MYBA CHARTER CONTRACT AND TERMS
The MYBA charter agreement, used by the most important Charter Brokers worlwide, clearly defines the rate and the terms of a charter contract. Based on MYBA Terms (Mediterranean Yacht Brokers Association), the charter rates imply that the yacht will be provided to the charterer in full commission and with all necessary equipment, properly insured for marine risks and managed by a crew, whose wages, food and clothing are for the owner’s account. All other operating expenses are payable by the charterer (see below ‘Advanced Provisioning Allowance’ (APA) :
"MYBA Charter Agreement": Under the MYBA Charter Agreement Terms the charter fee includes charter of the yacht and equipment, crew wages and food, ship's laundry, basic operating consumables, and insurance of the yacht for marine risk, third party claims, and the crew for employer's liability insurance. The charterer will be charged, at cost, for all other expenses. These expenses include but are not limited to food and beverages for the charter guests, fuel for the yacht and auxiliary craft, dockage, VAT if applicable, taxes, harbor fees, communications, guest laundry, shore-side electricity and water, onshore transfers and tours and anything else not specifically included in the charter fee.
‘Advanced Provisioning Allowance’ (APA): The Advanced Provisioning Allowance is collected with your final payment and is forwarded onto the Captain in order to prepare for your charter. The Provisioning and preparation is done by the crew based upon your specific preferences. Food and beverage provisions are custom ordered, charged at cost price. Fuel is also charged at cost price on consumption. The final expenses may be more or less depending on your individual requirements. The captain is responsible for the accounting of your expenses; he advises you periodically as to the disbursement of the APA and will provide receipts at the end of the charter. Should you spend more than your estimated expense allowance, say by ordering unusually expensive items, requests of rare liquors or wines, long staying in expensive ports or doing excessive motor cruising hours, you will be expected to reimburse the yacht as you leave the charter. This is rare but you need to be aware of this possible expense. Conversely, unspent APA will be refunded to you cash or by bank transfer at the end of the charter. The benefit of paying for expenses additionally is that you have more control over your costs and you only pay for what is ordered.
VAT - There is a VAT imposed by European Union nations. VAT can vary between 6,6% and 21% of the charter fee. Specifics of VAT will be discussed directly with you.
Payment Terms - A deposit of 50% of the total charter fee is payable by bank transfer on signature of the MYBA Charter Agreement. This confirms your booking. The remaining 50%, plus an Advance Provisioning Allowance, together with any taxes, delivery/redelivery fees and any additionally agreed charges, is payable by bank transfer five weeks before the charter commences.
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Contracts, conditions and terms