What is a MYBA charter agreement?
The MYBA Charter Agreement is the standard contract used for most crewed yacht charters worldwide, drafted by the Mediterranean Yacht Brokers Association. It sets out the charter fee, the payment schedule, the Advance Provisioning Allowance, cancellation terms and each party's liability, giving both guest and yacht owner a consistent, well-tested legal framework.
Key facts
- MYBA stands for the Mediterranean Yacht Brokers Association, which first published the standard agreement in 1993.
- It is the de facto industry-standard contract for crewed charters in the Mediterranean, Caribbean and beyond — not only for MYBA members.
- Payment is typically split 50% deposit on signing and 50% around four weeks before departure.
- The charterer signs directly with the yacht's owner or management company; your broker arranges, checks and explains it but is not a party to it.
What the agreement actually sets out
The MYBA agreement is a standard-form contract that fixes the essential terms of the charter: the yacht, the dates, the charter fee, the cruising area, the Advance Provisioning Allowance (APA) percentage, and the cancellation schedule. Because almost every serious charter yacht and broker uses the same template, the terms are well understood on both sides and rarely need renegotiating from scratch.
It also defines liability and insurance responsibilities — who covers what if the yacht is damaged — and the process for handling disputes. Amendments are made through numbered addenda (riders) attached to the main agreement rather than by rewriting the contract itself.
The payment schedule
Charters are typically booked with a deposit of 50% of the charter fee on signing, with the remaining 50% due around four weeks before the charter starts. The APA — usually 25–35% of the charter fee — is paid separately, directly to the captain, shortly before boarding.
If you cancel, the agreement's cancellation schedule determines how much of your deposit is refundable, tightening the closer you get to the start date — one reason many charterers take out charter cancellation insurance.
Why brokers use it rather than a bespoke contract
Because the MYBA agreement is standardised and well tested, both the broker representing you and the one representing the yacht already know exactly what each clause means. That speeds up booking and reduces room for misunderstanding compared with a custom contract drafted from scratch.
Your broker's role is to explain any clause you're unsure about and negotiate specific addenda on your behalf — extra guests, a different cruising area, bespoke cancellation terms — before you sign.
Common questions
Do I sign the MYBA agreement myself?
Yes — the charterer signs the agreement directly with the yacht's owner or management company, though your broker prepares it, checks the details and explains every clause before you commit.
Is the MYBA agreement used outside the Mediterranean?
Yes. Despite its name, the MYBA agreement is the de facto standard contract for crewed charters worldwide, including the Caribbean and Bahamas, alongside the similar CYBA agreement common in the US.
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