The term “C&V” or “Condition and Value Survey” can be a bit confusing, because it describes the purpose of both a “Pre-Purchase” and an “Underwriting” or “Insurance” Survey. The C&V Survey Report does just what it says- it provides a “snapshot” of the vessel’s condition and value at the time of the inspection. While both of these marine survey types serve the same purpose, the Pre-Purchase survey typically includes more detail. It may also include a separate inspection of the machinery, rigging, etc.
