Terms of service
1. Acceptance of terms
By accessing or using the MarineClose platform ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you disagree with any part of the terms, you may not access the Service.
2. Description of service
MarineClose, LLC is a Louisiana limited liability company acting as a broker and facilitator. It provides software for coordinating vessel transactions, including deal rooms, draft documents for human review, identity review workflows and proposed payment instructions. MarineClose is not a bank or funds holder and does not take title to vessels. These draft terms remain subject to counsel approval.
3. User accounts
When you create an account with us, you must provide accurate, complete, and current information. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your account.
- You are responsible for safeguarding your password
- You agree not to share your account credentials
- You must notify us immediately of any unauthorized access
4. Transaction services
Our platform facilitates transactions between parties. MarineClose acts as a neutral intermediary and does not guarantee the outcome of any transaction. Users are responsible for conducting their own due diligence.
5. Escrow services
Purchase funds are held by an independent escrow holder or closing agent named in each deal's escrow instructions — never by MarineClose. MarineClose is not a bank. The escrow holder, account structure and any deposit-insurance coverage are stated in each deal's escrow instructions. Any release of funds is made by the agreed funds holder under the transaction-specific instructions. No funds holder is currently agreed and funding is not live. Holds pending a dispute depend on those instructions and the holder's own terms.
6. Fees
MarineClose charges one platform fee of 1% of the final agreed sale price, payable only at closing. The deal terms specify what each party pays. There are no setup or monthly fees. Independent broker commissions and third-party costs are separate. Any additional service fees are disclosed before use.
7. Prohibited uses
You agree not to use the Service:
- For any unlawful purpose
- To violate any laws in your jurisdiction
- To infringe upon the rights of others
- To submit false or misleading information
- To attempt to circumvent platform fees
8. Limitation of liability
In no event shall MarineClose, its directors, employees, partners, agents, suppliers, or affiliates be liable for any indirect, incidental, special, consequential, or punitive damages arising out of your use of the Service.
9. Governing law
The law governing these Terms will be stated in the final Terms after counsel review. MarineClose, LLC's home state does not set the governing law of any vessel transaction; each deal's governing law is proposed and agreed by its parties.
10. Changes to terms
We reserve the right to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days notice prior to any new terms taking effect.
11. Contact us
For questions about these draft terms, contact contact@marineclose.com.