’s common for custom-built yachts to have multiple visits from a surveyor to the manufacturer to check on the progress of the vessel’s construction. However, if you’re working with a trustworthy boat builder, this isn’t necessary. How can you tell if a company is reliable? Buying a boat? Make sure it’s NMMA certified . Third-party inspections and American Boat & Yacht Council standards and specifications are required of all accredited ship and yacht builders, above and beyond Coast Guard requirements .

Other types of surveys for ships: ( other categories of marine surveys )

• Draught Survey – this is to establish how much cargo is on board the ship
• LSA – Life Saving Appliance survey
• Load Line Survey
• Class survey of different components in the engine room
• Marpol survey
• Dry dock survey – out of water inspection
• Remote surveys

Request a Marine Survey Quote

Contact information:, boat details:, survey location:, additional comments/requirements:, what is a marine survey on a boat.

In its most basic meaning, a marine survey is a boat inspection . More specifically, it is a highly detailed technical inspection and a lengthy document that provides information about the condition and value of your vessel. The results of a marine survey are often used to determine whether or not a boat is suitable for sea travel (safe to be in the water). Many unsafe boats will float and transport a family but they are dangerous. Many appear to be relatively safe, especially to seasoned boaters familiar with the waters. In actuality, maritime surveyors frequently discover problems with boats that were utterly unknown to the boat owner.

Reasons for getting a marine survey

A survey is typically conducted to determine the condition and value of vessels or their cargoes to provide financial, insurance, and purchasing information and confirm that plates meet regulatory requirements and comply with applicable laws, regulations, and policies.

Depending on the size and type of vessel you’re considering purchasing, a marine survey might be a valuable investment that assures you get what you pay for in the long run. A qualified marine surveyor will thoroughly evaluate the vessel from top to bottom, and while it is time-consuming, the result is well worth the trouble.

A boat survey is worth it

Yes, a boat survey is worth the money. You want to do things right when getting out to sea and stay safe making such a large investment. It can get expensive so many are wondering “Are boat surveyors worth the money?” and “Do I Need a Boat Survey?”…

In most cases, yes. The survey can reveal problems that let you negotiate the price down and agree to share the rectification costs with the seller. This alone can save you a few thousand dollars and get you a better boat while only costing you a few hundred.

In some cases people will say that it depends upon how knowledgeable you are about boats. Not all surveys, or surveyors, are equal. However, insurers may even specify what level of membership your surveyor should hold and type of survey the want to see.

Other than the insurance companies or finance lenders requesting a survey, you should be getting a marine survey to ensure that your asset is a good one. Whatever budget you have for a boat will be proportionate to your income, and the last thing you want is to buy a boat which subsequently costs you far more than it is either worth, or you have to invest into fixing it.

A marine survey will flag problems and point out what good things there are too. It is not just a report of doom and gloom. It should ultimately ensure you feel reassured and prepared to take the final step to purchase a boat or to feel justified and relieved to walk away .

How much does a boat survey cost – #CostOfSurveys

Although pricing varies depending on location, you should expect to spend between $20 and $25 per foot of boat length . But keep in mind that many surveyors have a minimum price that may be more than this rate when dealing with small boats.

Who pays for a boat survey? #BoatSurvey

Depending on the sort of inspection being performed, the answer is different. In most cases, the potential buyer of the boat will cover the cost of a Pre-Purchase Survey, but the current owner of the yacht would be responsible for any insurance or assessment costs. It is less likely that a yacht dealer or broker will offer a marine survey upfront prior to selling a boat but they should at least provide the boat-alert.com history report.

How long does a boat survey take?

A survey can take a few hours to a full day depending on the size and complexity of the boat. The sea trial usually lasts 60 minutes. Then it typically takes three to five days after the inspection is completed to get the report.

What is an out of water marine survey?

To establish its present state and seaworthiness, an in-depth examination of the vessel’s external and internal condition above and below the waterline. It entails testing and investigating the vessel’s mechanical, electrical, and gas facilities to ensure the vessel’s safety while in operation. As well as observing and documenting the cosmetic condition of the boat as well as its internal fittings, this information will be used to guide the boat owner when valuing the vessel or making recommendations for general maintenance to improve the safety of the ship and protect it for future use.

Survey Recommendations by priority

What is done in a boat survey? In cases where the surveyor believes that the vessel requires attention, he will offer a list of his recommendations with his report. In general, these will be arranged in descending order of importance. Essential works are affecting the seaworthiness and safety of the vessel before re-launch; deterioration of the vessel’s structure and or machinery presenting potential safety or seaworthiness issues shortly that must be addressed within a reasonable period; and cosmetic recommendations to maintain the overall comfort, safety, and value of the vessel. In addition, Surveyors serve as our “eyes and ears,” and we carefully consider the advice they provide. In assessing risk to insurers, we may urge that work be completed in a timeframe that differs from that recommended by the surveyor’s judgment.

Limitations of Marine Surveys and Boat Inspections

They can tell you the current state of the boat but they cannot validate paper work or tell you the history.

By its very nature, a marine survey is limited to assessing and commenting on what can be seen. Remote or inaccessible parts of a conventional ship’s infrastructure will be commonplace. In the following paragraphs, we’ll discuss the primary drawbacks of every marine survey.

The survey report is the surveyor’s opinion and should not be interpreted as a reality. There have been no inspections of the vessel or equipment where the linings, moldings, machinery, installations, and tanks have been obscured. Based on their experience, judgment, and the status of nearby regions, a surveyor’s conclusion based on these areas may not exclude the occurrence of isolated damage or deterioration masked by paints, fillers, or other methods.

When a mast is stepped, only the rig elements that extend above the head level are subjected to a thorough examination. There have been no removals of fasteners, no borings of the hull, and no specialized testing, save as mentioned unless otherwise specified. In the surveyor’s opinion, the owner has given the client permission to remove small sections of antifouling to allow for the inspection and moisture testing of the hull. There may be a need for some little destructive testing, but any disruption would be minimal. Unless otherwise instructed, the surveyor will assume that the owner has granted permission to the client to run machinery and turn on and test electrics as needed. Non-destructive general inspection and evaluation of the state of sample sections where coatings have been removed are two methods used to determine the condition of the hull. The state of the substrate can only be judged based on the data gained from scraped clean parts of the hull.

What is in a Marine Survey Report? – Recommended Survey Report Content

What is included in a marine survey? The survey will be to write down the name of the party the survey was done for, who asked for the survey, when the survey was done, and report was made. The place where and how the vessel was surveyed; on the hard, in the water, on a trailer, etc. A list of everyone who was there when the inspection took place will be included.

Scope of the marine survey

The survey scope is decided chiefly during the first meeting with the client. Yes, the vessel will be hauled. Is there going to be a sea trial? etc. A list of things that could affect how the survey is done will be made. This includes things like the weather, the location, and the availability of power, water, and gas.

