1. Introduction

[8-001] Yacht charter in practice. Commercial superyachts covered by this book are usually built for a very niche market of users who will either own them and charter them out or charter them in for recreational purposes. In both scenarios, the set of rules owners and charterers have to follow for the hire and enjoyment of the yacht will be contained in a contract, typically but inaccurately referred to as a charter agreement1 or a yacht services agreement.2 Under such contract, the owner of the yacht agrees to allow the charterer and its party of family, friends or clients the use of the vessel for recreational purposes for an agreed period of time. This sort of service contract is very common in the commercial shipping world involving tankers, container and bulk carriers and is known as a time charterparty.3 But this is where the similarity between the world of mainstream shipping and pleasure yachting ends. Superyachts are very expensive and sophisticated vessels whose charterers invariably expect luxurious facilities and a first class “hotel” service from the crew. Their hire therefore requires a rather different approach from that needed to run a mainstream shipping business. This different approach is reflected in a number of standard charterparty forms designed especially for the yachting industry and reflecting the different balance between owners and charterers in this specialised sector of the industry.4 Among such contracts, the most commonly used in the London market is the MYBA Charter Agreement (hereafter the “MYBA Charter”), which is the subject of this chapter.