In order to budget correctly for a charter, it is essential to understand the terms and conditions, under which charter yachts operate. Terms are very much bound to the geographical area where the yacht cruises. The following explanations are a general guideline and we will assist you to fully understand your charter contract.

These may vary from the definitions below. Please refer to the charter agreement for the specific terms of each charter.

WMT - Western Mediterranean Terms

The Charter Fee includes:

1. Hire and insurance of the vessel with all its equipment in working order
2. Crew wages and crew food
3. Ship's laundry

Fuel costs for the vessel (main engines, generators, tenders, jet skis), food and beverages for the charterer's party, personal laundry, all communication costs, harbour and berthing fees, customs formalities, water, electricity and national and/or local taxes as applicable.

EMT - Eastern Mediterranean Terms

The Charter Fee includes:

1. Hire and insurance of the vessel with all its equipment in working order.
2. Crew wages and crew food
3. Ship's laundry Fuel for four hours cruising per day averaged over the charter period (the arrangement about fuel charges may vary.)
5. Harbour and berthing fees
6. Half board (breakfast and lunch are usually included)

The Charterer shall pay in addition to the Charter Fee and at cost, for all other expenses such as : Additional fuel costs for the vessel (main engines, generators, tenders, jet skis), food (usually dinner) and beverages for the charterer's party, personal laundry and all communication costs, harbour and berthing fees outside the yacht's normal cruising area, Corinthian Canal fees where applicable, water, electricity and national and/or local taxes as applicable.

Taxes:

Most yachts are commercially registered, therefore tax exempt. Some charter rates will be subject to varying rates of VAT within European Community (EC) waters. Local taxes in Montenegro and Croatia also occur according to state law. Please ask us for the most up to date information for your cruising area and yachts.

Fuel:

Commercial vessels usually qualify for duty free fuel and this differs from country to country. This makes a big difference within your expenses when purchasing fuel. In Montenegro you can purchase duty free fuel for all.

Preference Form:

Once you have booked your yacht we will ask you to complete a preference sheet to itemize in detail your requirements for provisions, recreational interests, preferred itinerary, and any special requests. We will forward this on to your captain so that preparations can be made accordingly. Commercially registered vessels are allowed to buy tax-free provisioning, if available. We will also put you in touch directly with your captain and crew before your charter so that you may discuss your ideas for itinerary and catering in more detail should you wish to.

APA (Advanced Provisioning Allowance):

Operational expenses are approximately: -20-30% of the charter fee under WMT (Western Mediterranean Terms)
-10-15% of the charter fee under EMT (Eastern Mediterranean Terms)

These funds are sent to the yacht prior to your embarkation and used to provision the yacht (food, beverage, etc.), according to all requirements that you have specified in your preference sheets. The Captain will advise you periodically as to the disbursement of the APA. Prior to disembarkation at the end of the Charter Period, the Captain shall present to the Charterer a detailed account of the expenditure, with receipts, which you are welcome to inspect at any time. The Captain shall return to the Charterer any balance outstanding, as the case may be or should the APA balance become insufficient during the cruise, the Charterer shall pay to the Captain a sufficient sum to maintain an adequate balance.

Crew Gratuity

As a general rule, the customary crew gratuity is 5-10% 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 who work extremely hard to make a successful charter.

Delivery Fees

Delivery and redelivery fees may be applied to charters that require the yacht to start or finish a charter away from its homeport.

Terms of Payment:

-First installment: 50% of the charter fee is due upon signing the contract.

-Second installment: 50% of the Charter Fee + APA + Delivery/Redelivery Fees, if required + Security Deposit, if required, due one month prior to embarkation.

A Day and Weekend Charter Terms:

All above terms are applicable except terms of payment that must be done at least 48h prior embarkation.

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