Disclosure in a boat survey report

The surveyor must tell the client and the report if they have done any work on the subject vessel in the last three years as a surveyor or in any other way. The surveyor must also say if they have a relationship with the boat’s seller, broker, or owner.

The standards that are used when conducting a vessel survey

The survey will say which voluntary standards (ABYC, NFPA, ISO, etc.) were used to report the surveyor’s findings.

The Name of the Vessel

The report will have accurate and enough information to positively identify the subject vessel. Vessel name, current owner, Hull Identification Number ( HIN ), type of vessel, manufacturer, Model, and Model year, or year of manufacture are all things to look for. You want to compare them to the HINDecoder.com data you obtain and what it show on the title or registration stickers. Photographs of the boat and its HIN can be found in the survey report.

There will be some information about the boat’s structure, like how it’s made, what materials it’s made of, and how it’s in shape and condition. “Wetted surface and underwater machinery” will be written down if the vessel was hauled or the wetted area was checked by another method. If the boat was not hauled, a statement would be made about the operation and condition of “below the waterline” or “thru-hull” fittings that can be seen from vessel.

 All of the vessel’s systems will be listed and described in terms of how well they work or if they have problems. A few examples:

• Hull Composition and Structure
• Propulsion Machinery
• Tankage & Piping
• Bilge Equipment
• Emergency Equipment Rigging
• Electrical Systems
• Electronic Navigation Equipment
• Fire Extinguishing Systems
• Heating / Cooling Dinghy’s & Tenders
• Ground Tackle
• Dewatering Systems
• Shipboard Amenities
• Miscellaneous

Deficiencies & Recommendations

The report should note any problems with inventory or systems and any required systems not used when writing information. The report will also include the surveyor’s opinions and suggestions for keeping the vessel safe.

The current Market or Fair Market Value and Replacement Value for the vessel will be found in the report. Describe how Fair Market Value came to be. This text will show where the information came from to develop this valuation.

The surveyor’s license

The report will end with a statement from the surveyor, signed by him, and the date the report was sent. Their credentials should speak for themselves.

What is the most common form of a marine surveyor? They should be members of ABYC , NAMS , or SAMS . Many insurance companies and banks require that a marine surveyor be a credentialed member of either the National Association of Marine Surveyors (NAMS) or the Society of Accredited Marine Surveyors (SAMS).

Can I get boat insurance without a survey? – is it needed?

This will be up to your insurance company to decide so you will have to shop around. It will also depend on the boat size and type. A boat that is 10+ years old or 25+ feet long must really get a survey done!

We gave a comprehensive list of types of marine surveys you might get for your sailboat or vessel. We explained which one you will need for each scenario and mentioned the pros and cons of a boat inspection in terms of limitations. Remember, the survey tells you the state of the boat now but you still need the boat-alert.com history report to know its history and validate paperwork.

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8 Things A Marine Surveyor Wants You To Know

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If you've never had a marine survey before, here are some things to help make the experience better.

It's not hard to make a surveyor smile. All it takes is a little prep work on your behalf. (Photo: Mark Corke)

Over the years, BoatUS has written plenty on the importance of getting a marine survey on a boat you're considering buying, and for good reason. For many people, a boat may be the second biggest purchase they make, after a house, and there's a lot at stake financially.

Many insurance companies and banks require a Condition and Valuation survey in order to provide coverage or financing. But if you've never had a boat surveyed you might be wondering what to expect when you do need one. BoatUS Magazine's  contributing editor and accredited marine surveyor, Mark Corke, offers up this advice.

Do Your Research Ahead Of Time

Decide what sort of boat you want and need. Have a look at a few models, then narrow down the list to one or two before you engage a surveyor. A surveyor has looked at hundreds or thousands of boats during his career and can offer advice on many boats, but he does not know which boat will suit you. One of my clients, after having me check out several boats, eventually asked me if I thought he should buy a power or sailboat! You'll need to have your choices much narrower than that. The last thing a surveyor wants to do is tell you what kind of boat is best for you.

It's Not Just About The Cost

Don't choose a surveyor on price alone. Of course you need to know up front what the cost of the survey will be, but it could be a case of "if you don't pay now, you'll pay later." That bargain-basement-price survey could cost you in the long run should the surveyor miss some important fault on the boat.

If problems are caught before inking the deal, you have the option of renegotiating the price or getting faults corrected before you take delivery of the boat. While there is no guarantee that you will get more from a more expensive surveyor, as in all things, you typically get what you pay for. Prices are generally around $20 to $22 per foot, but if you're quoted $12 per foot you need to ask yourself why.

Surveyors often get concerned when a client asks for a cheap survey because "it's only for insurance." Most surveyors are professionals and want you to be happy with your boat and ensure your safety on the water. In return, you want him or her to spot any deficiencies with the boat. Surveyors need to be able to stand behind their work (possibly even in the courtroom), and doing a "light" survey doesn't help anyone. Most surveyors have a set fee based on the size and type of boat, the type of survey, travel costs, and so on.

By all means ask how much the surveyor charges, but don't wait until the day of the survey and then try to start negotiating the fee. You have the right to back out of the purchase up until your contract acceptance deadline, which is often at least several days after the survey date. If you change your mind about the boat after the survey is done, the surveyor still has to be paid. Most surveyors expect payment on the day the service is completed. Surveyors typically won't send out the completed survey report until they get paid. It's the surveyor's version of "no cash, no splash."

The Surveyor Works For You Only

You'll be paying the bill, so it's important that you understand that the surveyor reports only to you. He doesn't share his findings with anyone else unless you specifically request it. If you have a broker acting as your buyer's agent, then you may ask that the surveyor send a copy of the survey to the agent as it makes your broker's job easier if he's asking for things to be addressed. Keep in mind that a survey is only good for a specific time because it's really a snapshot of what the boat was like on a specific day. Old surveys should not be relied upon.

Make Sure The Boat Is Prepared

If you are asking a surveyor to come to your boat to perform an insurance survey, make sure that the surveyor has access. Don't expect him or her to empty out lockers of heavy anchors, bags of sails, and boxes of spare parts. The surveyor needs to look at the mechanical parts of the boat, and it causes delays to have to move tons of stuff out of the way. If in doubt, ask the surveyor what he needs before he arrives. He won't expect everything to be off the boat, but he will appreciate reasonable access. One client asked me to survey his 33-foot sailboat, but it turned out that the entire contents of a small apartment seemed to have been crammed aboard. If that wasn't bad enough, the boat also had a Great Dane aboard!

The condition of hoses and rigging are just a couple of things that the surveyor will check. (Photo: Mark Corke)

Don't Get In The Surveyor's Way

Most surveyors like it when the buyer is at the survey. They can answer questions and point out things of interest on the boat that may not find their way into the survey report. That being said, it makes the job slower if you hover. Allow the surveyor to do his job — you'll get a complete written report about everything he sees.

