What happens if I spend less than my APA?

Answer

If actual authorised charter expenses are lower than the APA advance, the balance is generally returned to the charterer following the final reconciliation, subject to the terms of the charter agreement.

Analysis

APA is an advance against actual expenses rather than automatically a fixed charge. The crew normally retain receipts and expenditure records so the final amount can be reconciled at the end of the charter.

Broker comment

Ask for the final reconciliation before departure or shortly afterwards, depending on the yacht's procedures and the charter agreement.