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• May 24, 2023

YPI CREW, in partnership with Hill Dickinson law firm, have created a free downloadable guide designed to help superyacht Captains and their crew navigate through the complexities of the MYBA Charter Agreement (2017, current terms).

The MYBA Charter Agreement is a legal contract that establishes a binding relationship between the yacht Owner and Charterer as it outlines the key contractual obligations that charter Captains and crew must fulfill on behalf of superyacht Owners.

By understanding the key terms of the Charter Contract, Captains and crew should feel better prepared and more confident facing the busy charter season ahead.

Written by Martin Penny and Francesca Conn , experienced lawyers from Hill Dickinson, the guide draws on their expertise in handling numerous charter disputes representing both Owners and Charterers. By sharing their knowledge and insights, Martin and Francesca aim to help yacht Captains prevent potential issues from escalating into legal claims, ensuring a successful charter season.

The "Charter Contracts for Yacht Captains" guide emphasizes the crucial role that yacht Captains and crew play in upholding the contractual obligations of the Owner and promptly resolving any arising issues. As the charter experience is fundamentally rooted in a legal contract, it is essential for Captains and crew members to familiarize themselves with its key terms to minimize risks and provide an unforgettable luxury experience for superyacht charter guests.

Download 'Charter Contracts for Yacht Captains' Here:

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By SuperyachtNews 23 Aug 2016

MYBA explains revised Charter Agreement

Released in may, the 2016 amendments to the myba charter agreement have been attracting attention as the industry becomes aware of the revised contract.….

Released in May, the 2016 amendments to the MYBA Charter Agreement have been attracting attention as the industry becomes aware of the revised contract.

The majority of the changes are minor, intended as qualifiers to clarify pre-existing clauses. However, there have been significant amendments to Clause 19, regarding incidences of salvage, and to Clause 20, regarding the payment of charter fees and other monies to the owners.

With regards to Clause 19, MYBA have reverted back to previous wording that existed in the 2002 agreement, following the committee’s decision that this version explains the process more clearly.

Clause 19 now states that; “During the period of the Charter, the benefits, if any, from any derelicts, salvages and towages, after paying the Crew’s proportion, and a proportion of the Charter Fee during the time when the Vessel is engaged in providing salvage assistance, and expenses during this time directly related to the salvage, shall be shared equally between the Owner and the Charterer.”

The alteration to Clause 20, regarding payment of charter fees, includes clarification of the correct procedure to respond to complaints, which up until now was a topic that had drawn a lot of queries.

With the revision, the agreement states that the balance of the charter fee shall be paid to the owner on the first working day following completion of the charter period, unless the stakeholder receives written notice of a complaint by or on behalf of the charterer.

“Once such notice of complaint has been received by the Stakeholder, the Stakeholder shall be obliged to retain the balance of the Charter Fee for a period of [14] days,” the agreement now states. “If during such [14] day period the Charterer’s complaint is resolved by agreement with the Owner then the Stakeholder shall pay the balance of the Charter Fee to the Owner (or as otherwise directed in an Arbitration Award).

“If after [14] days neither party shall have appointed an arbitrator then the balance of the Charter Fee shall be paid by the Stakeholder to the Owner on the first working day after the 14 day period referred to above. If either party shall have appointed an arbitrator then the Stakeholder shall retain the balance of the Charter Fee in a designated account until an Arbitration Award has been published or the matter settled by mutual agreement between the parties.”

Speaking exclusively to SuperyachtNews.com, Barbara Dawson, former Chair of the Charter Committee, explains that these changes were discussed at length by the Charter Committee and MYBA counsel, due to the various issues over the years that had been brought to MYBA’s attention. “We had frustration coming from all sides – charterer, owner, broker, and stakeholder – hence this was a way to sort out issues that arose in a fair and timely manner,” she explains.

“There was a need to have a ‘trigger’ in the contract that would clearly outline the procedure to allow all parties to negotiate or move to arbitration. The clause is a fair balance to both parties as it outlines a time period in which to take an action to hopefully a satisfactory outcome for everyone. It allows a valid claim to be reviewed by the parties and, if serious enough, the time needed to start arbitration.  In most instances the grievances can be negotiated by the parties in a quick and timely manner specifically thanks to this clause.”

While these amendments do not diverge far from usual industry practice, the aim of the revised agreement is to qualify and clarify practices further for the charter sector. With this document, MYBA aims to be fair to all parties involved, which can be a challenging balancing act, and as such is already welcoming feedback to put forward for the next version.

Access to the revises MYBA Charter Agreement can be found here .

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A guide to yacht charter

The experience of chartering a yacht comes with a few questions here and there, which is why we have put together a handy introduction below. If you are still uncertain, speak to one of our expert brokers today for further advice on your charter requirements.