A Sea Trial Is Not A Boat Ride

The purpose of a sea trial is to check the boat's systems, engines, generators, electronics, and other parts that cannot be inspected while the boat is not under commission or is "on the hard." The surveyor will need to pay close attention to the engines, helm, and systems, and how the boat handles. To get the most from a sea trial, leave the kids, dog, and Aunt Kate at home. They can get a ride on the boat later, assuming you buy it. Too many folks on the boat makes it difficult for the surveyor to do the job properly.

Surveyors Are Happy To Talk Things Over With You

Most surveyors are only too happy to talk to you about the survey process, especially if this is your first time employing a surveyor. They will also answer questions after the survey, so don't be scared to call them up if you see something in a survey report that you don't understand. Surveyors are on boats every day, but owners and buyers may not always understand some of the technical terms.

Relationships Are Important

Surveyors want to build solid relationships, because their reputations are at stake. There's a saying experienced surveyors tell newbies: You're only as good as your last survey. Marine surveyors are often independent businesses and want you to call them first when you buy your next boat and also to recommend them to friends and family. If you have a problem with a survey (or a surveyor) don't hesitate to bring it up.

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A marine surveyor and holder of RYA Yachtmaster Ocean certification, BoatUS Magazine contributing editor Mark Corke is one of our DIY gurus, creating easy-to-follow how-to articles and videos. Mark has built five boats himself (both power and sail), has been an experienced editor at several top boating magazines (including former associate editor of BoatUS Magazine), worked for the BBC, written four DIY books, skippered two round-the-world yachts, and holds the Guinness World Record for the fastest there-and-back crossing of the English Channel — in a kayak! He and his wife have a Grand Banks 32.

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How much does a boat or yacht survey cost?

February 5, 2024 By admin No comments yet

Appraising a yacht requires a sound knowledge of the factors likely to influence its value. The right choice of expert is essential. The professional assesses the boat according to specific criteria, including its size, value, technological complexity and the geographical location of its mooring.

Yacht valuation: assessing costs

Variability of yacht survey costs.

The costs associated with a yacht survey can vary depending on the model of yacht, as well as its size, make and age. Superyachts require a more detailed survey to assess all aspects of the vessel: advanced navigation systems, interior fittings and state-of-the-art entertainment facilities. The need for a regular survey also ensures that the value of your investment is maintained. The cost of a yacht survey starts at 500 euros.

Methods of invoicing a yacht survey

There are 2 main billing methods for survey services. The first is based on a fixed value per metre of hull. The advantage of this approach is transparency in the pricing of your yacht survey. The second billing method is based on the duration of the survey. It is therefore important to use a professional you can trust to examine your boat.

How do you choose the right professional for a yacht survey?

Marine surveyors.

To obtain a reliable marine survey, you can call on a professional who specialises in the nautical field. The Chambre Nationale des Experts Maritimes Plaisance (CNEMP) provides you with a list of approved surveyors in France. The International Federation of Marine Surveyors (FIEM) also has a list of surveyors you can turn to.

Boat brokers

Using a yacht broker is a simple solution for surveying your yacht. The broker acts as a trusted intermediary who puts his technical, nautical and commercial skills at your service, with the aim of accurately assessing the condition of the yacht, its history and its market value. The intervention of a broker guarantees a fair and equitable value for your yacht.

The surveyors

Surveyors, whose directory is available from the French Nautical Industries Federation (FIN), are professionals specially trained to carry out thorough inspections of boats. Their expertise covers assessment of the condition of the hull, engines, electronics, on-board safety and all safety equipment.

5 steps to having your yacht surveyed

Step 1: find a marine or river surveyor.

The first step is to find a boat surveyor who is qualified, experienced and approved. You can carry out this search online, seek recommendations from marine brokers, or turn to yachting associations for advice.

Step 2: Contact the yacht surveyor

Once you’ve identified the yacht surveyor, get in touch to discuss your specific requirements. Take advantage of this meeting to draw up an estimate for the survey of your yacht. This will also allow you to compare the different levels of service and pricing available on the market.

Step 3 Schedule a visit with the surveyor

Once you have accepted the surveyor’s quote, schedule a visit to your yacht at a date and time that suits you. The surveyor will thoroughly inspect every aspect of your yacht and assess its general condition.

Step 4: Receive the survey report

Following the inspection, the surveyor will provide you with a detailed survey report. This report includes all the information relating to the general condition of your boat, any repairs that may be necessary, as well as recommendations for maintenance and safety on board. The document includes information such as :

checking the hull, anodes and propulsion systems for fibreglass boats, signs of moisture and osmosis for steel boats, ultrasonic soundings are taken to measure the thickness of the hull.

The yacht inspection also covers the hull, paintwork, deck, superstructure, equipment, engine and the interior of the vessel, including equipment and structure. Finally, the vessel’s safety equipment and administrative documentation are also checked to ensure that your yacht is compliant.

Step 5: taking action

Depending on the conclusions of the survey report, you will be able to make informed decisions. This may include selling your boat, undertaking any necessary repairs, or carrying out renovation work.

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Boat Survey: What It Is, Who Pays, Do I Need to Spend the Money?

27th jul 2024 by john burnham.

Is a used boat survey worth the time and expense? It’s a valid question that many people ask when considering buying a used boat. After all, buying a boat can be an expensive, time-consuming undertaking, and if you can save time or money during the process, it’s a bonus. But do you need to lay out the extra money for a marine survey before signing on the dotted line? The answer is likely a yes, unless it’s a smaller, simpler, less expensive boat, and you judge that the risk factor of uncovering a significant problem after purchase is relatively low. Let’s walk through these questions to help you consider whether a boat survey may be essential in your case:

Unless you're buying a smaller, simpler, and less expensive boat with a low risk of hidden issues, paying for a marine survey before purchase is a wise investment.

What is a Boat Survey?

A boat survey is often referred to as a pre-purchase boat survey, but it has other names, too, depending on the reason for the survey. In all cases, a professional marine surveyor gives the boat a thorough inspection and writes a report detailing areas where there may be faults or damage, although some surveys as we’ll see are more thorough than others. 

Surveys aren’t limited to specific expensive yachts and superyachts . A prospective owner of all variety of used boats –and indeed new boats that may have been sitting in a yard for a long time–will benefit from having a survey carried out.

Types of Boat Survey

There are several types of boat survey, including:

Insurance survey

This tends to be the most basic of the surveys. It’s a general overview of the value and/or condition of the boat required by an insurance company before they will offer coverage for the vessel. Do you need a boat survey for insurance? In most cases for used boats if you want to insure the boat itself (as opposed to getting liability insurance), the answer will be yes. 

Finance survey

This is similar to the insurance survey. Marine mortgage lenders or finance institutions will usually ask for a survey to be completed before signing off on finance to ensure that what is essentially their asset (or partly their asset) is a good one. 

Pre- or post-transport survey

This assesses the condition of a boat before or after being transported and is again used for insurance purposes.

