Yacht Charter Agreements

1.1 The owner leases the cash charter and the charterer leases the vessel for the charter period for the charter fee. 11. ASSURANCE: The owner undertakes to maintain the yacht for the duration of the charter period against fire, sea and collision risks as well as with protection and compensation with protection. CHARTERER will not be held responsible for any losses or damages covered by such insurance. If the owner does not make such insurance, he will have the same responsibility as if the yacht were so insured. CharterER can take out additional liability insurance at its own expense. NYCSS undertakes to provide the yacht to the charterer and to provide the services and deliveries described here, and the charterer undertakes to charter the yacht and pay for the services under the terms described in this Agreement. If the specified yacht is not available, NYCSS reserves the right to replace a similar yacht. In the event that the replacement yacht costs less or less, NYCSS refunds the price difference, or nycSS has the option to return the entire charter fee. In this case, the charterer may not have any claims against the owner of the yacht or NYCSS for losses, damages, costs or delays. There are a number of standard contracts that are used regularly in the inhabited yacht rental industry. The usual types of contracts are: The MYBA charter contract developed by the Mediterranean Yacht Brokers Association.

It is probably the most widely used contract in the industry. In order to make the payment structure consistent for guests, the extra fees for the charter party are often covered by a wholesale aid (APA) and often correspond to about 25-30 percent of the basic charter tax. For more information on APA and how it is calculated, visit our „Understanding Charter Costs“ page. MyBA (Worldwide YachtIng Association, formerly known as the Mediterranean Yacht Brokers Association) is often referred to as „more all expenses“. Under the terms of a MYBA contract, the following are generally included in basic charter fees; 4.6 In the event of major damage to the vessel during the charter period, which entitles the vessel to insurance, or in the event of a failure of equipment or machinery that renders the vessel unfit to sail or unusable, a pro-rata credit is made for the period: in the event that the vessel was not in a state of navigation or unusable, or (if the charterer chooses to do so and the charter permit subsequent), the charter period is extended by the period during which the charterer or a member of his party did not cause or contribute to the injury or breakdown, and also provided that the owner does not provide any further compensation for the resulting damage or duplication or financial or other means. unless damage or breakdowns are caused by the owner`s negligence and lead to death or personal injury. (Engine failure in an auxiliary yacht is not considered unfit for the vessel under this agreement). CHARTER DATES: From (Time/Date)Port of Boarding:To (Time / Date) Port of Release:Cruising Area:Number of Charter Guests:Number of Days: (Prices are based on chartered passengers) Read the contract It is important that each charter has a complete understanding of the charter contract and how it will be affected, so each customer should take the time to read the contract and become familiar with the content.