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CHAPTER 7 Yacht Brokers

Law of Yachts and Yachting

Page 157 CHAPTER 7 Yacht Brokers Yacht Brokers 1. Yacht broker associations and central agency agreements 157 2. The role of brokers 159 3. The authority of the broker 162 4. The ordinary duties of the broker 164 5. The fiduciary duties of the broker 166 6. The broker as stakeholder 169 7. The remuneration of the broker 170 [7-001] Introduction. Yacht brokers provide a range of services for their clients, from acting in relation to one particular transaction, for example a sale or a charter, or providing a full portfolio of services including the commercial and technical management of a yacht. 1 As with many other aspects of the yachting industry, the scale of the transactions can also vary enormously, from the sale or purchase of a small motor boat or yacht to the commissioning, construction, crewing and operation of a megayacht.

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