Yacht Charter Contracts

Having a solid contract is essential in any venture, especially when it comes to yacht charters. A well-crafted charter contract defines your rights and obligations and outlines crucial cancellation policies, ensuring your protection. This comprehensive document addresses every potential scenario, giving you and the yacht owner confidence and peace of mind. It encompasses all necessary details regarding the yacht charter, including dates, locations, payment terms, and insurance coverage, making it a vital element of your charter experience.

The most common yacht charter contracts are:

 

MYBA Contract - Western Mediterranean Terms (WMT) - MYBA Terms

MYBA contracts are internationally recognized and respected in the yacht charter industry. An MYBA yacht charter contract provides a standardized contract, offering clear and consistent terms that are understood by all parties involved in chartering a yacht. The parties include the yacht owner, the yacht manager, the yacht broker (oftentimes, the yacht broker also has the role of manager), and the charterer. MYBA terms clearly define all yacht charter terms, from delivery, crew, and Captain's authority to cancellation, breakdown, insurance, payment of the charter fee, and others. The clauses included within the contract are comprehensive and have been crafted to account for all possible scenarios. In the MBYA terms contract, the charter rate includes the hire of the yacht with all its equipment in working order, tools, stores, cleaning materials, the crew's wages, the crew's subsistence, the insurance of the yacht for marine risk, and third party claims and the crew for employer's liability. The charterer pays All other operating expenses via an APA account, such as fuel for engines and generators, fuel for tenders and motorized water toys, harbor fees & taxes, custom clearances, all food & drinks, pilotage fees, communication costs, and others.

 

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APA - Advanced Provisioning Allowance

The Advanced Provisioning Allowance (APA) is a powerful tool for charterers, giving you complete control over your expenses and allowing you to savor every moment of your yacht adventure! This allowance covers various operating costs, such as fuel, harbor fees, customs fees, provisions, and beverages—both alcoholic and non-alcoholic—and any special requests you might have. The APA typically ranges from 25% to 40% of your charter fee and is due alongside your final payment about a month before your exciting journey begins. Your Captain will expertly handle all APA-related payments and provide a detailed breakdown of expenses at the end of your charter, ensuring complete transparency. Should you have any unused funds, you will be promptly reimbursed. Conversely, if any additional expenses arise, they will be settled in cash before you disembark. This approach fosters transparency and convenience, ensuring your yacht charter is smooth sailing and an unforgettable experience filled with joy and relaxation!

 

 

Standard Eastern Mediterranean Terms (SEMT) Gulet Terms

This contract is designed for yacht charters in the stunning East Mediterranean, ensuring an exceptional and tailored experience.

Some Gulets and Motorsailers are contracted under the EMT (Eastern Mediterranean Terms – Gulet Terms). The charter rate includes accommodation on the vessel, crew and their expenses, fuel for up to 4 hours of cruising per day, fuel for generators (typically limited to A/C usage), public harbor fees & taxes, use of recreational equipment, and tourist taxes. VAT is payable extra by the charterer. You can choose from our Half board or Full board food and drink options, including Alcoholic or Non-alcoholic beverage packages. Obligatory extra costs in these terms are Food options (Half board or Full board) and Beverage options (Alcoholic or Non-alcoholic packages). Additional expenses may include port, marina fees, anchorages, day trips, delivery fees (if appropriate), extra navigation hours, fuel for tender-operated watersports, and other expenses not explicitly mentioned.

 

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Caribbean Terms Inclusive (CTI)

 

Caribbean Terms Inclusive (CTI) are an exceptional choice for those looking to charter smaller vessels in the stunning Caribbean waters. Often referred to as Standard Caribbean Terms, these agreements offer a "mostly all-inclusive" experience that enhances your vacation. CTI terms simplifies your journey and ensures memorable sailing experiences. Although MYBA and CTI are the most prevalent contracts in the industry, you may discover other yacht contracts that cater specifically to the size of the yacht and your desired destinations, providing you with tailored options for your adventure. 

When you opt for CTI terms, you'll enjoy more than just the base charter fee. The package typically includes:

 

- Three delicious meals each day

- Fuel for four hours of enjoyable cruising daily

 

While some drinks are included, premium selections like fine wines and Champagne will incur additional costs. Moreover, any fuel usage beyond the four allotted hours, including tenders, jet skis, berthing fees, and communication charges, will apply.

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A Bareboat / Demise Charter Contract

 

Experience the freedom of the open sea with a bareboat charter, also known as a demise charter. Usually, bareboats are available as sailing yachts and catamarans up to a maximum of 64 ft.

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This exceptional arrangement allows you to hire a yacht without a skipper, crew, or provisions, giving you the autonomy to navigate at your leisure. Perfect for experienced sailors, this unique contract empowers you to take full responsibility for the yacht, including its operation and maintenance. Enjoy complete control over your sailing adventure, and make it your own! A valid skipper license is required for bareboat charter, though you can still hire a skipper or hostess for an additional fee. Embrace the adventure!