Once that you have a clear idea of your charter, the contract is the next step.
Even for a day charter it is a legal requirement to have a contract on board. For day charters we use the contracts that have been created by the ACI. Every charter contract has to disclose the net price, the VAT and the specifications of the yacht, including the maximum amount of guests on board and also the charter conditions. We provide the contract with the first payment request.
For multiple day charters we use the MYBA e-contract. The MYBA e-contract is a charter contract drafted by the Worldwide Yachting Association, formally know as Mediterranean Yacht Brokers Association and it is the most commonly used contract in the industry, particularly for large vessels. It’s purpose is to safeguard the interests of all parties involved in a charter. It covers all the details, ranging from payments and captain’s authority to force majeure and disablement, which can make a world of difference to your charter vacation. MYBA terms is best understood as a “plus all expenses” contract. The contract allows an “À la carte” approach to all services. Basic charter fee includes: the yacht and all its equipment from spa to water toys to entertainment systems, the crews wages and their food, the ship’s laundry, operating consumables, insurance coverage for the yacht and crew. Other expenses that will be charged to the charterers APA account at the cost paid with no markups: food and beverages for the charter guests, fuel for the yacht and tenders, fees, communications, guest laundry, dockage, shore-side electricity. MYBA terms have proven to be fair to both the charterer and the yacht so most charter yachts operate on MYBA terms worldwide. Dream Boats Charter is an authorized user of the MYBA E-Contract. Thanks to the serial number and the date on a contract, you will be able to verify whether or not a contract you have been presented is a valid MYBA E-Contract or not.
All of these choices and decisions lead down to the bottom line: How much does a charter actually cost? The overall price varies with fuel consumption (staying in port or cruising), location (how much tax will you be charged), the number of people you are traveling with, food and drink, as well as activities. Ibiza based super yacht Admiral Tecnomar 44 Villa Sur Mare, sleeps 12 guests in 7 cabins, with a berth already included in the weekly rate and a crew of nine and a huge tender and toy garage will cost 140.000Euros plus 21% Spanish VAT and 30% APA per week. Adding in food and drink, fuel, and other fees; and tips will tack roughly 30 to 50 percent of the charter rate to your trip. Smaller yachts sleeping 6 guests such as our Fairline Phantom 48 M/Y Up and Down are available from around 17.000 Euros plus 21% VAT and 30%APA.
As you can see, pricing varies quite a bit on size of yacht, number of crew, and the yacht’s location.
Back to the tip, how exactly does one do that on a yacht? Since it’s not like in a restaurant with a waiter coming to your table and delivering your check, prompting you to pay and tip, standard procedure on yachts is to leave the gratuity with the captain at the end of your stay so he or she may divvy among the various crew members you may or may not have seen, based on their duties.
MYBA suggests five to 15 percent as customary. And, of course, whatever you feel is reasonable.
And that’s all there is to it. Ready to climb on board?