What Does A Yacht Contract Look Like?

The charter contract is a crucial document between the charterer, the yacht owner, and the charter company that provides the boat. It covers all the details of the vacation, including the model of boat, year of construction, and name of the boat you are hiring. The charter period includes dates and times of the beginning and end of the rental, as well as the sailing area. If a cancellation is made by the charterer, the owner has an obligation to try and mitigate this loss by re-letting their yacht. If successful, any excess funds, less expenses, shall be reimbursed to the original charterer up to the amount already paid on account.

A good and experienced yacht charter broker will always have their clients’ best interests at heart, and will do everything to ensure that their requirements are best met. The Mediterranean Yacht Brokers Association terms (MBYA) are best understood as a plus all expenses contract, once called Western Med Terms (WMT). Co-Ownership syndicates should clearly detail what percentage share the co-owner has and how to explore the essentials of yacht charter contracts to ensure a smooth and enjoyable sailing experience.

The charter contract exists as soon as Simpson Yacht Charter has received the completed booking form, duly signed by the charterer, and the full deposit. 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, and other expenses. The sample delivery contract is legally binding and designates Captain Dave Subers as the vessel owners captain.