Full condition survey

Also referred to as a pre-purchase survey when a purchase and sale is contemplated, this is the most comprehensive survey and will dig deeper into the condition of the boat, checking everything from the structural integrity of the hull to the electronics, safety systems, interior cosmetics and more. While all boats will have different requirements, essentially a full condition survey will look at the hull, transom, engine, mechanical and propulsion gear, communications equipment, fittings, and electronics. The surveyor will look for cracks, osmosis, signs of accidents, and water damage, as well as general condition, age-related wear and tear, connections, and deck fixtures.

See the article: Types Marine Surveys: Pre-Purchase, Condition and Damage

Whether buying a used boat or a new one that's been sitting in a yard, a marine survey is beneficial for any prospective owner.

Who Pays for a Boat Survey?

The buyer is responsible for paying for a marine survey, as they are the ones undertaking the risk of purchasing a used boat. Whether or not the boat is bought via a broker, there is unlikely to be recourse if, after purchase, issues are found with the boat. It is the responsibility of the purchaser to bediligent and have their prospective purchase thoroughly checked. 

Another point worth noting is that if you, the buyer, organize and pay for the surveyor yourself, you know they are impartial. Be wary of a seller offering to pay for a marine survey with a surveyor of their choosing (read our guide Buying a Used Boat From a Private Party ). 

Why Do I Need a Marine Survey?

Outside of insurance or finance lenders requesting a survey, you should be getting a marine survey to ensure that your asset is a good one. Whatever budget you have for a boat will likely be somewhat proportional to your income, and the last thing you want is to buy a boat that costs you far more than it’s worth, or is worth less than what you will have to invest into it. 

A marine survey will flag problems there may be with a boat, but also let you know about all the things that are good with it. Far from a report of doom and gloom, it should ultimately ensure you feel reassured and prepared to take the final step to purchasing, or to feel justified and relieved in walking away from something that didn’t feel quite right. 

Can I Negotiate the Sale Price After a Survey?

Once you have your report in your hand, take your time reading through it and don’t be shy about asking about anything you’re unsure of with the surveyor. Remember that the survey is written for you! Armed with the recommendations and status report, you may want to use it to negotiate a better price or ask for certain work to be carried out before purchasing. Be sure to get accurate estimates for the work that needs doing before negotiating the price. While it might seem like you can grab a bargain if the seller is willing to drop the price considerably, you need to keep in mind the work that requires doing both in terms of time and cost. Check out our guide to Buying a Cheap Boat, Is it a Good Idea?  

The survey report can help you negotiate a better price or request repairs before purchase. Make sure you have accurate estimates for any needed work.

How Do I Choose a Marine Surveyor?

If you’re going to spend money getting a marine survey, then you want to ensure you’re getting good service and a thorough report by an experienced surveyor who subscribes to a clear code of ethics (the latter are typically subscribed to by surveyors associations (see below)). Again, it’s always best to use a surveyor who you find yourself or are recommended by a trusted friend as opposed to one recommended by a broker or the seller. While their intentions are typically good, gaining an unbiased, objective report is paramount.

When choosing a surveyor, ask the following questions:

Are they registered with an official surveying organization that regulates its members? In the U.S., the Society of Accredited Marine Surveyors (SAMS) and the National Association of Marine Surveyors (NAMS) are the two main organizations. In the UK, these include the Yacht Designers & Surveyors Association in the UK and the International Institute of Marine Surveying. These organizations provide specific accreditations and have lists of members in different regions, so they are a good place to start looking.

Do they have specific experience in surveying the size, style, and construction of the boat you are considering buying? There are specialist surveyors in sail boats, wooden boats, sports boats, etc. Each surveyor typically has specific previous experience you can ask about, perhaps as a yacht captain or in the military.

Do they produce clear reports? Ask to see a sample report to see the layout, detail, and wording they use before deciding if it is right for you. You want a clear report that offers definitive recommendations or opinions.

What do they charge? Be sure to get official quotes as well as their terms and conditions before agreeing to a marine survey. You also want to ensure that they carry indemnity insurance. 

Do I Need to Be Present for the Marine Survey?

You don’t have to be present for the survey, but it is a good idea to be present if possible. You will learn a lot about the boat you’re buying as you watch the surveyor work, and they can show you things as they discover them, which is easier and more informative than only reading about it in the report later. 

We know that finding the right boat can seem a daunting task. But armed with a library of practical information (see our blog ), advisors on hand to talk you through the process, and of course thousands of boats for sale all over the world, Rightboat.com will ensure you find the right boat for you.

This article was published in January 2022 and updated in July 2024 by John Burhnam

Written By: John Burnham

John Burnham is a marine ​editor and writer with ​decades of journalism experience as ​Chief Editor of​ boats.com,​ Sailing World, Cruising World, and ​other boating websites. As a competitive sailor, he has led teams to world and national titles in the International One-Design, Shields, and other classes. Based in Newport, Rhode Island, John is a​ PCC leadership coach, a member of the ​America’s Cup Hall of Fame Selection Committee​, and a ​past board member of Sail America and US Sailing. For more, see  johnsburnham.com .

More from: John Burnham

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Omsk Oblast

Omsk Oblast ( Russian : О́мская о́бласть , romanized :   Omskaya oblast' ) is a federal subject of Russia (an oblast ), located in southwestern Siberia . The oblast has an area of 139,700 square kilometers (53,900   sq   mi) . Its population is 1,977,665 ( 2010 Census ) [9] with the majority, 1.12 million, living in Omsk , the administrative center .

Prehistory and the Middle Ages

Exploration of siberia, russian empire, soviet years, post-soviet era, administrative divisions, demographics, notable people, sister relationships.

The oblast borders Tyumen Oblast in the north and west, Novosibirsk Oblast and Tomsk Oblast in the east, and Kazakhstan in the south.

Omsk Oblast shares borders with Kazakhstan ( North Kazakhstan Region and Pavlodar Region ) to the south, Tyumen Oblast in the west and Novosibirsk Oblast and Tomsk Oblast in the east. It is included in the Siberian Federal District .

The territory stretches for 600   km (370   mi) from north to south and 300   km (190   mi) from west to east. The main water artery is the Irtysh River and its tributaries the Ishim , Om , Osha , and Tara Rivers. The region is located in the West Siberian Plain , consisting of mostly flat terrain. In the south is the Ishim Plain , gradually turning into steppe, forest and swampy taiga to the north. The soil is sandy and silty. [10] Along the Irtysh River, in t. N. Irtysh region, there is an "oasis" microclimate, with a wooded landscape and gullies. There, the most fertile land in the region can be found. The Omsk region contains many lakes, the largest of which are Tenis -Saltaim, Ik, Ebeyty , Ulzhay and Tobol-Kushly.