Rates & terms

It is an industry standard to give the charter rates based on a week. In most cases, a yacht is offered for a minimum of seven days. However, this can vary depending on the Owner’s policy and the yacht’s calendar. For a short-term charter (less than seven days), there is an extra cost which is calculated by dividing the weekly rate by six to obtain the daily rate, which is then multiplied by the number of charter days. For charter periods of seven days or more, the rate is calculated on a pro-rata based on the weekly rate which is then divided by seven.

Different rates apply depending on peak and off-peak seasons. A high season rate in the summer is quoted for July and August and the same applies for Christmas and New Year’s Eve in the winter. Major events are also priced at a high season rate. All other months are quoted at a low season rate.

Charter agreement (MYBA)

At YPI, we use the MYBA (“Mediterranean Yachts Brokers Association”) charter agreement which is the general contract used at large by the industry and recognised all around the world.

MYBA terms define a charter as a period where the yacht is let to a charterer against the payment of a fee, including the crew and equipment for operating, the yacht and insurance for marine risk, crew employer’s liability and third-party claims. Additional expenses will be at the charterer’s expense and include but are not limited to fuel and lubricating oils for the yacht, her tenders and motorised water toys, local taxes, pilotage, port, harbour and marina dues, customs clearance, water, electricity and personal laundry.

All provisions such as wine, beer, spirits, soft drinks and consumables for the charterer's events are also considered as additional costs as well as telecommunication. Please bear in mind that, occasionally, a yacht may offer different terms than the ones described above. Liaise with your broker to get the full details of any charter terms that vary from standard MYBA Terms.

Payment terms

Once the terms have been agreed and all parties have signed the contract, a deposit of 50% of the charter fee is required to confirm the booking. A month prior to the departure date, the remaining 50%, together with VAT, APA and any additional charges, will be payable.

In case of unforeseen events, it is strongly recommended that the charterer protects their investment by taking out a Cancellation and Curtailment Insurance policy. Guests on board should also take out their own Personal Accident and Medical Insurance, as well as insurance for their personal effects. Our team of charter brokers will endeavour to assist you in attaining the correct coverage for your charter.

If guests are satisfied with the quality of service they have had during your charter, it is customary to reward the crew for their attention, though in their discretion. Crew gratuities approximately represent 10% of the charter fee and can be adjusted up or down according to the level of satisfaction. In order to make sure all crew are equally rewarded from deck to interior and engineering, the distribution of gratuities should be entrusted to the Captain who will make sure that no one is overlooked.

The use of watercrafts might be restricted in certain cruising areas which require an appropriate operating license. The broker will provide the specific guidelines ahead of the charter. The list of equipment provided by the yacht is believed to be correct but cannot be guaranteed, such items being subject to last-minute changes. The owner will do his best to replace any equipment.

We are passionate about matching every client with their perfect yacht and dream itinerary and creating some of the best memories of their lives.

An amount allocated to extra costs for the charter, called Advance Provisioning Allowance (APA), is calculated in the contract, and is based on approximately 25% to 30% of the charter fee. This sum is meant to cover expenses that aren’t included in the charter fee, such as food and beverage, fuel and port fees. At the end of the charter, the accounts must be signed off by the charterer and any expenditure in excess is to be settled. Any credit at the end of the charter will be reimbursed in full.

Local taxes in the European Union apply according to the cruising area and will be mentioned in the contract. Any taxes due depending on your itinerary will be communicated by the charter broker at the time of arranging the cruise.

Internet use and Satellite TV

As a yacht is always moving and crossing into remote areas where network coverage may be limited, Satellite Television and Internet access is not always guaranteed. Standard internet access is available if the client requires large bandwidths. This would be subject to an upgrade resulting in an additional charge.

Tailored experience

To tailor the charter to match the expectations of the guests, the broker will make sure to prepare a complete and detailed list of any special needs and preferences for all parties, including dietary specifics, allergies and medical requirements as well as entertainment wishes.

Due to maritime legislation, it is forbidden to smoke inside a yacht. Some yachts allow smoking in a dedicated deck area.

Cancellation policy

Should the client wish to cancel the charter, the owner might retain the full deposit or the full charter fee depending on the time of cancellation according to the terms of the MYBA contract. To establish an alternative solution, the charterer must liaise with the broker.

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Yacht Charter Contract Types

A comprehensive guide to understanding charter paperwork

Like anything else in life, it is important to have a contract in place to set out any rights, obligations and cancellation policies. The charter contract will include dates and locations of the charter, details of the payment structure and insurance along with warnings of any unacceptable behaviour. Read on for a comprehensive guide into what to expect from your charter contracts.

Although charter paperwork has recently become much more standardised, a charter broker will have plenty of experience with charter contracts and be able to explain any clauses which charterers may find confusing. A charter contract is carefully constructed to protect both the charterer and the yacht owner. Charterers must be aware of maritime rules and regulations and the contract is therefore constructed to ensure the laws of the country to which a yacht is flagged are abided by.

Typically the contracts used are provided by professional organisations with MYBA offering the most commonly used contracts in the industry, particularly for large vessels cruising within the Mediterranean.

