Oxton Law | Publications
Experience Brings Results
This links to the home page
Publications

Here you will find a listing of all our publications. To view a publication, select it from the list below.

  • Enforcement of the US Gross Freight Tax May Be on the Horizon
    03/08/2014

    Shipowners which are not subject to taxation in the US will have to provide a tax form to charterers in order to avoid a 30% withholding of hire or freight if a change recommended by a tax advisory group is implemented by the IRS.  Provision of the form will enable the IRS to better enforce payment of the gross freight tax or the filing of returns claiming an exemption.

  • The US Gross Freight Tax in a Nutshell
    August 2013

    The US gross freight tax is levied upon each non-US taxpayer that has income from the transportation of passengers or cargo by ship to or from the US.  The effective rate of the tax is 2% of the gross revenue.  The tax applies to the owner and all charterers.  Most shipping companies are exempt from the tax under Section 883 which is based on an equivalent reciprocal exemption by the shipping company’s tax jurisdiction.  In some cases, a treaty exemption is available, but eligibility under treaties is more restrictive.  Under both methods, the benefit of the exemption is available only if the ultimate shareholders of the shipping company sign ownership statements and the company files a US tax return.

  • Author of VesselDocs Online's Contracts and Forms
    February 15, 2013 - News

    VesselDocs Online is a web-based system for the automated production of contracts and other forms in which an interactive interview is used to generate documents. The MOA Maker, avaliable at VesselDocs Online, is a system for production of a Memorandum of Agreement (Sale and Purchase Contract) for ships based on the NSF Saleform 2012 with options to add many commonly added clauses. The MOA Maker also generates a complete set of closing documents and related contracts, including froms of a Deposit Escrow Agreement, an Addendum, a Novation Agreement, a Letter of Credit with drawdown documents and an Escrow Agreement for Sellers' Delivery Documents.

  • New Office Address
    February 12, 2013 - News

    We have moved to 1879 Palmer Avenue, 2d Floor in Larchmont, NY 10538.  All other contact detalis remain unchanged.

  • Issues with the Saleform’s Payment and Closing Provisions and a Proposed Solution
    August 2012

    An arbitration decision in London illustrates a major shortcoming in the Saleform’s provisions for payment and closing procedures.  The Saleform requires that payment and delivery be simultaneous.   Under most payment methods in use today, these events are not simultaneous. Parties may unwittingly breach their MOA by nominating banks and payment methods that are not sufficiently “simultaneous.”  Changes to the Saleform are proposed to cure this problem.  Comments on the proposal are welcome.

  • Accolades
    April 23, 2012

  • Basic Facts on FATCA and Maritime Contracts
    April 2012

    A controversial new US withholding tax known as FACTA (the Foreign Account Tax Compliance Act) is of interest both because it may be a potential trap for those engaged in international maritime transactions and also because it may result in agreements among countries to share data about their citizens’ foreign accounts.

  • Ship Mortgages in favor of “Owners” – an Update
    June 2011 | By Glen T. Oxton

    In the M.V. OSPREY, the court upheld a ship mortgage in favor of an equity holder in the LLC owning the vessel.

  • Digital Signatures Revisited
    June 2010

    Using digital signatures on electronic documents would provide significant efficiencies in business transactions.  It would also provide superior protection against inadvertent or deliberate alterations especially when compared to the common practice of circulating signature pages.

  • Ship Mortgages in Favor of Owners
    June 2010

    The hornbook rule that an owner may not have a maritime lien on his own vessel does not apply to a ship mortgage lien. Ship mortgages create statutory liens enforceable in admiralty, but they are not maritime liens.

  • Ship Registry, Mortgages and Liens in Electronic Form
    September 2005

    The potential benefits of a digital ship registry, how one might work, and some of the obstacles to going digital are reviewed in this note.

  • The New Lender - Lessor Safe Harbor under OPA 90 - Five Things You Need to Know
    June 2005

    OPA 90 was amended in 2004 to provide a safe harbor for lessors and lenders from strict liability for oil pollution. Under certain circumstances a lessor or lender will not be considered an "owner or operator"  even if it holds legal title to the vessel or is operating it in foreclosure.

  • The New U.S. Tonnage Tax (2005)
    March 2005

    The American Jobs Creation Act of 2004 created a tonnage tax election for certain operators of U.S. Flag vessels.

  • Case Note, LADY B.
    October 2003 | New York Law Journal

    The Owner of a U.S. flag yacht lost his vessel to a judgment creditor of the seller as a result of failing promptly to record his bill of sale.  The outcome depended on whether maritime or land law was applicable to the yacht

  • Case Note, MV SAIBOS – When Does a Newbuilding Become a “Vessel?”
    February 2002

    Contracts for the construction of a ship are not maritime contracts, and until a newbuilding is launched and completed it is not subject to maritime law.

  • Case Note, M.V. MR. DEAN - Lien Priority Issue
    October 2002

    The priority of a lien for breach of charter relates back to the charter commencement date, and will be senior to a mortgage that is recorded after the charter commences.