Yacht Charter Costs.
A yacht charter vacation is an experience that many people want to try at least once in their lifetime. It is very natural that some questions may arise in the minds of those who will experience this wonderful holiday kind for the first time. Here we would like to give out a descriptive breakdown of yacht charter costs and extra fees.
When you are about to plan a luxury yacht charter, it is important to know what is included in the cost of booking your charter yacht. Even though a yacht itself has a base charter fee, there may be some additional expenses such as food, drinks and fuel. All these additional costs are shown in terms and conditions within the charter contract.
Base Charter Fee
The base charter fee basically relate to the hire cost of the yacht itself, the crew's meals and wages for the entire duration of charter. The base charter fee may vary from one yacht to another due to number of reasons such as size of the yacht, number of cabins, size of the cabins, on board amenities and the charter season in Turkey. For example, two yachts of the same size may distinct in price and the reason for this can be the difference in on board amenities. A yacht which offers jakuzzi tub on deck or different water toys may have a higher base price compared with a yacht of less amenities of the same size. Or the base of the charter fee will be higher when booked on the busy season comparing to low season in the target destination.
Contracts
Actually the type of your charter contract depends on where in the world you are cruising. There are numerous terms which prescribe how the payment system is determined for the yacht charter vacation. For instance, MYBA (Worldwide Yachting Association, formerly known as Mediterranean Yacht Brokers Association) contract is the most commonly used contract type for charter vacations in Turkey. This contract is often means as, the base charter fee plus all other expenses and requires that the charterer pay for fuel, food, beverages and dockage fees as additional expenses outside of the base charter fee. Generally, one can accumulate an additional 25% to 50% of the base charter fee but not to forget that this is dependent on what is consumed during the charter. In addition to the commonly used MYBA terms there are also less frequently used contracts such as Standard Eastern Mediterranean Terms (SEMT) and Greek Terms (GI).
Advance Provisioning Allowance (commonly referred to as APA)
An APA is a kind of deposit the estimated expense amount of your charter to cover costs such as fuel, food, drinks, some unique demands and dockage fees. The APA is up to approximately 25% to 30% of the base charter fee, but this may vary depending on the client's taste and demands and the percentage may be less or far greater than this estimation.
The APA is paid approximately one month prior to boarding the charter yacht. Once the APA has been paid the captain and crew will have time to prepare and purchase the extra items needed for the charter. All expenditures will be kept in records as expenditure list by the captain so at any point during the vacation guests may request a rundown and keep track of the expenditures. The captain may request an additional fund during the charter in case of exceeding the APA. It is therefore a good idea to keep an additional account with your yacht broker or cash with you as well. You should remember that for instance, food and fuel expenses, are charged at cost without mark up to the charterer and upon disembarking, records can be reviewed by the "head" charterer and Captain with any remaining funds are paid back to the charterer.
Fuel and Dockage Fees
An APA is a kind of deposit the estimated expense amount of your charter to cover costs such as fuel, food, drinks, some unique demands and dockage fees. The APA is up to approximately 25% to 30% of the base charter fee, but this may vary depending on the client's taste and demands and the percentage may be less or far greater than this estimation.
While calculating fuel costs, the fuel consumed when using jet-skis or tenders will also apply to the charterer as well as whilst docked at a marina the generators used in order to produce electricity will also use fuel. Other factors which affects fuel costs is the cruising speed and the distance travelled. Port fees may be different from very little to large amounts and this is dependent again upon the location.
Insuarance
Insurance costs are not included in the bae charter fee or APA. This means that you need to take out the necessary travel insurance as well as Charterers Liability Insurance or Cancellation and Curtailment cover.
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