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3 How to Book the Charter

 
Send the Deposit:
Once your favorite yacht has been chosen, you must put down 50% of the charter fee as a good faith deposit. This must be sent to your Broker to be held in escrow until the Yacht Owner has accepted your charter.

Sign the Contract:

Your Broker will prepare the contract and send it to you by email, fax, or post. Your signature is required on the contract first, and will then be sent to the Yacht Owner’s Central Agent, for them to obtain his/her signature. (Until the owner accepts the charter by countersigning the contract, you have not yet booked the charter!)
Executed Contracts:
Once the contract is signed by all parties, your Broker will send you a fully executed copy for your records. Your Broker will then release your deposit, minus his/her commission, to the yacht owner’s Central Agent, for holding in escrow until the day you embark on your charter.

About the Contracts:
Each yacht will have a specific charter contract that it uses for each charter, depending on the areas the yacht charters, and the country in which the yacht is registered.

FYBA Florida Yacht Brokers Association
Also known as the 80/20 Demise, this contract consists of two parts, the Bareboat Agreement and the Yacht Services Agreement. This contract is suitable for US flagged yachts chartering inside and outside the US waters, as well as non-US flagged yachts, chartering inside US waters. It accounts for 80% of the charter fee on the Bareboat Agreement portion of the contract, and 20% of the charter fee on the Yacht Services portion of the contract. On this contract, you, the Charterer, take full responsibility for the operation of the yacht for the duration of your charter. The crew are contractors in this case, and must be approved by the owner’s insurance company prior to and during the charter.
MYBA Mediterranean Yacht Brokers Association
This contract is used by each yacht that is listed in the MYBAnet database, which primarily represents yachts in the Mediterranean and
Caribbean, but is also suitable for foreign flagged yachts chartering in US waters. This contract is in one part only, includes crew food and expenses as part of the charter principal’s expense, and protects the brokers’ commission in case of repeat bookings or sale.
   
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