Marquis Yachts is filing suit against Netherlands-based VanDutch Yachts for the second time in a year, saying VanDutch breached its contract with Marquis to build the Dutch company’s yachts.
Marquis Yachts, based in Wisconsin, filed a complaint in U.S. District Court saying VanDutch had failed to make several payments that caused “over $3.8 million in compensatory and liquidated damages to Marquis.”
Marquis had sued VanDutch in April 2015, saying then it had breached its contract. The companies negotiated and reached a settlement and a new manufacturing agreement.
Under the 2015 contract, Marquis agreed to manufacture several models of VanDutch yachts as forecasted and ordered by VanDutch. VanDutch agreed to pay down payment invoices upon ordering each yacht, and the balance after delivery.
“Because Marquis had to order materials and maintain a skilled labor force to meet VanDutch’s requirements, the 2015 contract further specifically provided for liquidated damages in the event of nonpayment or late payments by VanDutch,” said the complaint, which was obtained by Trade Only Today. “The liquidated damages continue to accrue daily, pursuant to the terms of the 2015 contract.”