Types of Charter Contracts
In order to book a luxury mega yacht vacation, you must sign a contract with the owner of the yacht. Several standard contracts are regularly used within the crewed yacht charter industry. Our experts at Regency Yacht Charters are trained to navigate them all, including those that are used in the Americas, Europe and worldwide.
Luxury Yacht Charter Contracts
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.
Finding the Right Contract
The yacht’s representative decides which contract will be offered based on things like the yacht’s certification in the country where it is registered, including whether it is officially listed as a private or commercial vessel. Your Regency Yacht Charters broker ensures that the contract is appropriate for the yacht that is being chartered, and then works exclusively on your behalf to negotiate the contract to your best possible benefit.
Yacht charter contracts can seem complicated, but they have been standardized within the luxury mega yacht and catamaran industry over several decades. Our experts at Regency Yacht Charters are members of the industry’s leading professional organizations and are well-versed in every type of yacht charter contract that is used worldwide. It is our job to represent you—and only you—which we will do with expertise and diligence, just as we have for countless other clients during our many years of booking crewed yacht charter vacations.