Understanding MYBA Payment Terms: Deposits, Final Payments, Delivery Fees and Security Deposit Explained

Planning a luxury yacht charter? It’s easy to get swept up by images of turquoise bays, champagne on deck, and sunsets at sea. But before you dive in, there’s something crucial to get right: the payment terms.

Many charterers ask:
“When do I need to pay for the yacht?”
“Is VAT included?”
“What is the APA?”

These aren’t minor details. They’re essential parts of a MYBA charter agreement — the gold standard contract used in most professional yacht bookings across Europe and beyond.

Suppose you want to avoid misunderstandings and enjoy your trip stress-free. In that case, this guide will walk you through MYBA’s standard payment structure, explain how VAT works depending on your destination, outline what APA covers, and explain why you might see a Security Deposit or Delivery Fee added to your final invoice.

PLAN YOUR MYBA YACHT CHARTER WITH EXPERT HELP

Overview of MYBA Payment Terms

A standard MYBA yacht charter operates on a two-payment structure, unless an exception is granted. Here’s how it breaks down:

• First Payment (Booking Deposit): 50% of the charter fee, due within 7 days of signing the agreement.
• Second Payment (Final Balance): Remaining 50% + VAT + APA, due 30 days before the charter starts.

In rare cases — typically when a yacht is booked more than 12 months in advance — three separate payments are allowed. However, this requires explicit written approval from the Owner and is not standard practice.

This structure is one of the concrete protections that come from booking through a broker with recognized professional yacht charter memberships such as MYBA and CYBA.

First Payment: Booking Deposit Explained

Once your contract is signed, the first payment — 50% of the total charter fee — is due within 7 calendar days. This serves as a booking confirmation, guaranteeing your selected yacht, dates, and itinerary.

For bookings made at the last minute (say, just a few weeks before departure), this payment may be required immediately, without the 7-day window.

Second Payment: Final Balance Before Departure

The second and final payment is due 30 days before embarkation. It includes:

• The remaining 50% of the charter fee
• Applicable VAT
• The APA (Advanced Provisioning Allowance)
• Any Security Deposit
• Any Delivery Fees, if applicable

This final payment ensures the crew can begin provisioning the yacht — arranging fuel, food, drinks, berthing, and logistics for your trip.

Delivery Fees and When They Apply

Sometimes, a yacht needs to travel to your chosen embarkation point. That’s where delivery fees come in.

For example, if your preferred pick-up location is outside the yacht’s home port, you might be charged for the fuel and time required to get it there. This fee is typically due with the final payment and will be clearly listed on your charter contract and invoice in advance.

Security Deposit Under MYBA Terms

Though not always required, a Security Deposit may be requested depending on the yacht or charter terms.

According to Clause 17 of the MYBA agreement, this deposit is held by the Stakeholder on the Owner’s behalf and can be used to cover:

• Damage to the yacht
• Charterer’s liability for breaches of contract
• Unsettled expenses not covered by APA

If no issues arise, the Security Deposit is refunded without interest on the first working day after your charter ends — or after all accounts are settled, whichever comes later.

Key Points from Clause 20: Charter Fee Payments

Clause 20 outlines the payment flow and responsibilities:

• All payments are transferred to the Stakeholder’s account.
• 50% of the charter fee is transferred to the Owner at the start of the charter.
• The remaining 50% is paid after the charter, unless a formal written complaint is lodged within 14 days.
• In the event of a dispute, funds are held until the arbitration is resolved.

The Stakeholder’s role here is key: they ensure fair handling of funds and compliance with the contract.

What If a Dispute Arises Over Payments?

Disputes aren’t common, but they are planned for. If either party has a grievance (e.g., yacht not delivered as promised), they may initiate arbitration.

Once a written notice is sent, the Stakeholder must retain the balance of the charter fee until the issue is resolved through:

• A mutual written agreement
• An official arbitration award

If no dispute is raised within 14 days, the remaining funds are released to the Owner.

Summary: Planning Your Yacht Charter Budget Under MYBA

Here’s what you should expect to pay — and when — under the standard MYBA contract:

Payment Item	Due
50% of Charter Fee	Upon signing (within 7 days)
50% + VAT + APA	With the final payment
Delivery Fee (if any)	At end of the charter (discretionary)
Security Deposit	With final payment (if required)
Crew Gratuity	At the end of the charter (discretionary)

Always clarify what’s included in your charter and confirm the VAT and APA expectations with your broker.

Conclusion: Enjoying Peace of Mind With MYBA Terms

When booking a yacht under the MYBA charter agreement, knowing the how and when of payments gives you peace of mind. From the two-standard-payment setup to VAT responsibilities to managing expenses through APA, the structure is designed to protect both you and the Owner.

By understanding these terms in advance, you’ll not only avoid surprises — you’ll enjoy a smoother, more relaxing start to your luxury adventure at sea.

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Contact YBH Charter Brokers:

You can contact us by email at ask@yourboatholiday.com or by phone at +39 33436 00997; we are also available on WhatsApp for calls and messages. 

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