An F1 powerboat racing in the ChampBoat series F1 Powerboat World Championship is a competition of power yachts with rules similar to Formula 1 car racing. Each F1 powerboat race lasts approximately 45 minutes following a circuit marked out in a selected stretch of water, usually a lake, river, or sheltered bay. Qualifying periods decide the formation of the grid, and timing equipment records the performance of competitors to decide the final classification and allocation of championship points. The sport is governed by the Monaco based Union Internationale Motonautique or U.I.M. (International Power Boating Association).