What
is Yacht Chartering
Technically, yacht chartering is the act of one party renting
a yacht from another party. In a more figurative sense it
is the revelation of a world of enjoyment, of the beauty
of nature, of the splendor of tropical islands, of the allure
of cosmopolitan ports. Chartering is your private access
to a place of turquoise waters, balmy breezes, golden sunlight
and cobalt skies. Chartering gives you priceless days of
pristine beaches, refreshingly clean waters and brilliant
coral reefs. Chartering is epitome of fine foods, exquisite
surroundings and personal service. Chartering is your private
entrée into a lifestyle previously the exclusive realm of
wealthy yacht owners and privileged world travelers.
Types
of Charters
There are three main classifications of charter yachts;
fully crewed private yachts, superyachts and bareboats.
Each classification offers a choice of sailing or motor
yachts. While there are obvious major differences between
each type of charter there are certain common elements between
each. At Meridian we work with each client individually
to arrange exactly the type of charter he or she may want.
We have clients that happily charter a bareboats, crewed
yachts or superyachts depending on what their desires are
at a particular time.
Fully
Crewed Private Yacht Charters
The fully crewed private yachts available for charter
through Meridian Yacht Charters represent some of the
finest examples of sailing and motor yachts in the world.
The crews who operate these yachts are professionally
licensed, highly trained, and experienced in safety, seamanship,
and in the total care of their charges. The yachts are
all privately owned and range in size from 42ft/13m to
330ft/100m. A full-time professional crew numbering between
2 and 30 crewmembers operates each yacht. The yachts are
not available for public viewing and do not market for
direct charter bookings. The yachts are booked for charter
through specialized yacht charter brokers such as Meridian
Yacht Charters. Fully crewed private yachts offer private
vacations with customized personal attention to each charter
guest. Each charter is built around a personal itinerary
to islands and anchorages suited to you. A high level
of personal service, discretion and security characterizes
private yacht charters. A chef dedicated solely to pleasing
you prepares customized menus. Each yacht comes with a
selection of entertainment media, recreational and watersports
equipment. Skilled crewmembers provide personal aid and
instruction. Private crewed yachts 100ft/30m and larger
are categorized under Superyachts The yacht and crew's
commitment to quality, service and attention to your needs
remains constant regardless of the size of yacht you book.
Superyacht
Charters
All the features that make a private crewed yacht holiday
special are taken to the highest levels imaginable when
chartering a Superyacht. Unsurpassed luxury and appointments
characterize these majestic yachts. They boast larger
crews, greater service and amenities, more entertainment
and recreational equipment, and plus features only size
and extraordinary capital expenditure can offer. Superyachts
offer the ultimate in luxury private holidays and executive
level corporate entertaining. Recent increases in the
building of Superyachts have produced more opportunity
for sophisticated travelers to enjoy what was once the
exclusive domain of industry magnates, celebrities and
royalty.
Bareboat
Charters
A bareboat charter offers the charter guest the opportunity
to enjoy the adventure of a hands-on approach to the entire
cruise. Bareboats are normally standardized stock production
boats built for bareboat charter. Bareboat companies manage
and operate a fleet of "lease-back" boats for individual
owners. Bareboat companies are based in a variety of locations
worldwide. The companies make sure each yacht is maintained
and fully equipped for cruising. The company will provide
pre-charter boat orientations and chart briefings. On
a bareboat charter the charter guest is responsible for
all aspects of running the yacht, sailing, navigating,
anchoring, provisioning, cooking, cleaning and having
fun. Optional skipper/guides and cooks can be hired (not
to be mistaken for a private crewed yacht). Bareboats
can be booked directly from bareboats companies or, for
the same price, you can enlist the services of Meridian
Yacht Charters to give independent objective advice and
assistance in booking your bareboat vacation.
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Where
Charter Yachts Operate
A crewed yacht charter or a bareboat vacation can be arranged
in many interesting locations around the world. The main
areas are the Caribbean islands and the Mediterranean Sea.
Here you will find the largest selection of yachts and a
diversity of cruising areas. Other popular areas include
Florida and the Bahamas, New England, Alaska and the Pacific
Northwest, the South Pacific and Polynesia, Australia and
New Zealand, Thailand and Southeast Asia, the Seychelles,
the Maldives, the Galapagos, the Baltic and Northern Europe.
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Planning
Your Charter
The planning process for your charter will help ensure that
you achieve the best possible result and actually extends
your enjoyment over a greater timeframe. Research increases
your awareness of the multitude of pleasurable choices that
await you, stimulating a level of anticipation and savoring
that begins long before the charter and extends the pleasure
over weeks and months. For best results when planning your
charter allow the practical aspects of research to blend
with the romantic daydreaming.
