MagazinYacht Broker Associations

MYBA The Mediterranean Yacht Broker Association

The world of luxury yachting is one of opulence, adventure, and unparalleled experiences. From cruising the crystal-clear waters of the Mediterranean to exploring remote island destinations, a luxury yacht charter offers the perfect blend of relaxation and excitement. However, behind the scenes of this glamorous industry, there is a need for professionalism, ethics, and standardized agreements to ensure a seamless and enjoyable experience for clients. This is where the MYBA Yachting Association comes into play.

Introducing MYBA: The Worldwide Yachting Association

Founded in 1984 by a group of esteemed yacht brokers, the Mediterranean Yacht Brokers Association, or MYBA, has evolved into a global professional trade association. MYBA’s mission is to promote the highest standards of professionalism and ethics in the yachting industry and to set the benchmark for charter agreements. With a focus on maintaining business at the highest level of ethical conduct, MYBA is committed to inspiring, supporting, and empowering individuals in the superyacht industry to be their best.

The MYBA Membership: A Network of Excellence

MYBA membership is composed of over 70 major brokerage companies, each with a proven track record of professional excellence in the yachting industry. These companies have branch offices in key locations around the world, including France, Monaco, Spain, Italy, Great Britain, Germany, Switzerland, Hong Kong, and the US. With their collective expertise spanning several centuries, MYBA members cover all aspects of the superyacht industry, including sales, purchase, charter, management, new construction, project consultancy, crew recruitment, safety, and manning.

The MYBA Contracts: Industry Standards for Charter Agreements

One of the key contributions of MYBA to the yachting industry is the creation of the industry’s most respected and widely used contracts. These contracts, known as the MYBA Sales and Purchase Agreement (MoA) and the MYBA Charter Agreement, have become the industry standard for charter agreements. Regularly updated to remain in sync with the evolving needs of the global yachting market, these contracts offer peace of mind to clients, knowing that they have been prepared to the highest standards by industry professionals.

Benefits of MYBA Contracts

  1. Professional Industry Standard: The MYBA contract is the result of 40 years of experience from pioneers in the yachting industry. Unlike contracts created by individual owners or agencies, the MYBA contract has been prepared by industry professionals with decades of experience in booking yachts worldwide. Access to MYBA contracts is limited to established and experienced brokers who have proven their professional excellence in the yachting industry. This ensures that clients are working with reputable brokers who have invested time, money, and energy in understanding the industry and building trusted relationships.

  2. Compatibility with Various Operating Terms: Yachts operate under different terms, such as Western Mediterranean Terms (WMT) or “MYBA Terms,” and Gulet Terms. Regardless of the operating terms, MYBA contracts can be adapted to accommodate specific conditions or arrangements. For example, under the MYBA contract’s Special Conditions section, adjustments can be made to align with specific terms, ensuring a seamless integration of different contractual requirements.

  3. Unparalleled Client Protection: The MYBA contract provides comprehensive protection for clients, covering all aspects of the charter experience. From delivery and crew arrangements to cancellation policies and breakdowns, the MYBA contract leaves no stone unturned. One crucial aspect of the MYBA contract is Clause 20, which outlines the payment of the charter fee. This clause ensures that all funds received by the broker are immediately transferred to a Stakeholder, safeguarding the client’s money. Payments to the yacht owner and other parties involved are made following the successful completion of the charter, ensuring that clients’ funds are protected until any possible issues or disputes are resolved.

MYBA: Leading the Way in Yachting Excellence

MYBA’s commitment to setting the highest standards of professional expertise in international yacht commerce is unwavering. The association plays a vital role in bringing industry professionals together, encouraging collaboration and harmonious working relationships. MYBA’s influence extends beyond contract standards, as the association owns and administers YACHTFOLIO, an online tool that revolutionized the way luxury yacht charter professionals conduct business. Additionally, MYBA organizes the highly acclaimed MYBA Charter Show, a significant event in the yachting industry’s B2B calendar.

Connecting with MYBA Professionals

Within the MYBA network, there are numerous experts and professionals dedicated to ensuring the smooth operation and growth of the superyacht industry. One such individual is Russell Stockil, a member of MYBA’s Yacht Management Committee. With his extensive experience as a qualified Captain, Marine Surveyor, and member of the Nautical Institute, Russell brings a wealth of knowledge and expertise to the table. His role within YACHTZOO involves overseeing yacht management services, ensuring compliance, quality assurance, risk management, analytics, and training.

Russell Stockil on Effective Yacht Management

According to Russell, effective yacht management requires a multi-disciplinary skill set and a commitment to providing continuity throughout the yacht’s lifecycle. From shipyard to operational status, yacht managers must track and record relevant historical data for each component of the operation. This includes understanding various aspects such as banking, insurance, VAT and fiscal implications, employment and HR processes, safety and Flag State compliance, technical advancements, communication trends, emergency response preparedness, and psychological well-being.

Expanding Horizons with MYBA

As the superyacht industry continues to evolve, MYBA remains at the forefront, championing professionalism, ethics, and excellence. Through their network of esteemed members, standardized contracts, and commitment to continuous improvement, MYBA sets the standard for the superyacht industry. Whether you are a client seeking a seamless charter experience or a professional looking to connect with industry experts, MYBA offers a gateway to a world of unparalleled luxury and expertise.

Connect with MYBA and unlock endless possibilities in the world of luxury yachting.

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Disclaimer: This article is a creative reinterpretation and synthesis of information from multiple sources. It does not constitute official documentation or legal advice. Please refer to the MYBA Yachting Association and their official publications for accurate and up-to-date information.

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