The highest elevation in the Omsk region - about 150   m (490   ft) Upland village, the lowest elevation is the water's edge on the Irtysh - 41 metres (135   ft) , near the village of Little Beach. [ clarification needed ]

The property is located in Omsk region 28 specially protected natural territories of regional destinations. Including parks in Bolshereche and Omsk ("Bird's harbor"). [ clarification needed ]

The oblast has a classic continental climate, with cold, snowy winters and hot, dry summers. Average January temperatures range from −42 to −30   °C (−44 to −22   °F) . Average July temperatures range from 25 to 28   °C (77 to 82   °F) and can reach up to 35   °C (95   °F) and even 40   °C (104   °F) . Annual rainfall averages 300–400   mm (12–16   in) . Sunny days predominate.

The southern plains have notably longer and warmer summers and a delayed onset of freezing temperatures. They are also significantly drier than the northern forests, receiving only 250–300   mm (9.8–11.8   in) precipitation annually. Winters, however, are as severe on the plains as they are further north. Spring rains are rare, but late spring freezes are not. The early part of the summer is frequently dominated by hot, dry southern winds.

As of 1   February   2016 , [ update ] on the territory of the Omsk region, there are 35 areas that have the status of protected areas (PAs), regional and local importance.

Archeological findings indicate that the present day territory of the oblast has been inhabited for the last 14,000 years. Neolithic societies in the area lived by fishing and hunting. About three thousand years ago, pastoralism began to take hold. Ust'-Ishim man , the remains of a man that lived 45,000 years ago, was discovered in Omsk Oblast.

Various Turkic states dominated the area throughout the Medieval era. The most notable of these were the Western Turkic Khaganate and the Siberian Khanate . Siberian Tatars , Mongols , Khanty and Mansi tribes, along with others, inhabited the territory.

The Russian history of Omsk began with the 1584 arrival of a Cossack force under the command of ataman Yermak Timofeyevich , who defeated local rulers and established nominal Russian control of the area. To support further expansion tsars Feodor I and Boris Godunov initiated the construction of fortified settlements and military outposts in the south of Siberia in order to defend their subjects from raiding nomadic tribesmen and to exert authority over local populations, specifically over the tribute-paying Siberian Tatars of The Baraba Lands. The first permanent Russian settlement in the region, the city of Tara , was founded in 1594, soon it began to play an important part in fur trade that connected Russia with Central Asia and China.

In 1716 a fortress was constructed at the confluence of the Om and Irtysh rivers on the orders of sublieutenant Ivan Bugholtz. The fortress would form the nucleus for the development of the future city of Omsk. By the second half of the 18th century, Omsk fortress was the largest building of any kind in the eastern part of Russia.

As Russian settlements continued to spread through the Yenisei , Tobol and Irtysh watersheds in the course of the 18th century, so did the development of the Omsk and the surrounding region. In 1753 a customs post was established to tax goods brought into the city by the ever-increasing trade with Kazakh tribesmen. In 1764, when the Siberian provinces of Russia were organized into two governorates with centers in Irkutsk and Tobolsk , the city of Tara and the fortress of Omsk were assigned to the latter. In 1780, on the orders of Catherine the Great the fortress was transferred to Kolyvan Oblast . By this time Omsk had grown to the size of a small city, however, from 1797 to 1804 it did not possess its own uyezd .

In 1804, the territories surrounding Omsk were organized into the Omsk Okrug . The city rose to prominence when Siberia was once again reorganized in 1822, Omsk became the administrative center of the General Governorate of Eastern Siberia rising above the old center of Siberia, Tobolsk. The new governorate was divided into oblasts around the cities of Omsk, Petropavlovsk, Semipalatinsk and Ust-Kamenogrsk populated by Russian colonists and okrugs populated by Kazakh nomads. In subsequent reforms the name of the Oblast was changed repeatedly to The Oblast of The Siberian Kyrgyz (1854), Akmolinsk Oblast (1868), and Omsk Oblast (1917) before finally reverting to the Omsk Governorate in 1918. The authority of the oblast followed further expansion of the empire to Central Asia and included significant parts of modern-day Kazakhstan .

In the 19th century, Omsk, given its strong system of frontier fortresses, became notorious as a premier destination for political exiles and prisoners from the European part of the Russian Empire. Decembrists , Polish rebels , French prisoners of war and political activists of every stripe found their way to Siberia. Among them was Fyodor Dostoyevsky , who spent four years (1850–1854) at the Omsk prison. [11]

The early nineteenth century also saw the growth of industry in the city and in the rest of the Irtysh basin. The Siberian Cossack Army was headquartered in Omsk after 1808 and contributed to the development of the city, by the beginning of the 20th century the Cossacks were a dominant component in the society of both the city of Omsk and the surrounding lands, having reached a population of 174 thousand and holding title to five million hectares of agricultural land. The 18th and 19th centuries also saw the influx of a significant number of German immigrants both from Russia's Volga Regions and from abroad.

In 1925 the Omsk governorate was dissolved into the newly formed Siberian Krai and again reorganized, this time as an Oblast by order of the All-Russian Central Executive Committee on 7 December 1934. Parts of the Ob-Irtysh Oblast and the West Siberian Krai as well as the southern part of Chelyabinsk Oblast were given over to Omsk. In 1943, Kurgan Oblast created from the western portion of the Chelyabinsk Oblast also got a number of Omsk territories. In 1944, the northern part of the Omsk Oblast along with the districts previously transferred to Kurgan became newly established Tyumen Oblast that included Khanty-Mansi and Yamalo-Nenets autonomous okrugs.

The 1950s saw the creation of the petroleum processing industry, as well as the development of various high-technology facilities that came to define the economy of the Oblast for the remainder of the century.

With the dissolution of the Soviet Union the oblast became part of the newly independent Russian Federation. The independence of Kazakhstan gave Omsk an international border to the south, while continued federal policy aiming to rectify the effects of Stalin era population transfers led to the creation of a national German district in an area with a significant, although not a majority, German population around the town of Azovo . On 19 May 1996 Omsk Oblast signed a power-sharing agreement with the federal government, granting it autonomy. [12] This agreement would be abolished on 21 December 2001. [13]

During the Soviet period, the high authority in the oblast was shared between three persons: The first secretary of the Omsk CPSU Committee (who in reality had the biggest authority), the chairman of the oblast Soviet (legislative power), and the Chairman of the oblast Executive Committee (executive power). Since 1991, CPSU lost all the power, and the head of the Oblast administration, and eventually the governor was appointed/elected alongside elected regional parliament .

The politics in the oblast is governed by the Charter of Omsk Oblast. The laws within the authority of the oblast are passed by the Legislative Assembly of Omsk Oblast which is the legislative (representative) body. The highest executive body is the Omsk Oblast Administration. It also includes the executive bodies of the subdivisions such as districts, and is responsible for the daily administration. The Oblast administration supports the activities of the Governor who is the head of the oblast and acts as guarantor of the observance of the Charter in accordance with the Constitution of Russia .