The
first two important steps in planning a charter -
- put
together the ideas of what you are looking for, at least
in general terms, and then
- call
your Meridian Yacht Charters personal charter broker
to discuss the possibilities.
Ideas
of what you are looking for
Be true to yourself - Articulate your dreams in a realistic
perspective.
Items to take into account:
How
many people
Type of yacht, sail or power
Cabin requirements
Make up of your party; i.e. couples, family, singles,
children
What are you interested in doing or seeing
What is your budget
What time of the year you would like to charter
How long a period
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Where
to Start
Information in this charter guide and throughout our website
will help you learn more about each of these fundamental
items. You do not need to become an expert or know everything
in detail. You just need a basic outline of what you are
looking for. When you are ready we will discuss each aspect
in as much detail as you require.
Speak
with your personal charter yacht broker at Meridian Yacht
Charters. In addition to the above you need to let us
know as much as possible about your specific desires and
your more general dreams.
Do
you like seclusion and privacy?
Do you enjoy nightlife?
Are watersports your main interest?
Let us know the ambience of the yacht you desire, the
personality you would wish for in the crew.
We
know the yachts, their equipment, the crews and how each
of these elements fits in with your plans. After our initial
discussions we will prepare a personal portfolio of yachts
and crews best suited to your needs. Following up, we
will spend as much time as necessary discussing each yacht
until we find the best one for you.
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Booking
Your Yacht
When you have selected your yacht, dates and ports of embarkation
and disembarkation we will secure the arrangements with
the charter agreement and booking deposit. We will prepare
and send you the charter agreement (contract). Upon signing
the agreement a deposit (normally 50% of the charter rate)
is due. The agreement is then signed by the owner and a
copy is returned to you for your keeping. The signed agreement
plus the booking deposit will confirm your booking.
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The
Charter Agreement
Most crewed charter yachts use a charter agreement sponsored
by MYBA (Mediterranean Yacht Brokers Association) and adopted
by CYBA (Charter Yacht Brokers Association) and AYCA (American
Yacht Charter Association). The agreement specifies the
particulars of the charter, payment schedules, cancellation
policies and defines the rights and obligations of all parties
in contingencies. Although the charter agreement might seem
daunting at first, it is relatively simple especially considering
you are taking charge of someone's multi-million dollar
investment. Make sure with your broker that you understand
the terms and provisions of the charter agreement.
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Rates
Rates for charter yachts may vary according to the season,
the number of charter guests, and the region in which the
yacht is operating. Items that are included in the charter
rate and items that are additional expenses and fees vary
according to the terms under which the yacht operates. The
charter agreement clearly defines the terms and the charter
rate. Please note that rates in this web site are subject
to change without notice until the booking is confirmed.
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Fees
and Expenses
Understanding
Fees and Expenses - It is important from the outset
to understand the terms and conditions under which charter
yachts operate as well as what additional fees and expenses
may be incurred on your charter. This will allow you to
have a realistic assessment of your budget needs and to
compare value when researching your vacation options.
If there are any items you do not understand please ask
us for clarification.
Operating Expenses - Crewed
charter yachts include different items in their rate depending
on their type, size and the cruising area. The operating
expenses (food, fuel, etc.) included or not included are
determined by the operating "terms" under which a yacht
is chartered. Following is a simple explanation of the
common terms. The operating terms for most yachts fall
into two general categories; "plus all expenses" (MYBA
terms) and "inclusive" (CTI). For yachts operating under
inclusive terms the meals and many operating expenses
are included. Beverages are often not included but may
be for some yachts, especially in the Virgin Islands.
For yachts operating under plus all expenses terms a general
rule for estimating expenses is to add 20% to 35% of the
base charter rate. Motor yacht expenses are generally
greater than those for sailing yachts.
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Operating
Terms - The "terms" under which a yacht operates set
forth what items are or are not included in the charter
rate.
MYBA
terms or WMT (Western Mediterranean Terms) - WMT are
now often referred to as "MYBA terms" (Mediterranean
Yacht Brokers Association). Under 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 cost to
the yacht, for all other expenses. These expenses include
food and all beverages for the charter guests, fuel
for the yacht and auxiliary craft, dockage, VAT if applicable,
taxes, harbor fees, communications, guest laundry and
shore-side electricity and water.
Most
Superyachts and larger luxury crewed charter yachts
operate under MYBA terms at all times and in any region.
Yachts of all sizes chartering outside of the Caribbean,
especially in the Mediterranean, will usually operate
on a MYBA terms basis.
