myba yacht charter agreement

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• May 24, 2023

YPI CREW, in partnership with Hill Dickinson law firm, have created a free downloadable guide designed to help superyacht Captains and their crew navigate through the complexities of the MYBA Charter Agreement (2017, current terms).

The MYBA Charter Agreement is a legal contract that establishes a binding relationship between the yacht Owner and Charterer as it outlines the key contractual obligations that charter Captains and crew must fulfill on behalf of superyacht Owners.

By understanding the key terms of the Charter Contract, Captains and crew should feel better prepared and more confident facing the busy charter season ahead.

Written by Martin Penny and Francesca Conn , experienced lawyers from Hill Dickinson, the guide draws on their expertise in handling numerous charter disputes representing both Owners and Charterers. By sharing their knowledge and insights, Martin and Francesca aim to help yacht Captains prevent potential issues from escalating into legal claims, ensuring a successful charter season.

The "Charter Contracts for Yacht Captains" guide emphasizes the crucial role that yacht Captains and crew play in upholding the contractual obligations of the Owner and promptly resolving any arising issues. As the charter experience is fundamentally rooted in a legal contract, it is essential for Captains and crew members to familiarize themselves with its key terms to minimize risks and provide an unforgettable luxury experience for superyacht charter guests.

Download 'Charter Contracts for Yacht Captains' Here:

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• What you Need to Know about MYBA and MYBA Contracts
• Charter advice

What is the first thing that comes to mind when you think of a luxury yacht charter? Probably sun, sea, incredible food, fun, and relaxation, right? And you’d be correct (that and so much more)! Terms and contracts don’t really fit in this picture. However, to get to the fun and relaxation, there is a little paperwork that needs to happen.

One of our core values at Otium Yachts is TRUST , so we try to make everything as simple and transparent as possible. We want you to feel confident in us as your broker and fully informed about the process and details so there are no surprises at sea. That is why we decided to write this blog specifically about MYBA contracts, to explain what they are, and why this is our preferred contract to use with clients.

What is MYBA?

The Mediterranean Yacht Brokers Association (MYBA) is a worldwide yachting association that was founded in 1984 by a group of yacht brokers whose goal was to promote the highest standards of professionalism and ethics in the yachting industry and to set a standard for charter agreements.

MYBA created the industry’s most respected and widely used contracts – the MYBA Sales and Purchase Agreement (MoA) and the MYBA Charter Agreement . These documents are regularly updated to ensure they stay in sync with the ever-changing needs of the global yachting market. With these contracts, clients can enjoy the peace of mind that comes from knowing these contracts have been prepared to the highest standard by industry professionals, with the client in mind .

Benefits of MYBA Contracts

1. Professional Industry Standard

The MYBA contract is the result of 40 years of experience from pioneers in the yachting industry. Some owners and agencies have their own charter terms and conditions – therefore, their own contracts. However, we prefer to trust something that has been prepared by industry professionals with decades of experience booking yachts around the world.

MYBA contracts are not available to all brokers . To have access to a MYBA contract you need to be an established and experienced broker with a proven record of professional excellence in the yachting industry. Such brokers invest a lot of time, money, and energy traveling to charter shows, inspecting yachts, and meeting the crews, owners, and Central Agents. So, brokers who have access to MYBA contracts typically only work with Central Agents or Stakeholders that they have personally met or reference-checked with their trusted colleagues. All of this benefits the client.

2. MYBA Contracts can still Work with Gulet Terms

As we mentioned in our last blog (Yacht Charter Terms and Agreements Explained), there are two sets of terms under which yachts usually operate and they are quite contrary (operating terms – the terms under which a yacht operates, and lays out what is, or is not included in the charter rate):

• Western Mediterranean Terms (WMT), also known as “MYBA Terms”

Under WMT (OR MYBA) terms the charter fee includes charter of the yacht and equipment, crew wages and food, ship's laundry , basic operating consumables, and insurance of the yacht for marine risk, third-party claims, and the crew for employer's liability insurance. The charterer will be charged extra  and at a cost to the yacht, for all other expenses. These expenses include food and all beverages for the charter guests, fue l for the yacht and auxiliary craft, dockage , VAT if applicable, taxes , harbor fees , communications , guest laundry , and shore-side electricity and water . 

