Last Updated - 1st October 2025

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At Elysian Nautical Group, we are committed to delivering excellence with clarity, efficiency and discretion. To ensure smooth settlement of invoices across our international client base, please note the following payment guidelines: 

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1. Currency of Payment: 

1.1 All invoices are issues in EUROS (€)

1.2 Payments must be made in EUROS (€), net of all bank charges,  transfer fees and exchange costs. 

1.3 Currency conversions provided on invoices are for reference only. 

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2. Remittance & Transfers:

2.1. Please ensure that your payment reaches our account in full, without deductions. 

2.2 Any shortfall due on fees, charges or exchange differences will remain the (''the Client's'') responsibility. We reserve the right to apply the charges onto the next invoice. 

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3. Payment Terms: 

3.1 Invoices are due upon date of issue. 

3.2 A late payment charge of 8% will be applied after 3 days of non-payment and overdue balances. 

3.3 No discounts are offered for early settlement.

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4. Cash Payments - EU Law Compliance 

4.1 In accordance with 'EU Directive 2015/849 (4th Anti-Money Laundering Directive), Greek Law '4446/2016' and subsequent EU regulations, cash transactions are strictly restricted. 

4.2 Elysian Nautical Group cannot accept cash payments above 'five hundred'  €500.00 (EUROS).

4.3 All invoices over this threshold must be settled via bank transfer or other electronic means such as our secure 'payment link' or 'point of sale - (POS)'.

4.5 This policy ensures compliance with EU 'Anti Money Laundering Legislation' (AML)  and protects both parties.  

4.6 Requests for off record or non-compliance payments will be respectfully declined. 

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5. Client Service: 

5.1 We value prompt settlement as a mark of professionalism and respect. Should you experience any difficulty in making payment, please notify our office immediately at sian@elysiannautical.com so we may assist. 

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6. Bank Details: 

6.1 Full remittance instructions are provided on each invoice. For security, please use only the account details supplied directly by Elysian Nautical Group. 

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7. Advanced Payments & Retainers: 

7.1 For all yacht maintenance and technical works and management services, a 50% advance payment is required on account prior to commencement of works or the ordering of parts. 

7.2 For legal consultancy, compliance and additional Maritime Law service, a retainer on account is required, the terms of which will be set out and agreed with (''the Client'') within the 'Client Care Letter' issued before engagement. 

7.3 These advance payments and retainers are held on account and applied against invoices as they fall due. 

7.4 Engagement of Elysian Nautical Group shall not be deemed to have commenced until such advance payment or retainer has been received in cleared funds.

7.5 Elysian Nautical Group does not offer refunds on advance payments, retainers or services rendered. In relation to parts, any claim for defects, replacement or refund shall be made directly to the third-party supplier. Clients are responsible for checking the manufacturer's warranty terms with the relevant supplier. This clause does not affect (''the Client's'') statutory rights under applicable Greek and EU Consumer Protection Law. 

 

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8. Disbursements & Third-Party Charges: 

8.1 In the course of providing yacht management, engineering or legal consultancy services, it may be necessary for Elysian Nautical Group to incur disbursements (including but not limited to, port fees, tolls, travel costs, courier charges, and third-party certifications). Where practicable, disbursements will be invoices to (''the Client'') directly by the third-party provider. In other cases, disbursements may be paid initially by Elysian Nautical Group and subsequently recharged to (''the Client'') at cost, together with any applicable handling or administrative fees. 

8.2 All disbursements are payable upon, receipt of invoice and are not subject to discount. 

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9. Liability, Enforcement & Security of Payment: 

9.1 Right to Withhold Release of (''the Vessel''). Elysian Nautical Group reserves the right to withhold the launch, release or delivery of any vessel until all outstanding invoices, disbursements and charges have been paid in full. No yacht will be permitted to leave the yard, pontoon or be launched into the water until cleared funds are received. 

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10. Maritime Lien and Salvage Rights:

10.1 In accordance with Greek Maritime Law and International Maritime Conventions, Elysian Nautical Group expressly reserves the right to exercise a 'Maritime Lien' over any vessel for unpaid debts relating to works, management or services provided. In the event of non-payment, Elysian Nautical Group may notify the Port Police and exercise all legal rights including arrest, detention or claim for salvage/removal costs as appropriate. 

 

11. Debt Recovery & Jurisdiction:

11.1 Elysian Nautical Group reserves the right to pursue unpaid sums through all lawful means., including but not limited to: 

11.1.1 Filing claims in the jurisdiction of (''the Client's) domicile and/or (''the Vessel) registration and flag state. 

11.1.2 Registration of unpaid debts with authorised credit reference agencies within (''the Client's) home jurisdiction. 

11.1.3 Commencement of legal proceedings in the Courts of England and Wales and/or Greece at Elysian Nautical Groups sole discretion. 

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12. Acceptance of Terms:

12.1 These 'Terms of Business shall apply to all services provided by Elysian Nautical Group unless otherwise expressly varied in writing and agreed by both parties. Any failure by (''the Client'')  to raise written objection to these Terms within (7) days of receipt of our contract Agreement shall constitute acceptance. 

12.2 Slience or continued instruction of Elysian Nautical Group shall be deemed acquiescence and binding agreement under contract law. 

12.3 No variation, exclusion or waiver of these Terms shall be valid unless expressly confirmed in writing by Elysian Nautical Group. 

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ALL RIGHTS RESERVED.

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