What is a MYBA yacht charter contract?

Answer

MYBA refers to the Worldwide Yachting Association, historically associated with the standard MYBA Charter Show and widely used professional charter documentation.

The MYBA form of charter agreement establishes the contractual framework between the relevant parties and deals with matters such as the yacht, charter period, charter fee, payment arrangements, additional expenses, cancellation and other terms.

The precise contract and amendments should always be reviewed for the particular charter.

The importance of understanding the contract is that the headline yacht description or broker’s summary does not replace the contractual terms.

Broker’s advice

A professional charterer should not be expected to interpret a charter contract entirely alone. A good broker should explain the commercial implications in plain English and ensure the client understands the key obligations before signing.