Formerly known as Western Mediterranean Terms, MYBA (Worldwide Yachting Association, formerly known as Mediterranean Yacht Brokers Association) terms are often referred to as a "plus all expenses" contract. Under the terms of a MYBA contract the below are typically inclusive of the base charter fee;

• Hire of the yacht including all water toys and equipment (in full working order).
• Wages and food of the crew for the duration of the charter.
• Ship’s laundry.

In addition to the above, expenses such as food and drinks for the guests, fuel (including main engines, tender fuel and jet skis etc.), personal laundry, communication costs and berthing fees will also be applicable.

In order to make the payment structure coherent for guests, the additional expenses for the charter party will often be covered by an Advance Provisioning Allowance (APA) and often equates to approximately 25-30 percent of the base charter fee. For more details on APA and how it is calculated please visit our Understanding Charter Costs page.

Caribbean Terms Inclusive (CTI)

Caribbean Terms Inclusive are also commonly used within the charter industry particularly with small vessels venturing to the Caribbean. Also known as Standard Caribbean Terms, CTI terms are often described as “mostly all-inclusive”. Under the terms of a CTI contract the below are inclusive of the base charter fee;

• Wages and food of crew.
• Food only (3 meals daily) for charter party.
• Fuel for four hours of cruising per day over charter period.

Although some CTI contracts may also include a selection of beverages this may vary, meaning some may include a selection of beverages where others may charge extra for all beverages. Additional fuel costs will also be applicable (including main engines, tender fuel and jet skis etc.) plus berthing fees and communication costs.

Although MYBA and CTI are the most commonly used contract terms, there are others which charterers may come across when booking a yacht charter and this is often dependent on the size of the yacht and where the yacht is travelling to.

Standard Eastern Mediterranean Terms (SEMT)

Although less frequently than the above, SEMT are sometimes still used and offer much the same principles as CTI, however where CTI covers three daily meals, SEMT will only provide breakfast and lunch on the basis that guests are likely to eat ashore most evenings. Under SEMT the base charter fee will include;

• Half board (2 meals daily, breakfast and lunch) for charter party.
• Fuel for four hours of cruising per day over charter period (may vary).
• Harbour and berthing fees.

In addition to the above, the charterer will be required to cover any additional fuel costs, food (evening meal), and beverages for charter party, personal laundry, communication costs and any berthing fees outside the usual cruising area. National and/or local taxes may also be applicable.

Greek Terms (GT)

Under GT the below are included in the base charter fee;

• Hire and insurance of vessel with all equipment in working order.
• Crew wages and crew food.
• Ship's laundry.
• Harbour and berthing fees within Greek waters.

In addition to the below fuel costs will be required plus food and drink for the charter party, berthing fees outside the Greek waters, communications costs and local taxes.

Important considerations

Think Fuel Although some terms are inclusive of fuel for up to four cruising hours per day, it is important to remember that should guests wish to exceed a cruising speed, use jet skis and electricity whilst at anchor, more fuel will be used with the cost applied to the charterer.

Reading the contract It is essential that each charter guest has a full understanding of the charter contract and how they will be affected by it, therefore each guest should take the time to read the contract and familiarise themselves with the content.

Don’t be afraid to speak up Although a charter contract may seem daunting at first, it is there to protect both you and the yacht owner. It is critical that guests speak up should they have any questions regarding the contract or are unsure as to how the payment structure is applied or how costs are calculated. Charter brokers are experts in the field and will be able to explain one contract clause to the next, so don’t be afraid to ask.

Please visit our pages on How to Plan and Book a Yacht Charter and Understanding Charter Costs for more information on booking your private yacht charter.

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All MYBA Members possess a proven track record of professional excellence and they are involved at many levels and in most of the disciplines of the superyacht industry. MYBA is the Association that brings them together, encourages them to work in harmony to ensure that the industry continues to flourish and guides them on the highest ethical and technical standards. MYBA Membership means becoming an active advocate for the superyacht industry: acquiring a seat at the collective table, adding your perspective and having your voice heard.

MYBA is the creator of the industry’s most respected and widely used contract documents, the MYBA Sales & Purchase Agreement (MoA) and the MYBA Charter Agreement, which together with their associated documents are regularly updated as regulations and the global market change.

MYBA is the owner and administrator of YACHTFOLIO, the online tool that changed the way luxury yacht charter professionals do business, and it organises the very successful MYBA Charter Show, one of the most important events of the yachting calendar. MYBA also organises a series of annual seminars for aspiring or new brokers as well as established superyacht professionals who are looking to refresh and build on their knowledge and experience.

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MYBA The Worldwide Yachting Association is an international professional organisation, founded in 1984, with both Corporate and Individual Members. The Association’s mission is to inspire, support and empower people in the superyacht industry to be their best: by maintaining business at the highest level of ethical conduct, committing to equality and diversity, protecting the environment, sharing knowledge and combining strengths, building strong relationships, and continuously developing, both professionally and personally.

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