Luxury yacht rentals are booked by a yacht charter contract. Once you have decided to plan and book a luxury yacht holiday, you must sign a yacht rental agreement to book the yacht. Caribbean Terms Inclusive (CTI) – For yachts operated under CTI, sometimes called SCT (Standard Caribbean Terms), the charter tax includes all items on MYBA terms plus three meals a day and fuel for four hours per day average on the charter. Some yachts operated in Caribbean conditions contain all drinks except vintage wines and champagnes. We specialize in one thing and one thing – private charters worldwide, and we have been doing this for a long time with many satisfied customers. When a charterer terminates a charter on the basis of COVID-19 (for example. B due to quarantine or flight cancellation), the owner has the right to demand all payments paid and due by the charterer. Operating costs – Crew charter yachts include different items in their price depending on type, size and cruise area. Operating costs (food, fuel, etc.) including or not are determined by the operating conditions in which a yacht is chartered. A simple explanation of the usual terms ensues. The operating conditions of most yachts can be categorized into two general categories; “plus all expenses” (myba conditions) and “inclusive” (CTI).
For yachts operating on inclusive terms, meals and many operating costs are included. Drinks are often not included in the price, but may be for some yachts. For motor yachts operating under all expense conditions, a general rule for cost estimation is to pay between 20% and 30% more of the basic charter supplement. Sailing yachts are generally inferior to those of motor yachts. Western Mediterranean Notes (WMT) – often referred to as the Mediterranean Yacht Brokers Association (MYBA). Subject to WMT (OR MYBA) charter charge includes chartering of the yacht and equipment, salaries and food of the crew, boat linen, essential elements of the operation, and insurance of the yacht for marine risk, third-party claims, and crew for employer liability insurance. The charterer is charged extra and at the yacht`s expense for all other fees. These expenses include food and all drinks for charterers, fuel for yacht and auxiliary boats, docking, if applicable, VAT, taxes, port taxes, communications, laundry and electricity and water on the coast. Both the Mediterranean Yacht Brokers Association (“MYBA”) Standard Charter Agreement and the American Yacht Charter Association (“AYCA”) Recreational Bareboat Charter Agreement have provisions on the case of force majeure. The force majeure provisions contained in the two agreements are similar, as are the contractual consequences in the event of force majeure. Charter Agreement – Most fully manned charter yachts use a charter agreement that was sponsored by MYBA (Mediterranean Yacht Brokers Association) and accepted by CYBA (Charter Yacht Brokers Association) and AYCA (American Yacht Charter Association).
The agreement defines the terms of the Charter, payment plans, cancellation policies and defines the rights and obligations of all parties in the event of an eventuality. While the charter agreement may seem scary at first glance, it is relatively simple, especially considering that you are taking charge of someone`s millions of investments. Make sure you understand the terms and terms of the charter agreement. These charter contracts are often for yachts worth millions of dollars and we recommend that all customers read them carefully and ask our specialists any questions that come to mind. While our mission is to represent you, our client, we are not legal professions, therefore, if you have concerns about a particular condition in the contract, we recommend you consult your legal expert. We are naturally happy to discuss the Charter with them. Free – The crew`s usual tip is 10%-20% of the tank fee