As of 18 January 2019, the departmental register of registered non-profit organizations of the Office of the Ministry of Justice of the Russian Federation for the Omsk Oblast contains information on 2537 non-profit organizations, including 1332 public associations (national associations - 60, regional branches of political parties - 46, trade unions - 328, children's and youth public associations - 55), 308 religious organizations, 30 Cossack societies, and 20 public associations of Cossacks. For example, in the Omsk Oblast there are regional branches of the political parties United Russia , A Just Russia , the Communist Party of the Russian Federation , and others. [14]

As of 2008 , [ update ] Omsk Oblast is the 23rd largest economy in Russia, with a gross regional product of 10.2 billion dollars.

The economy of Omsk Oblast is heavily industrial, with well developed, and growing, service and financial sectors. Agriculture represents a smaller, but still significant, portion of the economy.

Economic activity is concentrated in Omsk, with over sixty-six thousand private enterprises registered, ranging from small-scale retailers to billion-dollar manufacturing. [15]

Omsk was ranked by Forbes as the 6th-best city in Russia for business in 2008, an improvement over its 20th-place ranking the previous year. [16]

The oblast and city governments have made efforts to improve the business climate and foster small enterprise through various incentives and government programs designed to ease the bureaucratic red-tape, a notorious feature of Russian business life, and to generate cooperation within the business community. [17]

The bulk of industrial output, as of 2009, is concentrated in food and tobacco processing ($900 million), hydrocarbon processing ($6.7 billion), chemical manufacturing ($500 m), plastics manufacturing ($200 m) and the manufacture of electrical components ($280 m). The remainder of the economy is dominated by the retail sector and agriculture.

The largest industrial enterprises include the aerospace manufacturer Polyot , the Omsk Aggregate Plant, the agricultural manufacturer Sibzavod, Omsk Baranov Motorworks, and Omsktransmash , which manufactures the T-80 main battle tank. Additionally, Omsk Rubber, the Technical Hydrocarbon Plant, Omsk-Polymer and Omsk Hydrocarbon Processing Plant, represent the petroleum and hydrocarbon industry. Omsk Hydrocarbon is one of the most important oil refineries in Russia. [18]

The oblast operates four thermal power plants, which makes it largely self-sufficient from the standpoint of energy generation.

Agricultural production is concentrated in the Isil'rul'skii District and produces wheat, barley, flax, sunflower, potato, various fruits and vegetables as well as meat, poultry and dairy products.

The food processing sector includes several breweries, a distillery and numerous food packaging enterprises.

Population : 1,858,798   ( 2021 Census ) ; [19] 1,977,665   ( 2010 Russian census ) ; [9] 2,079,220   ( 2002 Census ) ; [20] 2,140,336   ( 1989 Soviet census ) . [21]

Vital statistics for 2022: [22] [23]

• Births: 16,092 (8.6 per 1,000)
• Deaths: 25,900 (13.8 per 1,000)

Total fertility rate (2022): [24] 1.52 children per woman

Life expectancy (2021): [25] Total — 69.02 years (male   — 64.48, female   — 73.45)

According to the 2010 Census, the ethnic composition was: [9]

• 85.8% Russian
• 4.1% Kazakh
• 2.7% Ukrainian
• 2.6% German
• 0.4% Armenian
• 0.3% Belarusians
• other groups of less than five thousand persons each
• 57,518 people were registered from administrative databases, and could not declare an ethnicity. It is estimated that the proportion of ethnicities in this group is the same as that of the declared group. [26]

According to Russia's 2002 Census , Omsk Oblast has one of the lowest birth rates in Siberia. However, birth rates remain higher than the average in heavily German districts - Azovsky Nemetsky National District (24% German), Moskalensky, Poltavsky (22% Ukrainian & 11% German) and Isilkulsky (8% German), even as significant emigration to Germany acts to reduce the overall birth rate. [27] In 2009, the lowest death rate was recorded for Azovsky German National Raion (9.4 per 1000) and the highest birth rate was recorded for Moskalenskom (17.0 per 1000), Isilkulskom (15.2), Maryanovsky (15.8), Pavlogradski (15.8), Tevrizskom (16.6), Ust-Ishim (15.4) and Sherbakulskom (16.2). Regions with the highest population growth were Moskalensky area (5.5 ppm), Azovsky German National Raion (4.8 ppm), Sherbakulsky (3.8 ppm) and Pavlogradskij (3.2 ppm). [28]

Ethnic Russian birth rate in the province is significantly lower than that of the ethnic Kazakhs (by 50%) and that of ethnic Germans (by 20%), according to the 2002 Census.

According to a 2012 survey [29] 35.7% of the population of Omsk Oblast adheres to the Russian Orthodox Church , 3% are unaffiliated generic Christians , 2% adheres to Islam , 1% to the Slavic native faith (Rodnovery), 0.5% to the Catholic Church . In addition, 39% of the population declares to be "spiritual but not religious", 13% is atheist , and 5.8% follows other religions or did not give an answer to the question. [29]

• John Kornievsky (1910–1984), Russian Greek Catholic priest

• 2007 Siberian orange snow
• List of Chairmen of the Legislative Assembly of Omsk Oblast
• List of rural localities in Omsk Oblast
• Омская область

Related Research Articles

Omsk is the administrative center and largest city of Omsk Oblast, Russia. It is situated in southwestern Siberia and has a population of over 1.1 million. Omsk is the third largest city in Siberia after Novosibirsk and Krasnoyarsk, and the twelfth-largest city in Russia. It is an important transport node, serving as a train station for the Trans-Siberian Railway and as a staging post for the Irtysh River.

Tyumen Oblast is a federal subject of Russia. It is located in Western Siberia, and is administratively part of the Urals Federal District. The oblast has administrative jurisdiction over two autonomous okrugs: Khanty-Mansi Autonomous Okrug and Yamalo-Nenets Autonomous Okrug. Tyumen Oblast, including its autonomous okrugs, is the third-largest federal subject by area, and has a population of 3,395,755 (2010).

Tara is a town in Omsk Oblast, Russia, located at the confluence of the Tara and Irtysh Rivers at a point where the forested country merges into the steppe, about 300 kilometers (190 mi) north of Omsk, the administrative center of the oblast. Population: 27,318 (2010 Russian census) ; 26,888 (2002 Census) ; 26,152 (1989 Soviet census) .

Isilkul is a town in Omsk Oblast, Russia, located 120 kilometers (75 mi) west of Omsk, the administrative center of the oblast. Population: 24,482 (2010 Russian census) ; 26,549 (2002 Census) ; 26,430 (1989 Soviet census) .

Nazyvayevsk is a town in Omsk Oblast, Russia, located 120 kilometers (75 mi) west of Omsk, the administrative center of the oblast. As of the 2010 Census, its population was 11,615.

Kalachinsk is a town in Omsk Oblast, Russia, located on the Om River along the busiest segment of the Trans-Siberian Railway, 100 kilometers (62 mi) east of Omsk, the administrative center of the oblast. Population: 23,556 (2010 Russian census) ; 24,247 (2002 Census) ; 25,014 (1989 Soviet census) .

