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For rails and all topside, no problem. Use it all the time. At water line and below, SI bronze.
Jason,
304 Stainless is the most common grade of Stainless and is common at most local fastener stores, big box stores, etc.
316 is a Marine Grade and has higher corrosion resistance. Jamestown Distributers handle the Marine Grade Fasteners in Carriage Bolts as well as Silicon-Bronze Bolts.
Just my $0.02 worth.
Dorf
316 will work much better, Dorf is right though if stainless is underwater most the time it will corrode. We had a main drive shaft ,316, on a boat I used to run that had a few too many years with water around the shaft at the stuffing box and it became pretty pitted, no rust like with 304 but bronze underwater is better choice.
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