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Revisions to the MYBA Charter Agreement

12th Mar 2014

The MYBA Charter Committee, headed by Senior Charter Broker at C&NI, Barbara Dawson, is pleased to announce that the revised 2014 version of the MYBA Charter Agreement will shortly be available.

One of the significant steps taken with the 2014 version of the MYBA Charter Agreement is that it has caught up with the modern digital era, whereby hardcopies will be a thing of the past and instead numbered e-contracts will be used from now on and accessible from www.myba-econtract.com.

The most relevant modifications from the 2009 version are summarised as follows: 

  • Improvement on instances of arbitration, whereby the process of appointing arbitrators has been simplified and all parties will be referred to the London Maritime Arbitrators Association (LMAA), applicable at the time when the arbitration takes place.
  • Different treatment of VAT in each EU jurisdiction where the option to either include VAT as chargeable or not, based upon charter location is defined.
  • Further protection for Owners on berthing requests.

The Captain should ensure a signed copy of the relevant Charter Agreement is onboard for each charter booked. Time should be taken to read and understand the terms and conditions of this Agreement, drawing particular attention to any applicable Addenda, and make sure that all accounting and other procedures comply with those terms and conditions. A Captains Guidelines exists, which has also been updated at the same time as the actual Agreement, which now requires a signature from the Captain to acknowledge that it has been read. Due to the importance of the document, the same is currently being scheduled for Retail Brokers and Central Agents.

For more details on all the changes pertinent to the 2014 MYBA Charter Agreement, please do not hesitate to contact the Camper & Nicholsons International Charter Marketing Division.

by Camper Nicholsons

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Changes to the latest charter agreement have been made necessary in line with updated regulation, and to protect the interests of all parties involved in luxury yacht charter