Settlement Service discontinued
YachtCloser Documentation has previously provided an add-on to its core registration and documentation offerings, called: Settlement Service, in which we were receiving, temporarily holding, and then disbursing funds as part of the closing or settlement process.
Effective Jan 15, 2020, this additional service is discontinued. This change is due to varying regulations by state, affecting third parties like us, and in an effort to better manage our time and provide even higher levels of service for our Registration and Documentation service.
We realize that brokerages have their own “escrow” or “settlement” bank accounts in most cases and are already capable of managing wire transfers as part of the closing process. In our efforts to continue providing outstanding levels of service for vessel registration and documentation, we felt this change was a needed adjustment as we begin 2020.