Secured Marine Transactions, a division of Secured Marine Trust, LLC - Corporate Profile
1/2008
Overview
Secured Marine Transactions, a division of Secured Marine Trust, LLC (SMT) was founded in 2002 with the goal of streamlining the marine sales transaction process. Seeing this opportunity, SMT created an internet based application (ONEtoolSM) for data management.
SMT also offers bonded escrow services (Secure FundsSM), Marine Financing and Insurance Services. With ONEtool, Secure Funds, Marine Financing and Insurance Services, Secured Marine Transactions provides all the services needed to simplify the vessel transaction
process for any dealer or broker.
Transaction Management
ONEtool is an internet-based application for expediting and administering the marine transaction process. Each transaction may be followed from the time a vessel has been listed or received into inventory until the sale has been finalized and funds have been disbursed. Vessel TrackSM
is available within ONEtool and is a tool that allows users to search the USCG database by vessel name, HIN # or owner name. This data may be imported into ONEtool to create a listing or originate a sale. ONEtool's single data entry to support all aspects of the transaction reduces repitition and the likelihood
of errors. The forms generator creates documents needed for the vessel transaction, including YBAA standard forms or customized documents for your brokerage or dealership. Countdown to ClosingSM is a closing checklist that is integrated into every sale allowing the transaction to be
tracked through the process. ONEtool streamlines the transaction process, which reduces time and cost associated wtih every sale. Additionally, ONEtool provides access to Secure Funds and Marine Financing and Insurance.
Bonded Escrow
Secure Funds is SMT's third party bonded escrow service, which provides unmatched security and a greater level of trust for all parties involved in each vessel transaction. Secure Funds establishes an escrow account for each individual transaction and assumes all fiduciary responsibilities for acceptance and
disbursement of funds according to contract terms and disbursement instructions. SMT's Secure Funds agent provides immediate notification via fax or e-mail to clients of all transactions throughout the process. Using this service reduces the potential risk of fraud and easily avoids conflict of interest.
This service may also be accessed through ONEtool.
Finance & Insurance
SMT's Marine Finance and Insurance offers competitive rates and terms for new and used boats. A variety of loan structures are available to meet an individual's needs with SMT's access to the top marine financial companies. In addition to loans for the purchase of a boat, SMT offers refinancing of an existing
loan and cash out to upgrade or re-power your boat. Fast and efficient approvals are obtained through an experienced and professional marine financing team. The SMT representative assigned to each transaction will help make the buying experience as smooth as possible. Marine Financing and Insurance is also
accessible through ONEtool and applications may be completed online.
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