• Gulet Terms

Generally speaking, larger luxury crewed charter yachts operate under “MYBA terms” , and smaller standard crewed yachts (gulets) operate under “Gulet terms” . As we explained in our previous blog, different terms suit yachts for different reasons. However, regardless of the terms under which a yacht operates, we can (and prefer to) use MYBA contracts. Under Clause 8 of the MYBA contract, it states what is included in the charter rate and what is extra . However, there is a SPECIAL CONDITIONS section where we can state anything that is contrary between certain terms. For example, under SPECIAL CONDITIONS section we can put “contrary to Clause 8) of this Agreement Charter Price Includes: fuel for 4 h of the engine work daily, fuel for the generator 24/7, fuel for tender transfers to/from the yacht, Wi-Fi, VAT...” and other conditions specific to yachts operating according to the Gulet Terms. Hence, we can make adjustments required by certain terms and still use our favorite type of contract.

3. MYBA Contracts Offer the Best Protection for Clients

The MYBA contract clearly defines all terms related to yacht charter; from delivery, crew, and captain’s authority, to cancellation, breakdown, insurance, and the very important Clause 20 regarding payment of the charter fee. Every possible scenario has been covered ; the MYBA contract offers protection to the client like no other contract. Clause 20 is the essence of the MYBA terms and contracts. It states that all funds received by the broker are immediately transferred to a Stakeholder (if the broker is not the Stakeholder) and then held by the Stakeholder in a designated account – safeguarding the client’s money . Fifty percent of the Charter Fee is paid to the owner of the yacht on the first day of the charter . The APA (Advanced Provisioning Allowance) is also paid to the Captain or the owner prior to embarkation . The remaining 50% of the charter fee is not paid to the owner until the first working day following the successful completion of the charter . If there are any complaints or issues raised, the funds are held until there is a resolution between the parties (with or without arbitration). In short, clients can trust that their money is safeguarded .

MYBA Contracts are our Preferred Contract

For all of these reasons, MYBA contracts are our preferred contract . We hope these two blogs (this blog and Yacht Charter Terms Explained ), help clear up this side of chartering a yacht. As always, contact us if you have any questions, and trust that we will handle your inquiry with care and professionalism from beginning to end. Otium Yachts , we are here for you.

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• What is MYBA?

I've been doing some research online about booking a luxury yacht charter and I keep coming across the term MYBA. I have no idea what it stands for or what it means. Please can you explain it?

Editorial Team

MYBA is the Mediterranean Yacht Broker Association that was created in 1984 to bring together the superyacht industry professionals under the highest ethical and technical standards. Renamed MYBA The Worldwide Yachting Association a few years ago, MYBA has had a significant role in the superyacht industry over the past 30 years, in the fields of sales brokerage and charter especially. It works closely with Government Organisations, Coastguards, the International Maritime Organisation, and all actors in the industry to make it better. Both the MYBA Charter Agreement and the MYBA Memorandum of Agreement have been developed over the years and provide an industry standard throughout the world. More details on the association website : www.myba-association.com

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MYBA Genoa Charter Show 2024: Best Yachts On Display

Explore some of the best moments of this year’s myba charter show in italy..

After eight years elsewhere, the MYBA Charter Show returned to Genoa, Italy this April. There were 60 yachts attending across three marinas and the Denison team was out in full force, including Europe Director Jeremy Roche and charter specialists Molly Playfair , Kristina Gagliardi , Ingrid Lammens Pichardie , and Radostina Trifonova . “Despite some unseasonably cold weather the first couple of days,” Molly shared, “we scoured the docks for some of the best yachts on offer for charter worldwide.” Discover our team’s favorite yachts on display at the show.

Radostina’s Top Choice

“My favorite yacht in the show was M/Y PURPOSE , a 55-meter Trinity Yacht, which just finished a 2024 refit,” Radostina shared. “The inspiration behind the name is ‘travel with purpose.’ Available for charter during the various stages of her world tour, her itinerary includes destinations such as the Red Sea , the Mediterranean , Scandinavia, Greenland and Canada, and other locations.” The design onboard is “absolutely beautiful,” with two master cabins and an elegant dining area.

