More than 60 international experts from the legal and nautical fields participated in the fourth edition of the Benetti Legal Symposium, held in Florence and Livorno, which has now established itself as one of the leading international events for legal and contractual analysis in the yachting industry.
A leading forum on international maritime law
The Italian firm Benetti has held the fourth edition of the Benetti Legal Symposium, an event organized by Azimut|Benetti’s legal department in collaboration with the company’s management, which has once again established itself as a strategic platform for legal debate within the international yachting industry.
The event, once again sponsored by the International Chamber of Commerce (ICC), brought together more than 60 lawyers, legal advisors, and consultants specializing in yachting from various international markets on May 4 and 5. The sessions took place in Florence and at the Benetti shipyard in Livorno.
Since its inception in 2023, the symposium has become a key forum for addressing major regulatory developments and trends in yacht construction and sales contracts, as well as for promoting more efficient and standardized contractual practices within the industry.
The new European AML framework is at the center of the debate
One of the main focuses of this edition was the impact of the new European AML (Anti-Money Laundering) regulatory framework, the implementation of which will have a direct impact on the international nautical industry.
During the conference, participants discussed the regulatory implications that will affect brokers, shipowners, operators, and financial institutions involved in the yachting industry, particularly with regard to financial transparency, regulatory compliance, and transaction traceability.
Participants also discussed the need to establish shared principles and global best practices for yacht brokers in an increasingly globalized market subject to stricter regulatory requirements.
ICC arbitration is gaining prominence in maritime disputes
International arbitration once again featured prominently on the symposium’s agenda. Building on the collaboration that began at the previous event, representatives from the ICC presented new case studies related to arbitration proceedings and ADR (Alternative Dispute Resolution) mechanisms as they apply to the maritime sector.
The meeting provided an opportunity to explore the advantages of ICC arbitration as a specialized means of resolving disputes related to the construction and sale of yachts, as well as to make progress on a potential review of the traditional arbitration clauses found in contracts within the industry.
As several participants explained, some companies have already begun to implement ICC arbitration mechanisms following the conclusions reached at previous editions of the Benetti Legal Symposium.
Boat Leasing and Tax Optimization
Another topic discussed was Italian marine financial leasing as a tool for financing and optimizing VAT for certain transactions related to the market for large-scale vessels.
The experts examined the opportunities offered by this approach in the current European context, as well as its compatibility with the new regulatory and tax requirements affecting the maritime and recreational boating sectors.
Georgia Agù, Group General Counsel at Azimut|Benetti, highlighted the strategic value of this initiative for the contractual and legal evolution of the sector.
“The improvements in the negotiation processes for construction contracts and yacht sales demonstrate the value of this annual gathering for discussing recurring legal issues and promoting real progress in industry practices,” he said.
With this fourth edition, the Benetti Legal Symposium continues to solidify its position as one of the leading international forums for legal analysis specializing in superyachts and maritime law.
