Template Overview: Understanding the key differences between each template

Introduction

In yacht chartering, different contract types are used depending on the duration, nature, and specifics of the agreement between the key parties (Boat Owner, Central Agent, Charter Broker, and Charterer). This outline is not suppose to be an exhaustive outline and should be read in conjunction with the advise given by your own authorised legal representative. 

Key Parties in Each Contract Type

• Boat Owner: Provides the yacht, sets the terms, and ensures compliance with the contract.
• Central Agent (CA): Represents the owner, manages bookings, and ensures the contract aligns with industry standards.
• Charter Broker: Represents the Charterer, helps negotiate terms, and ensures the Charterer gets the best experience.
• Charterer: The client renting the yacht, responsible for abiding by the contract terms. 

Term Charter Contract

Purpose: Used for multi-day or extended yacht charters (e.g., weekly or seasonal charters). 

Key Features:

• Defines the full duration of the charter, pricing, and payment terms.
• Covers crew services, fuel, provisions, and operational costs.
• Typically structured as a "bareboat" (no crew provided) or "crewed" (with captain and crew included) charter.
• Includes clauses for cancellations, liability, and dispute resolution.

Day Charter Contract

Purpose: Designed for short-term charters, usually a single day or a few hours.

Key Features:

• Defines the yacht rental for a specific time frame, typically without overnight stays.
• Outlines payment, inclusions (e.g., crew, fuel, food & drinks), and responsibilities.
• Often includes a security deposit and terms for additional costs like overtime or damages.
• Less complex than a term charter, with a more flexible cancellation policy.

Addendum Contract (Charter Addendum)

Purpose: Used to modify or supplement an existing charter agreement.

Key Features:

• Covers amendments such as date changes, additional services, pricing adjustments, or specific charter conditions.
• Can be used to extend the charter period or adjust cancellation terms.
• Ensures any modifications are legally documented and agreed upon by all parties.

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