“From a 30-foot waterslide to an inflatable cinema, her selection of water toys is immaculate,” she boasted. This charter yacht features more water toys than you can imagine. And if there’s something you wanted and don’t see? As per the words of the owner: ”If we missed one, tell us!” You won’t be left wanting for long.

Molly’s Pick

“My top pick is CARINTHIA VII , the 97.2-meter,” Molly said. “This famous Lurssen has just been totally refitted and is on the charter market for the first time in her 21-year history.” Talk about exclusivity!

“This immaculate boat is truly vast, and she offers so much to the charterer, including a 12-meter pool, a 90-square-meter gym (they have both a PT and a yoga instructor onboard), and a massive wellness area including a hammam, spa, and beauty salon on the lower deck with a dedicated therapist.”

The yacht also features a long list of water activities, including inflatable water toys, beach games, a flyboard, an inflatable jet ski dock, an inflatable trampoline, a jet ski, kayaks, a kneeboard, a sailing dinghy, Seabobs, a wakeboard, a water bike, water skis, waverunners, and even a water slide–just to name a few. There are even two tenders aboard.

Kristina’s Favorites

Kristina enjoyed the wide variety of charter yachts on display and had two she had to write home about. The first, Golden Yachts’ MALIA , was built in Greece. The owner bought her and all crew have been on since December. This charter yacht had many highlights.

“The chief stew set up the best ‘paint night’ with little easels and paint sets,” she gushed. “There’s a projector screen outside–great for outdoor movies! There is a huge gym that has everything. There’s also a massive Jacuzzi.”

MALIA’s interior features four cabins on the main deck, and eight total. There is one master, two kings, and one twin. There are very high ceilings and beautiful marble floors for a very spacious feel.

“MALIA means ‘God of the sea’ in Hawaiin,” Kristina explained. Another bonus for charter guests? “The boat is baby-proofed–there are no sharp edges! There are even 100-year-old and 70-year-old Bonzai trees.” Some other features Kristina highlighted were the beautiful beach club, couples massages, sauna and steam room, and amazing artwork. “The top shelf 48-foot fishing boat can go deep sea fishing and catch fresh tuna sushi. Simon, the chef, was fantastic,” she shared.

NURI , which means ‘world’ in Korean, is an incredible explorer vessel with a modern spin. “New to market, she has a light, bright, and stunning interior,” Kristina mentioned. NURI can accommodate up to 12 guests. “There is a beautiful full-beam master and two VIP staterooms. There’s a nice mix of materials. Guests can separate the office with a sliding door. There is even a heated floor. The Pullman comes over the top, and can be a twin Pullman.”

Kristina also highlighted that NURI will be in Alaska after the winter. “She is carbon neutral, so she is green. There are preserved flowers. The tablescape is amazing.” With a wide variety of toys onboard, there is also a swim platform for easy access to the water. There are a number of outdoor space options, including a vast sun deck with a Jacuzzi, bar, sun loungers, and a TV. This charter yacht has it all.

Jeremy’s Preference

“My favorite was KING BENJI ,” Jeremy disclosed. “A highly unique interior design finished to an exceptionally high standard. Combined with a brilliantly versatile main deck layout, she is super user-friendly, giving the flexibility of a country kitchen (which US clients love) and the ability to close for more privacy (which usually suits Europeans). I loved it, she is stylish but incredibly comfortable and inviting.”

This charter yacht can accommodate up to 10 guests in 5 cabins, with 10 crew. KING BENJI features a beach club and relaxing Jacuzzi with impressive waterfront views. Her list of water toys is long, but the highlights include jet skis, water skis, Seabobs, wakeboards, kneeboards, and paddleboards. She also houses two tenders for your enjoyment.

Denison is excited to have had such a great experience at the 2024 MYBA Charter Show in Genoa. We look forward to next year!

