In this guide
These are the words a charter agency uses in a proposal or a contract, each defined in one or two sentences and linked to the guide that explains it in full. The definitions come from those guides and from the sources they cite: MYBA’s own guidance, the Red Ensign Group’s yacht code, the International Maritime Organization and the large charter houses.
Price and payments
What is the charter fee?
The charter fee is the weekly price you see on a listing: it pays for the yacht with its equipment, the crew’s wages, uniforms and food, the insurance and basic consumables, according to MYBA’s guidance for captains. The running costs of your particular week are paid on top, at cost. More in how much a luxury yacht charter costs.
What is the APA?
The APA (Advance Provisioning Allowance) is money you send before a crewed charter, usually 25-40% of the charter fee, so the captain can pay fuel, food, drink, berths and port fees at cost. The captain accounts for every expense with receipts, and any unspent balance is refunded at the end. More in our APA guide.
What does “plus all expenses” mean?
“Plus all expenses” is the basis of the MYBA terms: the charter fee buys the yacht and its crew, and the running costs of your week (fuel, food, drinks, berths) are paid separately, at cost, from the APA. YachtCharterFleet describes it as the industry standard used by most yacht charters. More in how much a luxury yacht charter costs.
What is CTI (Caribbean Terms Inclusive)?
Caribbean Terms Inclusive (CTI) are more inclusive terms, used mostly by smaller yachts in the Caribbean, where three meals a day and fuel for four hours of cruising a day are built into the price; some drinks may be included. BOAT International puts the extra allowance on all-inclusive charters at around 5% of the charter fee instead of 30-35%. More in Mediterranean vs Caribbean yacht charter.
What are Western Mediterranean Terms (WMT)?
Western Mediterranean Terms (WMT) are the terms the MYBA agreement operates under, according to YachtCharterFleet: the “plus all expenses” basis, where fuel, food and drink, local taxes and berths are paid on top of the charter fee. More in Mediterranean vs Caribbean yacht charter.
What are Standard Eastern Mediterranean Terms (SEMT)?
Standard Eastern Mediterranean Terms (SEMT) are less common terms that, according to YachtCharterFleet, work much like Caribbean Terms Inclusive, but with two meals a day instead of three, because guests are assumed to dine ashore in the evening. More in Mediterranean vs Caribbean yacht charter.
What are Greek Terms?
Greek Terms (GT) are less common terms that YachtCharterFleet describes as similar to the MYBA terms, except that harbour and berthing fees are included as long as the yacht stays in Greek waters. More in Mediterranean vs Caribbean yacht charter.
What is a delivery or repositioning fee?
A delivery or repositioning fee is what you pay when the charter starts or ends away from the yacht’s base or current location: Burgess notes that it covers the fuel and crew costs of moving the yacht there. Choosing a yacht that is already where you want to start avoids it. More in when to book a yacht charter.
The contract and who is who
What is MYBA?
MYBA is an international professional association of yacht brokers and charter professionals, founded in 1984, that publishes the standard charter agreement used across the industry. Its standard terms are reserved for members, which is why the contract normally comes from a broker that is a MYBA member. More in our guide to the MYBA charter agreement.
What is the MYBA Charter Agreement?
The MYBA Charter Agreement is the standard contract for crewed yacht charters: it covers the yacht, crew and insurance, leaves running costs to the charterer at cost, and sets strict rules on cancellation and force majeure. Two versions are in circulation, the 2017 agreement and the terms released in 2025. More in our guide to the MYBA charter agreement.
What are the Special Conditions?
The Special Conditions are the section of a MYBA contract where everything negotiated for your specific charter is written, while the standard terms form the body of the agreement. Under the 2025 terms, something a broker promised you by email only counts if it is written into the contract, usually here. More in our guide to the MYBA charter agreement.
What is a central agent?
The central agent, or charter manager, is the firm that manages the yacht’s charter programme for the owner and approves every contract. A legitimate retail broker can name the yacht’s central agent. More in how to check a yacht charter agency.
What is a retail broker?
The retail broker is the agency that works for you: it prepares the contract, which the central agent must approve, and is your point of contact. More in how to check a yacht charter agency.
What is the stakeholder?
The stakeholder is the party named in a MYBA contract that holds the funds you pay before and during the charter. It is one of the main financial safeguards in the contract, because the owner is not simply paid on signing. More in how to check a yacht charter agency.
What is an option, and what is a first refusal?
MYBA defines an option as the period from when the central agent approves the contract until the date the first payment is due; if signature and payment are not completed by that date, the agreement is null and void and the yacht goes back on the market. A first refusal is a softer hold that the central agent may grant at its discretion while you decide. More in our guide to the MYBA charter agreement.
On board
What is the preference sheet?
The preference sheet is a detailed questionnaire about your group that the charter agency sends a few weeks before the charter. It covers food, drink, allergies, medical needs, celebrations and activities, and goes to the captain and crew so they can provision and plan around you. More in what to expect on a crewed yacht charter.
What is a tender?
The tender is the small boat the yacht carries to take you ashore, driven by a crew member. It also tows the inflatable toys, and it is the toy you will use most. More in our guide to yacht water toys.
Size, guests and safety rules
What is the REG Yacht Code?
The Red Ensign Group (REG) Yacht Code is one of the main safety codes for charter yachts. Its Part A, the updated version of the Large Yacht Code, applies to commercial yachts of 24 metres and over carrying no more than 12 passengers; Part B covers yachts carrying 13 to 36. More in our yacht size comparison.
What is the Passenger Yacht Code (PYC)?
The Passenger Yacht Code was the code for yachts carrying more than 12 guests; Part B of the REG Yacht Code replaced it in 2017, which is why brokers still say “PYC yacht”. It matters because a ship carrying more than 12 passengers is legally a passenger ship, so most charter yachts stop at 12 guests. More in yacht charter for more than 12 guests.
Dates
What is the shoulder season?
In the Mediterranean, the shoulder season is April, May, late September and October, the months Burgess calls the best to avoid the crowds. More in when to book a yacht charter.
Ask with the terms already clear
Tell us your dates, the number of guests and where you would like to start, and a charter specialist will reply with options that show the charter fee, the APA, the VAT and any delivery fee line by line. The charter is contracted with the yacht’s owner through a licensed charter agency, usually under the MYBA contract, with the full price and the VAT clear before you sign or pay anything. Tell us your dates.
