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FREQUENTLY ASKED QUESTIONS
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CHARTER BROKERS are like yachting travel agents and have well-established relationships with companies, yacht crew, and inside industry information. Not only are they up-to-date with the industry rules and regulations, and destinations but they are well equipped to find the right yacht and crew for you. Brokers attend yacht shows to meet the crew and personally visit the yachts on your behalf. Charter brokers are your support team. They represent you!
BUYING BROKERS represent you and will help you to find the right vessel for your yachting lifestyle. They will also advise you on fair prices, expected running costs, and help you with negotiations with the seller. If required, we will also connect you with advisors to source your crew and management company.
Our services are of no additional cost to you.
Depending on where you are in the world will determine the type of charter contract that you have. A common charter contract used for larger yachts and predominantly in Western Mediterranean is a “MYBA “contract which stipulates the fuel, food, beverages, and dockage fees as an additional expense outside of the base charter fee. This is managed through an APA (Advanced Provisioning Allowance). See below for more on that.
For smaller yachts in the Caribbean, it is not uncommon to be issued a Standard Caribbean Terms (SCT) contract which is a different agreement than used in the Western Mediterranean. This could include three meals a day in addition to 4 hours of cruising per day which is included in the base charter fee.
The APA is a percentage of the value of the charter which is set aside for additional costs that would incur during your stay on board. Berthing fees, restaurant deposits, fuel and provisions are example of some of these costs. This is required for every charter regardless of the type of contract or destination.
This amount is usually 30%-40% of the value of the charter which is held in an account and managed by the Captain. The expenditure can be tracked by the charterer directly with the Captain during their trip.