Yacht Charter Glossary
MYBA Charter Contract
Also known as: MYBA Agreement · MYBA Standard · MYBA Form
Full explanation
MYBA - the Mediterranean Yacht Brokers Association - publishes the standard form charter agreement that 90%+ of luxury charters in the Mediterranean use.
The MYBA form is the equivalent of an ISDA in finance: a known, predictable, lawyer-tested document that protects both charterer and yacht owner, and that no serious broker would deviate from without explicit reason. What MYBA covers: the base charter fee, the deposit schedule (50% on contract signing, 50% 30 days before embarkation is most common), the APA percentage, the duration, the cruising area, exclusions (e.g. 'no waters east of longitude X'), force majeure, owner's cancellation rights, weather-day mechanics, and the post-charter inventory reconciliation. Why MYBA over a bespoke contract: every UHNW charterer's legal counsel knows MYBA.
Reviewing a non-MYBA contract triples legal review time and costs.
Owners refuse to charter outside MYBA because the form protects their asset under a known liability regime.
The form has been refined for 40 years through real-world disputes - most edge cases are pre-resolved. MYBA vs alternatives: YACOA (Yacht Charter Operators Association) publishes a similar form used in some non-Mediterranean markets.
Caribbean brokers occasionally use the CYBA (Charter Yacht Brokers Association) form.
For Greece in 2026, MYBA is the standard George Yachts uses on every charter - anything else should raise a question.
Why it matters for UHNW charterers
MYBA is the moat between you and a six-figure problem. If something goes wrong - a force majeure cancellation, a mid-charter weather event, an injury aboard - the MYBA form has the answer. Without it, you are in court in a foreign jurisdiction. UHNW charterers should ask one question before any contract signing: 'Is this MYBA-standard?' If the answer is anything but yes, walk.
Worked examples
Standard deposit schedule on a €200,000 charter
Contract signing: 50% (€100,000). 30 days before embarkation: 50% balance + 30% APA = €160,000. Total wired before boarding: €260,000.
Force majeure clause activation
If a government-imposed shutdown or extreme weather event prevents charter, MYBA Clause 19 governs whether the charter is postponed, refunded, or partially refunded. Most 2020 COVID charters were postponed without penalty under this clause.
Frequently asked
About myba charter contract
Is the MYBA contract negotiable?
Some clauses yes - the cancellation schedule, the cruising area, the inclusion or exclusion of specific items. The core liability framework is rarely modified because doing so undermines the protections that make MYBA valuable.
Who drafts the MYBA contract?
The broker drafts using MYBA's published template, populating with the specific yacht, dates, fees, and itinerary. Both charterer and yacht owner (or their representatives) sign.
Do I need a lawyer to review a MYBA contract?
If the charter is over €100,000, a lawyer familiar with MYBA can spot non-standard amendments in under an hour. Below €50,000 most brokers consider it overkill. George Yachts recommends legal review on any charter above €200,000.
What happens if the yacht is double-booked?
MYBA's Clause 6 addresses this: if the yacht is unable to deliver, the owner refunds 100% of deposits and APA, and is liable for the charterer's reasonable costs of finding equivalent alternative chartering - capped per the clause. In practice serious brokers prevent double-booking via the yacht's central calendar.
Is MYBA recognised in Greek courts?
Yes. MYBA contracts are typically governed by English law with arbitration in London, but Greek courts recognise the choice-of-law clause for charter disputes. The form is well-tested across European jurisdictions.
Related terms
Other definitions worth knowing
APA (Advance Provisioning Allowance)
APA is an upfront sum - typically 25–35% of the base charter fee - paid before embarkation to cover the …
Gratuity (Crew Tip)
Gratuity is a separate cash tip paid to the yacht's crew at the end of a successful charter, customarily 5–2…
Charter Fee (Base Fee)
The charter fee is the base weekly rate paid for the use of the yacht and its crew. It excludes APA, VAT, de…
Delivery Fee
A delivery fee is a charge billed when the yacht must travel from its home base to your chosen embarkation p…
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Ready to charter in Greece?
George P. Biniaris and the George Yachts team broker yachts in Greek waters under MYBA-standard contracts. Speak with us directly.