What is a MYBA charter agreement?

Answer

A MYBA charter agreement is a standard form of yacht charter contract developed for use within the professional yacht charter industry by MYBA, the Worldwide Yachting Association.

It sets out important terms governing the charter, including the charter period, charter fee, payment arrangements, APA, cancellation provisions, responsibilities of the parties and other contractual matters.

The precise terms applicable to a charter depend on the agreement signed for that charter.

Analysis

Understanding the charter contract is important because the headline yacht price does not describe the complete contractual relationship between the charterer, yacht and relevant broker or management parties.

Broker Comment

We explain the key commercial and practical provisions before a client signs. You do not need to become a maritime lawyer, but you should understand the financial commitments, cancellation terms, expenses and your obligations.