TERMS & CONDITIONS
In order to budget correctly for a charter, it is essential to understand the terms and conditions, under which charter yachts operate. Terms are very much bound to the geographical area where the yacht cruises. The following explanations are a general guideline and we will assist you to fully understand your charter contract.
These may vary from the definitions below. Please refer to the charter agreement for the specific terms of each charter.
WMT - Western Mediterranean Terms according to MYBA terms, Mediterranean Yacht Brokers Association
The Charter Fee includes :
1.Hire and insurance of the vessel with all its equipment in working order
2.Crew wages and crew food
3.Ship’s laundry
The Charterer shall pay in addition to the Charter Fee and at cost, for all other expenses such as:
Fuel costs for the vessel (main engines, generators, tenders, jet skis), food and beverages for the charterer’s party, personal laundry, all communication costs, harbour and berthing fees, customs formalities, water, electricity and national and/or local taxes as applicable.
SEMT (or EMT) – Standard Eastern Mediterranean Terms
The Charter Fee includes :
1.Hire and insurance of the vessel with all its equipment in working order.
2.Crew wages and crew food
3.Ship’s laundry Fuel for four hours cruising per day averaged over the charter period (the arrangement about fuel charges may vary.)
5.Harbour and berthing fees
6.Half board (breakfast and lunch are usually included)
The Charterer shall pay in addition to the Charter Fee and at cost, for all other expenses such as : Additional fuel costs for the vessel (main engines, generators, tenders, jet skis), food (usually dinner) and beverages for the charterer’s party, personal laundry and all communication costs, harbour and berthing fees outside the yacht’s normal cruising area, Corinthian Canal fees where applicable, water, electricity and national and/or local taxes as applicable.
GT – Greek Terms
The Charter Fee includes :
1.Hire and insurance of the vessel with all its equipment in working order.
2.Crew wages and crew food
3.Harbour and berthing fees within Greek waters
4.Ship’s laundry
The Charterer shall pay in addition to the Charter Fee and at cost, for all other expenses such as :
Fuel costs (main engines, generators, tenders, jet skis), food and beverages for the charterer’s party, harbour fees outside Greek waters, Corinthian Canal fees where applicable and port taxes and all communication costs.
SCT or CTI – Standard Caribbean Terms – Caribbean Terms Inclusive The Charter Fee includes :
1. Hire and insurance of the vessel with all its equipment in working order
2. Crew wages and crew food
3. Ship’s laundry Fuel for four hours cruising per day averaged over the charter period (The arrangement about fuel charges sometimes vary.)
5. Food (three meals per day) (food only) for Charterer’s party. Some yachts also include wine and bar.
The Charterer shall pay in addition to the Charter Fee and at cost, for all other expenses such as :
Vintage wines, champagne and soft drinks for the charterer’s party, additional fuel costs for the vessel (main engines, generators, tenders, jet skis), all communication costs, berthing and harbour fees and/or local taxes as applicable.
Taxes:
Most yachts are commercially registered, therefore tax exempt. Some charter rates will be subject to varying rates of VAT within European Community (EC) waters. Local taxes may also occur in certain places outside the EC. Please ask us for the most up to date information for your cruising area and yachts.
Fuel:
Commercial vessels usually qualify for duty free fuel and this differs from country to country. This makes a big difference within your expenses when purchasing fuel.
Preference Form:
Once you have booked your yacht we will ask you to complete a preference sheet to itemise in detail your requirements for provisions, recreational interests, preferred itinerary, and any special requests. We will forward this on to your captain so that preparations can be made accordingly. Commercially registered vessels are allowed to buy tax-free provisioning, if available. We will also put you in touch directly with your captain and crew before your charter so that you may discuss your ideas for itinerary and catering in more detail should you wish to.
APA (Advanced Provisioning Allowance):
- Operational expenses are approximately:
-20-30% of the charter fee under WMT (Western Mediterranean Terms)
-10-15% of the charter fee under EMT (Eastern Mediterranean Terms)
-5% of the charter fee under SCT (Standard Caribbean Terms)
These funds are sent to the yacht prior to your embarkation and used to provision the yacht (food, beverage, etc.), according to all requirements that you have specified in your preference sheets. The Captain will advise you periodically as to the disbursement of the APA. Prior to disembarkation at the end of the Charter Period, the Captain shall present to the Charterer a detailed account of the expenditure, with receipts, which you are welcome to inspect at any time. The Captain shall return to the Charterer any balance outstanding, as the case may be or should the APA balance become insufficient during the cruise, the Charterer shall pay to the Captain a sufficient sum to maintain an adequate balance.
Crew Gratuity
As a general rule, the customary crew gratuity is 5-10% of the charter fee based on service received and at your discretion. The gratuity should be handed to the Captain for distribution to the crewmembers who work extremely hard to make a successful charter.
Delivery Fees
Delivery and redelivery fees may be applied to charters that require the yacht to start or finish a charter away from its homeport.
Terms of Payment:
-First instalment: 50% of the charter fee is due upon signing the contract.
-Second instalment: 50% of the Charter Fee + APA + Delivery/Redelivery Fees, if required + Security Deposit, if required, due one month prior to embarkation.