The yacht charter and brokerage glossary
12 terms buyers and operators use, each defined in plain words.
- MYBA
- MYBA, The Worldwide Yachting Association, publishes the standard charter agreement used for most crewed yacht charters in the Mediterranean. It sets payment terms, cancellation and what the charter fee covers.
- APA
- Advance Provisioning Allowance: money paid on top of the charter fee to cover running costs such as fuel, food, drinks and berthing. The captain accounts for it at the end of the charter and any unspent balance is returned.
- LOA
- Length overall: the full length of a yacht from bow to stern. It is the size quoted in listings and is often what marinas charge on.
- Crewed charter
- A charter where the yacht comes with a professional captain and crew who run the boat and look after the guests.
- Bareboat
- A charter without crew, where the client or their own skipper sails the yacht. Charter companies ask for proof of qualifications and experience before handing over the boat.
- Charter week
- The standard unit for booking a yacht charter, usually seven nights. Many charter bases work to fixed changeover days.
- Delivery and redelivery fees
- Fees charged when a charter starts or ends away from the yacht's base port. They cover the time, crew and fuel needed to move the yacht there and back.
- VAT on charter
- Value added tax charged on the charter fee, usually set by the country where the charter starts and the waters it covers. Rates and rules differ by country, so a quote should say whether VAT is included.
- Berth
- A yacht's space in a marina or harbour, rented by the night, the season or the year.
- Tender
- The small boat a yacht carries or tows to take guests ashore, to beaches and to restaurants.
- Flag state
- The country a yacht is registered in. Its rules cover safety, crewing and whether the yacht may be chartered commercially.
- Central agent
- The broker an owner appoints to manage a yacht's charter calendar, contracts and marketing. Other brokers book the yacht for their clients through the central agent.
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