CTI
(Caribbean Terms Inclusive) - For yachts operating under
CTI, sometimes referred to as SCT (Standard Caribbean
Terms), the charter fee includes all items on the MYBA
terms plus three meals per day and fuel for four hours'
cruising daily averaged over the charter. Some yachts
operating under Caribbean Terms include all beverages
except vintage wines and champagnes. This occurs mainly
in the Virgin Islands.
With
the exception of most Superyachts and larger crewed
charter yachts, most crewed charter yachts in the Caribbean
operate under CTI.
EMT
(Eastern Mediterranean Terms) - The charter fee includes
charter of the yacht and equipment, crew wages and food,
ship's laundry, basic operating consumables, fuel for
four hours' cruising daily averaged over the charter,
breakfast and lunch, 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 cost to the
yacht, for all other expenses. These expenses include
dinners if taken aboard and all beverages for the charter
guests, fuel for the yacht and auxiliary craft, dockage,
VAT if applicable, taxes, harbor fees, communications,
guest laundry and shore-side electricity and water.
GT
(Greek Terms) - The charter fee includes charter of
the yacht and equipment, crew wages and food, ship's
laundry, basic operating consumables, water, harbor
dues within Greek waters, 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 cost to the yacht, for all other
expenses. These expenses include food and all beverages
for the charter guests, fuel for the yacht and auxiliary
craft, dockage, VAT if applicable, taxes, communications,
guest laundry and shore-side electricity.
Occasionally
there are differences between what some yachts may include
or exclude. If you are not sure what is included in the
charter fee, please say so and we will clarify the issue.
Please
remember that all charters booked will be confirmed by
a charter agreement signed by both the charterer and the
owner. It is this agreement that stipulates the terms.
Please ask us if you have questions. Be assured that we
do not book yachts that do not operate under industry-recognized
terms or that do not operate within the standards set
forth by CYBA, MYBA and AYCA.
The
Reasoning for "plus all expenses" Explained
When exploring luxury yacht charters for the first time
one often hears the charter rate referred to as "plus
all expenses". At first glance the fact that almost every
item a guest will consume is an extra cost may raise an
eyebrow. However, plus all expense terms are common on
the larger yachts and serve to ensure that every item
of your holiday is crafted to your specifications and
delivered at a good value. Food and beverage provisions
are custom ordered according to your direction. You select
the expense level. Fuel is charged on consumption. You
pay for what you use. You are free to be as extravagant
as you choose. After all it is your holiday and you live
it according to your budget and tastes, not someone else's.
Also remember, expenses are charged to you at cost to
the yacht. There is no markup. When you think about it,
plus all expenses is an excellent system for a luxury
yachting vacation.
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Advance
Provisioning Allowance (APA) - When chartering a yacht
under plus all expenses terms an Advance Provisioning
Allowance of 20%-25% of the charter fee is sent to the
yacht ahead of time. These funds are used to provision
the yacht according to your preferences. The Captain will
advise you periodically as to the disbursement of the
APA. Prior to disembarkation at the end of the charter,
the Captain shall present a detailed account of expenditure.
The Captain shall return any unused funds in cash. Should
the APA balance become insufficient during the cruise,
you will be expected to pay to the Captain in cash a sufficient
sum to maintain an adequate balance.
Taxes
and Harbor Fees - Most countries and island nations
impose some type of cruising tax or harbor fees on charter
yachts. These expenses are for the account of the charter
guest but are usually only a small item in the charter
budget. An exception would be the VAT imposed by European
Union nations. VAT can vary between 16% and 20% of the
charter fee. Not all yachts are subject to VAT. Specifics
of VAT will be discussed directly with you in situations
where it might be applicable.
Gratuities
- Customary crew gratuity is 10%-20% 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.
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Payment
Schedules
Normally a 50% payment of the charter fee is due with the
charter agreement to confirm the booking. Final payment
and any other monies due for provisioning or other items
is due in advance of the charter.
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Cancellation
Policies
Depending on the type of yacht booked, cancellation by the
charterer can result in loss of deposit or loss of entire
charter fee. In the event of cancellation by the owner substantial
protection for the charterer is incorporated into the charter
agreement for refund and penalty payments to the charterer.
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Insurance
Trip cancellation insurance is available to cover the loss
of the charter fee if the charter is cancelled or curtailed
for valid reasons. It is recommended that you consider the
merits of cancellation insurance at the time of booking
your yacht. Certain benefits may only apply if insurance
is purchased at the time of booking.
Liability,
personal accident, medical and personal effects insurance
specific to the charter guest is generally not covered in
the owners charter insurance. Please seek the advice of
your insurance professional. Meridian can arrange coverage
through specialized industry recognized companies.
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