Tyukalinsk is a town in Omsk Oblast, Russia, located 60 kilometers (37 mi) northeast of the Nazyvayevsk railway station on the Trans-Siberian Railway and 120 kilometers (75 mi) northwest of Omsk, the administrative center of the oblast. Population: 11,275 (2010 Russian census) ; 12,007 (2002 Census) ; 12,191 (1989 Soviet census) .

Sherbakulsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the southwest of the oblast on the border with Kazakhstan. The area of the district is 2,300 square kilometers (890 sq mi). Its administrative center is the urban locality of Sherbakul. Population: 21,342 ; 25,486 (2002 Census) ; 29,906 (1989 Soviet census) . The population of Sherbakul accounts for 32.7% of the district's total population.

Sedelnikovsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the east of the oblast. The area of the district is 5,200 square kilometers (2,000 sq mi). Its administrative center is the rural locality of Sedelnikovo. Population: 10,943 ; 12,211 (2002 Census) ; 12,890 (1989 Soviet census) . The population of Sedelnikovo accounts for 48.6% of the district's total population.

Azovsky Nemetsky National District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the south of the oblast. The area of the district is 1,400 square kilometers (540 sq mi). Its administrative center is the rural locality of Azovo. In the Russian Census of 2010, the population was 22,925. The population of Azovo accounts for 26.2% of the district's total population.

Isilkulsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the southwest of the oblast. The area of the district is 2,800 square kilometers (1,100 sq mi). Its administrative center is the town of Isilkul. Population: 18,942 ; 22,216 (2002 Census) ; 22,691 (1989 Soviet census) .

Maryanovsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the southwest of the oblast. The area of the district is 1,700 square kilometers (660 sq mi). Its administrative center is the urban locality of Maryanovka. Population: 27,595 ; 27,802 (2002 Census) ; 30,173 (1989 Soviet census) . The population of Maryanovka accounts for 31.3% of the district's total population.

Omsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the southern central part of the oblast. The area of the district is 3,600 square kilometers (1,400 sq mi). Its administrative center is the rural locality of Rostovka. Population: 94,086 ; 94,251 (2002 Census) ; 90,461 (1989 Soviet census) . The population of Rostovka accounts for 5.8% of the district's total population.

Sargatsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the center of the oblast. The area of the district is 3,800 square kilometers (1,500 sq mi). Its administrative center is the urban locality of Sargatskoye. Population: 20,014 ; 22,320 (2002 Census) ; 23,923 (1989 Soviet census) . The population of Sargatskoye accounts for 40.8% of the district's total population.

Tevrizsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the north of the oblast. The area of the district is 9,800 square kilometers (3,800 sq mi). Its administrative center is the urban locality of Tevriz. Population: 15,485 ; 18,090 (2002 Census) ; 20,249 (1989 Soviet census) . The population of Tevriz accounts for 45.1% of the district's total population.

Ust-Ishimsky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the northwest of the oblast. The area of the district is 7,846 square kilometers (3,029 sq mi).} Its administrative center is the rural locality of Ust-Ishim, which, as its name indicates, is located at the confluence of the Ishim River with the Irtysh.

Znamensky District is an administrative and municipal district (raion), one of the thirty-two in Omsk Oblast, Russia. It is located in the north of the oblast. The area of the district is 3,700 square kilometers (1,400 sq mi). Its administrative center is the rural locality of Znamenskoye. Population: 12,427 ; 13,876 (2002 Census) ; 15,046 (1989 Soviet census) . The population of Znamenskoye accounts for 42.6% of the district's total population.

Abatsky District is an administrative district (raion), one of the twenty-two in Tyumen Oblast, Russia. As a municipal division, it is incorporated as Abatsky Municipal District . It is located in the southeast of the oblast. The area of the district is 4,080 square kilometers (1,580 sq mi). Its administrative center is the rural locality of Abatskoye. Population: 19,837 ; 23,566 (2002 Census) ; 26,453 (1989 Soviet census) . The population of Abatskoye accounts for 40.1% of the district's total population.

Azovo is a rural locality and the administrative center of Azovsky Nemetsky National District of Omsk Oblast, Russia. Population: 5,997 (2010 Russian census) ; 5,376 (2002 Census) ;

Ust-Ishim is a rural locality and the administrative center of Ust-Ishimsky District, Omsk Oblast, Russia. Population: 4,802 (2010 Russian census) ; 5,060 (2002 Census) ; 5,795 (1989 Soviet census) .

