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All you wanted to know about chartering, but were afraid to ask

We have trieds to cover all the main aspects of chartering a yacht. Further detailed information and individual colour brochures on individual yachts on our books are available on request. Should you need help establishing your exact requirements or wish to check the availability of a given vessel do not hesitate to contact our office.

MYBA –WMT-Western Mediterranean Terms

The charter fee includes the charter of the yacht with all its equipment in working order, tools, stores, also cleaning material and basic stores for engineers, decks and cabins etc, the crew’s wages food and the insurance of the yacht for marine risk and third party claims and the crew for employer’s liability insurance . The charterer will be charged extra, at cost for all other expenses. These include fuel for the yacht, fuel for the tenders and toys as also, food for the charterer, wines, beers, spirits and soft drinks for the Charterers, other consumable stores, berthing dues and other harbour charges including pilotage fees and charges for water and electricity, taken from the shore, laundry, communication costs and expenses for special equipment placed on board at the request of the Charterer .

CTI-Caribbean Terms

The charter rate includes the hire and insurance of the yacht crew wages, ship’s laundry, all running expenses such as fuel for four hours cruising per day, harbour dues and three meals per day, but excludes soft and alcoholic drinks and local taxes

Payment

A deposit of 50% of the total charter fee is payable by credit transfer to our bankers on signature of the Charter Agreement. The remaining 50 % plus the advanced provisioning allowance together with any delivery or redelivery fees required is payable, one month before your charter commences.

Provisioning

An Advance Provisioning Allowance (APA) is due at the time of the final charter payment. This sum is usually equivalent to 25 % of the charter fee but will vary in accordance with the type of yacht you choose and the details of your charter. The APA covers the cost of fuel, food, beverages, port fees and additional expenses. Your Captain at the end of your cruise will submit a full set of accounts. An up to date summary of accounts can of course be requested at any time. If during the charter costs are running beyond the sum available, additional funds will be required. All outstanding bills should be settled before the conclusion of the charter.

Taxation

Legislation now exists in the European Union requiring all yachts operating in the national waters of the Union to collect Value Added Tax (VAT/TVA/IVA) on all charters at rates that vary between 16% and 20.6 % of the Charter Fee. Under EU Law this is payable by the charterer. However there are interpretations from country to country and some yachts, which have been placed under a Commercial Registry, may not be required to collect the tax.

Insurance

We recommend that Charterers take out Cancellation and Curtailment Insurance to protect their investment if unforeseen circumstances prevent or cut short their charter. All personal effects should be insured against theft, loss or damage.

Gratuities.

This is never obligatory, but we are always asked. This sum is normally between 5 and 15 % of the Charter fee. The best way to ensure that all crewmembers receive equal recognition is to entrust the distribution of gratuities to the Captain. In this way, inconspicuous crewmembers such as engineers and galley staff, who make an important contribution to your safety and enjoyment, will not be overlooked. Please only give gratuities if you are satisfied with the service provided

We have extensive experience in chartering yachts of 100 ft and over. Whilst we have made every effort to present the often technical subject of chartering as simply as possible, our specialist Charter Brokers will be pleased to offer any further clarification.