The Botswana Maritime Affairs Act incorporates a range of provisions for the recordation of security-related instruments and documents of title. Recordation provides notice to creditors, purchasers, suppliers, and other parties with an interest in such transactions, while establishing an internationally enforceable framework for protecting the legal rights recorded with respect to a vessel under Botswana Maritime Affairs. Preferred status, granted to a mortgage under Chapter 3 of the Act, ensures that the lender’s mortgage lien takes priority over those of certain other claimants.

Mortgages can be pre-registered by submitting faxed copies of the following documents. For final recordation, the original signed and notarized documents must be received by courier at the Botswana Maritime Affairs Head Office:

• Preferred Mortgage (3 signed and notarized copies)

• Memorandum of Particulars (3 signed and notarized copies)

• Bill of Sale or Builder’s Certificate (3 signed and notarized copies) — required in cases of change of ownership, initial registration of the vessel, or simultaneous registration and mortgage recordation.

Faxed or emailed copies of these documents may be accepted at the time of closing, allowing preparation of a Certificate of Ownership and Encumbrance to be delivered to the Mortgagee on the closing date. If the mortgage is recorded after the vessel’s initial registration, a revised Certificate of Registration will be issued reflecting the Encumbrance recordation, at no additional cost.