According to Boat US magazine, Seaworthy, Vol. 16, No 2, April 1998,  the lead article "Collisions and the Question of Liability" clearly states that the "stand-on" boat can be held liable for a collision which it could have prevented by taking action to avoid the collision.

Rule 17 b (The Rules of the Road, not the racing rules) states: "When, from any cause, the vessel required to keep her course and speed finds herself so close that collision can not be avoided by the action of the give-way vessel alone, shall take such action as will best aid to avoid collision."

In addition, whenever two vessels collide, that mere proof of improper lookout on either vessel does not ipso facto condemn that vessel for the collision. On the contrary, it has been held by the Supreme Court that the absence of a lookout is unimportant where the approaching vessel was seen long before the collision occurred.

Therefore, if the stand-on vessel sees the give-way vessel in advance of a collision, the stand-on vessel has an obligation to attempt to avoid a collision. Actions taken by the "stand-on" vessel to avoid a collision can include slowing down, stopping, changing course, speeding up, or whatever it takes to avoid the collision. These actions should not be delayed to the last possible second but rather started at a point where the stand on boat can complete its action(s) and avoid the collision. If you see the other boat in advance and wait to long to take avoiding action and have the collision, you are held liable!

The above rule of the road  is in large measure the basis for many of our Sailing Rules. The rule is clear. Both the give way and stand on boat have an obligation to avoid a collision. Therefore, the answer to the  question, "What is the stand-on boat suppose to do?", is avoid the collision!

It makes no sense to be dead right!  Even though the "stand-on"  boat has the right of way it must take timely action to avoid a collision. Protest the give-way boat if it remains on a collision course and you are forced to keep clear. Remember, the stand-on boat is liable if it saw the give way boat and could have avoided a collision but did not.

It is highly recommended that all sailors, especially those who race, carry a loud whistle attached to their life jacket so that they can signal other boats of impending danger. Five or more short blasts indicates danger.