Many mega yacht charters are booked using a MYBA contract, which was designed by the Mediterranean Yacht Brokers Association. Other crewed yacht charters are booked with contracts created by the AYCA, which is the American Yacht Charter Association. Regency is a member of MYBA and Kathleen Mullen is a Past President and current Treasurer of AYCA and a member of the Charter Yacht Brokers Association (CYBA). CYBA created a new contract in 2020. Others use what is called a bareboat demise contract.
These various luxury yacht charter contracts cover everything from the yacht’s weekly rate to water toys usage to the conduct that is expected of charter clients. Drug use, for instance, is strictly prohibited in ALL charter contracts and can result in the immediate end of a charter with no refund due to the client. Safety too, is covered in these contracts, which state that the captain will work to meet all your desires—but retains the right to make final decisions to ensure the safety of the yacht, crew and guests. You can expect to see clauses that outline the maximum number of people allowed onboard, what happens if there is a breakdown of the yacht’s equipment, and what insurance the owner must have in place.