• ↑ Президент Российской Федерации.   Указ   №849   от   13 мая 2000 г. «О полномочном представителе Президента Российской Федерации в федеральном округе». Вступил в силу   13 мая 2000 г. Опубликован: "Собрание законодательства РФ", No.   20, ст. 2112, 15 мая 2000 г. (President of the Russian Federation.   Decree   # 849   of   May 13, 2000 On the Plenipotentiary Representative of the President of the Russian Federation in a Federal District . Effective as of   May 13, 2000.).
• ↑ Госстандарт Российской Федерации.   №ОК 024-95   27 декабря 1995 г. «Общероссийский классификатор экономических регионов. 2.   Экономические районы», в ред. Изменения №5/2001 ОКЭР. ( Gosstandart of the Russian Federation.   # OK 024-95   December 27, 1995 Russian Classification of Economic Regions. 2.   Economic Regions , as amended by the Amendment   # 5/2001 OKER. ).
• ↑ "Сведения о наличии и распределении земель в Российской Федерации на 01.01.2019 (в разрезе субъектов Российской Федерации)" . Federal Service for State Registration, Cadastre and Cartography . Archived from the original on 9 February 2022 . Retrieved 29 August 2023 .
• ↑ "Оценка численности постоянного населения по субъектам Российской Федерации" . Federal State Statistics Service . Retrieved 1 September 2022 .
• ↑ "26. Численность постоянного населения Российской Федерации по муниципальным образованиям на 1 января 2018 года" . Federal State Statistics Service . Retrieved 23 January 2019 .
• ↑ "Об исчислении времени" . Официальный интернет-портал правовой информации (in Russian). 3 June 2011 . Retrieved 19 January 2019 .
• ↑ Official throughout the Russian Federation according to Article   68.1 of the Constitution of Russia .
• 1 2 3 Russian Federal State Statistics Service (2011). Всероссийская перепись населения 2010 года. Том   1 [ 2010 All-Russian Population Census, vol.   1 ] . Всероссийская перепись населения 2010   года [2010 All-Russia Population Census] (in Russian). Federal State Statistics Service .
• ↑ Ишимская степь ; Great Soviet Encyclopedia in 30 vols. — Ch. ed. A.M. Prokhorov . - 3rd ed. - M. Soviet Encyclopedia, 1969-1978. (in Russian)
• ↑ "История Омской области" . Omskobl.ru. Archived from the original on 22 November 2012 . Retrieved 13 August 2012 .
• ↑ "Newsline - May 20, 1996 Yeltsin Promises to Maintain Stability, Plays Regional Card" . Radio Free Europe/Radio Liberty . 20 May 1996 . Retrieved 2 May 2019 .
• ↑ Chuman, Mizuki. "The Rise and Fall of Power-Sharing Treaties Between Center and Regions in Post-Soviet Russia" (PDF) . Demokratizatsiya : 146. Archived (PDF) from the original on 9 October 2022.
• ↑ "Список общественных объединений, имеющих право участвовать в выборах - Управление Министерства юстиции Российской Федерации по Омской области" [ List of public associations eligible to participate in elections - Office of the Ministry of Justice of the Russian Federation for the Omsk Region ] . to55.minjust.ru . Retrieved 11 March 2019 .
• ↑ Отчёт о работе администрации города Омска в 2005—2009 годах
• ↑ "Журнал "Forbes" - 30 лучших городов для бизнеса — 2010" (in Russian). 27 May 2010 . Retrieved 30 March 2011 .
• ↑ Галина Балашенко «Заниматься бизнесом станет проще» // «Домашняя газета» № 22 (065), 9 июня 2010 года
• ↑ Russian Regional Economic and Business Atlas Volume 2: Strategic Investment and Business Information ISBN   978-1-577-51030-7 p. 131
• ↑ Russian Federal State Statistics Service. Всероссийская перепись населения 2020 года. Том 1 [ 2020 All-Russian Population Census, vol. 1 ] (XLS) (in Russian). Federal State Statistics Service .
• ↑ Federal State Statistics Service (21 May 2004). Численность населения России, субъектов Российской Федерации в составе федеральных округов, районов, городских поселений, сельских населённых пунктов   – районных центров и сельских населённых пунктов с населением 3   тысячи и более человек [ Population of Russia, Its Federal Districts, Federal Subjects, Districts, Urban Localities, Rural Localities—Administrative Centers, and Rural Localities with Population of Over 3,000 ] (XLS) . Всероссийская перепись населения 2002   года [All-Russia Population Census of 2002] (in Russian).
• ↑ Всесоюзная перепись населения 1989   г. Численность наличного населения союзных и автономных республик, автономных областей и округов, краёв, областей, районов, городских поселений и сёл-райцентров [ All Union Population Census of 1989: Present Population of Union and Autonomous Republics, Autonomous Oblasts and Okrugs, Krais, Oblasts, Districts, Urban Settlements, and Villages Serving as District Administrative Centers ] . Всесоюзная перепись населения 1989   года [All-Union Population Census of 1989] (in Russian). Институт демографии Национального исследовательского университета: Высшая школа экономики [Institute of Demography at the National Research University: Higher School of Economics]. 1989 – via Demoscope Weekly .
• ↑ "Information on the number of registered births, deaths, marriages and divorces for January to December 2022" . ROSSTAT . Archived from the original on 2 March 2023 . Retrieved 21 February 2023 .
• ↑ "Birth rate, mortality rate, natural increase, marriage rate, divorce rate for January to December 2022" . ROSSTAT . Archived from the original on 2 March 2023 . Retrieved 21 February 2023 .
• ↑ Суммарный коэффициент рождаемости [ Total fertility rate ] . Russian Federal State Statistics Service (in Russian). Archived from the original (XLSX) on 10 August 2023 . Retrieved 10 August 2023 .
• ↑ "Демографический ежегодник России" [ The Demographic Yearbook of Russia ] (in Russian). Federal State Statistics Service of Russia (Rosstat) . Retrieved 1 June 2022 .
• ↑ "Перепись-2010: русских становится больше" . Perepis-2010.ru. 19 December 2011. Archived from the original on 7 January 2019 . Retrieved 13 August 2012 .
• ↑ "Демография Омской области" . Demograf.omskmintrud.ru. Archived from the original on 19 February 2012 . Retrieved 13 August 2012 .
• ↑ "Демография Омской области" . Demograf.omskmintrud.ru. Archived from the original on 10 March 2012 . Retrieved 13 August 2012 .
• 1 2 3 "Arena: Atlas of Religions and Nationalities in Russia" . Sreda, 2012.
• ↑ 2012 Arena Atlas Religion Maps . "Ogonek", № 34 (5243), 27 August 2012. Retrieved 21 April 2017. Archived .
• ↑ Hungary Russia sister city relationships

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Omsk, oblast of -- moody's announces completion of a periodic review of ratings of omsk, oblast of.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Omsk, Oblast of

Global Credit Research - 21 Jul 2020

London, 21 July 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Omsk, Oblast of and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Key rating considerations are summarized below.

The credit profile of the Oblast of Omsk (Ba3) incorporates low likelihood of extraordinary support from the federal government. In addition, it reflects the region's historically moderate or weak operating performance, some concentration of tax revenues and substantial refinancing risks given the uneven repayment schedule with bulky repayments. The region suffers from elevated population migration given the subdued regional economic wealth compared to national average. Its economy demonstrates weak growth which translates into modest dynamics of tax revenues. Moderate operating performance and a consistent need for market access for debt refinancing mean the region remains relatively vulnerable to an ongoing supply of credit and possible adverse economic scenarios. More positively, the credit profile incorporates some resilience of revenues to economic cycles due to relative stability of the local economy and authorities' clear policy to reduce leverage which declined to moderate levels during the last three years.

This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.

The principal methodology used for this review was Regional and Local Governments published in January 2018. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

This announcement applies only to EU rated and EU endorsed ratings. Non EU rated and non EU endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

© 2020 Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. AND/OR ITS CREDIT RATINGS AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY'S (COLLECTIVELY, "PUBLICATIONS") MAY INCLUDE SUCH CURRENT OPINIONS. MOODY'S INVESTORS SERVICE DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE MOODY'S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY'S INVESTORS SERVICE CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS ("ASSESSMENTS"), AND OTHER OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY'S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY'S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY'S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.

ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT.

MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.

All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications.

To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODY'S.

To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER.

Moody's Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moody's Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moody's Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $2,700,000. MCO and Moody's investors Service also maintain policies and procedures to address the independence of Moody's Investors Service credit ratings and credit rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moody's Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading "Investor Relations — Corporate Governance — Director and Shareholder Affiliation Policy."

Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody's Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). This document is intended to be provided only to "wholesale clients" within the meaning of section 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY'S that you are, or are accessing the document as a representative of, a "wholesale client" and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to "retail clients" within the meaning of section 761G of the Corporations Act 2001. MOODY'S credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors.

Additional terms for Japan only: Moody's Japan K.K. ("MJKK") is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moody's Overseas Holdings Inc., a wholly-owned subsidiary of MCO. Moody's SF Japan K.K. ("MSFJ") is a wholly-owned credit rating agency subsidiary of MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization ("NRSRO"). Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3 respectively.

MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY125,000 to approximately JPY250,000,000.

MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.