WHY A SURVEY? CHOOSING A SURVEYOR 1. To provide adequate knowledge of a vessel to  the prospective buyer in order to determine whether he or she wishes to proceed with the purchase. In choosing a surveyor, consider the following factors: 2. To establish the Estimated Fair Market Value. High ethical standards and an unbiased approach. 3. To provide substantial information to lender, facilitating the decision-making process in acceptance of the financial risk. Trained personnel with an on-going training program. 4. To provide the insurer with pertinent structural and safety features to ensure that the vessel is a sound insurance risk. Acceptance by the major lending and insuring institutions in your area. Use of a comprehensive reporting system that is easy to understand and evaluate. WHEN SHOULD A SURVEY BE CONDUCTED? At the time of purchase of any used vessel At the time of any major damage At the time of on and off charter At the request of the Insuring Company At the request of the Financing Company Shortly after any Major Grounding At a minimum of every four to five years