If you’re considering renting a yacht for a holiday, it’s essential to understand the rental terms, conditions, and rules to avoid any confusion or potential issues. This article outlines everything you need to know about yacht rental terms, from the requirements to payments and termination.
Yacht Charter Terms
When renting a yacht, the client agrees to rent the yacht from the lessor (charter company) during the period, time, and in the region specified in the agreement. The yacht should be delivered in a clean, ready-to-use condition with full fuel tanks. The lessor will provide a transfer protocol, which the client must sign before taking responsibility for the use of the yacht.
If the lessor cannot provide the client with the agreed-upon yacht due to an accident or damage during a previous trip, they are obliged to provide a yacht equivalent in its parameters and characteristics, with possible claims from the client in case of deficiencies in the replacement yacht.
Clients must follow the basics of good maritime practice and have sufficient sailing experience. They must also comply with the laws of the country in which they are located and inform the port head about the yacht’s arrival and departure. Clients cannot use the yacht for commercial purposes or transfer it to third parties without the lessor’s written permission, among other restrictions.
Clients are required to pay an insurance security deposit using a Visa Card or Master Card, which acts as a deductible and is refundable if an insured event does not occur. However, insurance does not cover compensation for losses caused by the client’s fault during the charter.
Operating costs, such as fuel, water sports equipment, food and beverages, communication services, and port fees, are not included in the rental price and are paid by the client.
Yacht Booking and Payments
The yacht booking is considered complete after the client and the lessor sign the agreement, and the client transfers an advance payment of 50% of the rental price. Six weeks before the charter’s start, the client must transfer the remaining 50% of the rental price.
Termination of the Yacht Charter
If the client terminates the agreement, the lessor reserves the right to withhold a penalty amount of 50% of the rental price. The penalty amount depends on the notice of termination received from the client. The lessor will refund the money paid by the client, with a deduction of at least 20% of the prepayment amount if they make a re-booking on the same terms.
Renting a yacht is a fantastic way to explore the beautiful waters of the world. However, it’s crucial to understand the yacht rental terms to ensure a hassle-free and enjoyable experience. Familiarize yourself with the terms and conditions before signing any agreement to avoid potential misunderstandings or problems.