1. PAYMENTS: The charter fees are deemed to be paid into an escrow account and paid to the OWNER in the following way: No more than 35% of the charter fees plus delivery costs and other additional costs incurred no more than ten (10) days before the start date of the charter period. The balance of the charter fee will be distributed no earlier than the start date of the charter. It is also understood that the OWNER considers that the charter fees are not refundable. If the CHARTERER cancels before the start of the charter period, the deposits will be refunded under the following conditions: The fees will be refunded on a pro rata basis, less a service fee equal to the BROKER`s full commission if the yacht is rebooked for the same period or part thereof. If a new booking is not possible, no refund will be made. If the OWNER cancels, the OWNER will reimburse the CHARTERER through the broker all fees paid from that date, including the broker`s commission. 10. SAILING RESTRICTIONS: THE CHARTERER undertakes to limit the yacht`s cruise to the cruising areas indicated on the 1st page of this contract. Why this is important: Understanding all the details of your contract protects you and the yacht owner. So if you have any questions or are unsure of the details, ask your broker. Yacht brokers have extensive experience with any type of contract and can help you understand all the details. Once you have accepted the terms of the contract, your broker will put everything together so that you can review and sign it.
Although rarer than the above, SEMT are still sometimes used and offer the same principles as CTI, but while CTI covers three daily meals, SEMT only offers breakfast and lunch on the basis that guests are likely to eat on land most evenings. Under SEMT, the basic charter fee includes; In addition to the lower fuel costs, additional food and drinks are required for the charter – mooring fees outside Greek waters, communication costs and local taxes. The MYBA charter contract developed by the Mediterranean Yacht Brokers Association. This is probably the most widely used contract in the industry. There are a number of standard contracts that are regularly used in the crew yacht charter industry. Common types of contracts are: Formerly known as western Mediterranean Terms, the terms MYBA (Worldwide Yachting Association, formerly known as mediterranean Yacht Brokers Association) are often referred to as „plus all costs“ contracts. Under the terms of a MYBA contract, the following generally include basic charter fees; Luxury yacht charters are booked through a yacht charter agreement. Once you have decided to plan and book a luxury yacht holiday, you will need to sign a yacht charter agreement to book the yacht. Reading the contract It is important that every charter client has a complete understanding of the charter contract and how they will be affected by it, so every guest should take the time to read the contract and get acquainted with the content. MYBA conditions cover yacht charter, including all toys and water equipment, salaries and food for the crew, as well as ship laundry.
However, expenses such as food and drinks for guests, fuel for the yacht and water toys, mooring fees, communication fees and other surcharges are paid by an escrow account that you have set up before boarding. 11. INSURANCE: The OWNER undertakes to fully insure the yacht against the risks of fire, sea and collision for the duration of the rental period, as well as with protection and compensation coverage. The charterer will not be liable for any loss or damage covered by this insurance. The ABSENCE of the OWNER to offer such insurance imposes on him the same responsibility as if the yacht were insured in this way. The CHARTERER may take out additional charter liability insurance at his own expense. 3. BROKERAGE: The owner and charterer acknowledge American Yacht Company, Inc. or Luxury Yacht Vacations, Ltd. as the sole BROKER under this agreement. The OWNER undertakes to pay the BROKER the usual and usual brokerage fees in connection with this charter and for all subsequent extensions and rentals of the yacht by the CHARTERER arranged by the BROKER for a period of 2 years from the end of the initial charter.
The parties understand and agree that the function of the BROKER is exclusively to organize the Charter and that the BROKER is at no time responsible for the actions of the CHARTERER, the OWNER or the crew, nor the BROKER responsible for the execution of the CHARTER or the actions or events beyond the direct control of the BROKER. AYCA charters developed by the American Yacht Charter Association. There are two types of AYCA contracts; „Uninspected“ and „Bare Shell/Services“, a pair of agreements. Although charter paperwork has become much more standardized lately, a charter broker will have a lot of experience with charter contracts and will be able to explain any clauses that charterers might find confusing. A charter agreement is carefully drafted to protect both the charterer and the yacht owner. Charterers must be aware of marine rules and regulations, and the contract is therefore designed to comply with the laws of the country under which a yacht is flag. Although MYBA and CTI are the most commonly used contractual terms, there are others that charterers may encounter when booking a yacht charter, and this often depends on the size of the yacht and where the yacht travels. 13. DRUGS AND OTHER ILLEGAL ACTIVITIES: THE USE, TRANSPORTATION OR POSSESSION OF ILLEGAL DRUGS OR CLOTHING (INCLUDING MARIJUANA) OR OTHER CONTRABAND OR PARTICIPATION IN OTHER ILLEGAL ACTIVITIES IS STRICTLY PROHIBITED.
Participation in any of these activities by the CHARTERER or a guest of the party constitutes a violation of the Charter and will result in the immediate termination of this Agreement without refund of payments made by the CHARTERER. The CHARTERER is responsible for the loss or damage caused to the yacht due to such violations and will be brought ashore to the next port of call. 2. LATE PAYMENT: If a deposit of the charter fees is not paid by the specified date, the CHARTERER will be informed and has 14 days to pay the balances due. If the delay continues thereafter, the OWNER will be informed by the BROKER and the OWNER has the right to terminate this contract without prejudice to its rights with regard to arrears of charter funds or any violation by the CHARTERER of the conditions contained herein. A complete guide to understanding the rental documents Your rental agreement is a document between you, the charterer and the owner of the yacht. This agreement covers all the details of your holiday: 6. AUTHORITY: The OWNER guarantees that the captain meets all the necessary requirements to legally order the yacht in the chartered area.
Although it is agreed that the CHARTERER may determine the general movements and destination of the yacht within the limits of this Agreement, it is assumed that the Master is in full command and that the CHARTERER undertakes to respect his judgment regarding the release, navigation, weather conditions, anchorages and other relevant matters. 9. RESTRICTED USE: THE CHARTERER agrees that during the term of this Charter, the Yacht will be used exclusively as a pleasure craft for the sole and appropriate use of it, its family, guests and servants and will not carry goods or passengers for payment or trade or will in any way violate the laws of any government in whose jurisdiction the Yacht may be located at any time. and, by the way, must abide by the law. .