Interested in chartering one of these or another yacht for your next luxury getaway? Contact a Denison charter broker  for more information.

Speak With a Charter Specialist:

Jeremy roche.

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Molly Playfair

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Radostina Trifonova

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Kristina Gagliardi

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• Cell: 978.609.6724
• Office: 843.576.2355

Ingrid Lammens Pichardie

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MYBA Genoa Charter Show 2024: Best Yachts On Display Explore some of the best moments of this year’s MYBA Charter Show in Italy. After eight years elsewhere, the MYBA Charter Show returned to Genoa, Italy this April. There were 60 yachts attending across three marinas and the Denison team

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All the highlights and insights from the MYBA Charter Show 2024

Against the backdrop of Marina Molo Vecchio in Genoa, Italy, the 34th edition of the MYBA Charter Show , sponsored by BOAT International, returned on 22-25 April 2024. The annual event has earned its status as one of the leading charter shows in the luxury yacht charter industry. Showcasing an array of yachts, it brings together charter professionals from across the globe, offering a platform to showcase some of the most impressive yachts on the charter market and engage with the skilled captains and crews who bring them to life.

As the curtains close on yet another successful show, BOAT looks back on the highlights and insights of this year's MYBA Charter Show.

Show highlights

The 2024 edition emerged as a resounding success, drawing acclaim from industry insiders and participants alike. Judith Estrella, chair of the MYBA Charter Show Panel, described the event as "one of the most successful in our recent history”.

The event showcased 58 yachts ranging from 20 to 100 metres LOA, nine of which boasted an LOA exceeding 60 metres. Amongst the standout vessels, the 97.2-metre, Lürssen -built Carinthia VII was the largest yacht in attendance, represented by Fraser . Also on display was the 85.6-metre, Derecktor -built Aquila , represented by Burgess , the 82.5-metre, Golden Yachts -built Emir , represented by Fraser, the 77.7-metre, Golden Yachts-built Malia , represented by Northrop & Johnson , and the 76.6-metre, Amels -built Boadicea , represented by Yachting Partners International . Alongside the superyachts on display, the Aquarium Quay hosted four tenders.

The show thrived as a bustling hub of networking and collaboration, with 1,030 individuals in attendance, including 570 brokers. On top of that,  573 crew members worked tirelessly to ensure the show's success. The show hosted 69 exhibitors as well as new features this year, such as the Crew Lounge and the Tasting Lounge & Bar. Various events took place throughout the event to further foster relationships, including the Captains' Dinner, sponsored by Pesto Sea Group and Catalano Shipping Services, the Show Opening Cocktail, sponsored by Begum Yachting, which also marked the 40th anniversary of the MYBA association, the Exhibitors’ Party and the much-anticipated Superyacht Chefs' Competition. These were complemented by insightful seminars on yacht charter throughout the show.

The Superyacht Chefs’ Competition

Superyacht chefs showcased their culinary skills at the highly anticipated Superyacht Chefs' Competition during the MYBA Charter Show 2024. Under the theme of 'An Italian Fusion Dinner Party', paying homage to the show's return to Italy, chefs were tasked with blending Italian flavours with those of another country of their choice.

Meanwhile, interior crews engaged in their own contest with the Tablescaping Competition, creating captivating table settings that mirrored the theme of the Italian fusion dinner.

The competition results were a testament to the talent and dedication of the participating chefs and interior crews. In the category of yachts measuring 56 metres and above, Andrew Durham of 73.6-metre Naia claimed the top spot. For yachts of 36-55 metres, Mykhailo Chekan of 40.5-metre Nuri was victorious. In the 35 metres and below category, Nicolo d’Urso of 33-metre South was awarded first place.

The Tablescaping Competition further showcased the ingenuity of interior crews, with winners selected in each size category. For yachts of 56 metres and above, Marine Beaucamps of 63.5-metre Lioness V came out top. Gillian Liszyk of 54.2-metre C claimed the top spot in the 36- to 55-metre category. For yachts below 35 metres, Iryna Shmatko of 28.9-metre Tonic Blue took the crown.

To find out more information about the annual MYBA Charter Show, contact the event’s team today .

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