Yacht Chartering and Brokerage
Expert-defined terms from the Certificate in Luxury Yacht Management course at London School of Planning and Management. Free to read, free to share, paired with a globally recognised certification pathway.
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A
1. Agency Agreement #
An agreement between a yacht owner and a yacht brokerage, granting the brokerage… #
The terms of the agreement typically outline the responsibilities and commissions of the brokerage.
2. APA (Advance Provisioning Allowance) #
A predetermined amount of money collected from the charterer in advance to cover… #
The APA is typically around 30% of the charter fee and any unused funds are returned to the charterer at the end of the charter.
3. Anchor #
A heavy metal device dropped from a yacht to the seabed to prevent the yacht fro… #
Anchors are essential for mooring the yacht in place, especially when not underway.
4. ASA (American Sailing Association) #
An organization that offers sailing education and certification programs for sai… #
ASA certifications are recognized worldwide and are often required for yacht chartering or employment in the yachting industry.
5. ASTA (American Society of Travel Advisors) #
A professional association for travel advisors and agencies that provides resour… #
ASTA members are held to high ethical standards and often specialize in luxury travel, including yacht charters.
6. Availabilities #
The dates when a yacht is available for charter #
Yacht charter brokers keep track of availabilities to match clients with suitable yachts for their desired dates.
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B
7. Bareboat Charter #
A type of yacht charter where the charterer rents the yacht without a crew #
The charterer is responsible for operating the yacht, including navigation, maintenance, and provisioning.
8. Beam #
The width of a yacht at its widest point #
Beam measurement is important for determining the size of a yacht and its stability in the water.
9. Brokerage #
The business of buying, selling, or chartering yachts on behalf of clients #
Yacht brokerage firms act as intermediaries between yacht owners and prospective buyers or charterers.
10. Brokerage Agreement #
An agreement between a yacht owner and a yacht brokerage, outlining the terms an… #
The agreement typically includes commission rates, marketing strategies, and duration.
11. Bulkhead #
A vertical partition or wall within a yacht that separates different compartment… #
Bulkheads contribute to the structural integrity and layout of the yacht.
12. Builder's Certificate #
A document issued by the yacht's builder certifying the construction of the yach… #
The Builder's Certificate includes details such as the yacht's specifications, hull number, and compliance with construction standards.
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C
13. Captain #
14. Charter Agreement #
A contract between the yacht owner or charter company and the charterer, detaili… #
The agreement includes the charter dates, destinations, payment terms, and responsibilities of both parties.
15. Charter Broker #
An intermediary who assists clients in finding and booking yacht charters #
Charter brokers have extensive knowledge of the yachting industry and help clients navigate the charter process, from selecting the right yacht to negotiating terms.
16. Charter Fee #
The cost of renting a yacht for a specified period, excluding additional expense… #
Charter fees vary depending on the size, type, and location of the yacht.
17. Charter Management #
The service of managing and marketing a yacht for charter on behalf of the owner #
Charter management companies handle all aspects of chartering, from marketing and bookings to crew management and maintenance.
18. Charter Yacht #
A yacht that is available for rent by individuals or groups for a specific perio… #
Charter yachts come in various sizes and styles, offering different amenities and accommodations for guests.
19. Classification Society #
An independent organization that sets and enforces safety and quality standards… #
Classification societies conduct surveys and inspections to ensure compliance with international regulations.
20. Crew #
The team of individuals hired to operate a yacht and provide services to guests #
Yacht crews typically include a captain, deckhands, engineers, chefs, and stewardesses, depending on the size and type of the yacht.
21. Crew Gratuity #
A discretionary tip given by charter guests to the yacht crew at the end of a ch… #
Crew gratuities are a customary way to show appreciation for the crew's service and are usually around 10-20% of the charter fee.
22. CYBA (Charter Yacht Brokers Association) #
An association of professional yacht brokers dedicated to promoting high ethical… #
CYBA members adhere to a strict code of ethics and provide expert advice to clients.
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D
23. Destination #
A specific location or region where a yacht charter will take place #
Destinations can include popular cruising grounds, islands, coastal cities, or remote anchorages, depending on the client's preferences.
24. Displacement #
The weight of water displaced by a yacht's hull when it is floating #
Displacement is a key measurement used to determine a yacht's size, stability, and carrying capacity.
25. DOA (Dead on Arrival) #
A term used in the yachting industry to describe a yacht that arrives at a chart… #
DOA situations require immediate repairs or replacement of the yacht.
26. Down Payment #
An initial payment made by the charterer to secure a yacht charter reservation #
The down payment is typically a percentage of the total charter fee and is non-refundable if the charter is canceled by the charterer.
27. Drop Off #
A term used to describe the act of disembarking charter guests at the end of a c… #
Drop-off locations can vary depending on the charter itinerary and may involve marinas, anchorages, or private docks.
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E
28. Embarkation #
The process of boarding a yacht at the beginning of a charter #
Embarkation typically involves a safety briefing, orientation to the yacht's facilities, and introductions to the crew.
29. Endorsements #
Additional certifications or qualifications obtained by yacht crew to demonstrat… #
Endorsements can include training in areas such as diving, medical care, firefighting, or navigation.
30. Engine Room #
The compartment on a yacht where the main engines, generators, and other mechani… #
The engine room is a critical area that requires regular maintenance and monitoring to ensure the yacht's safe operation.
31. Exclusivity Agreement #
An agreement between a yacht owner and a charter broker that grants the broker e… #
Exclusivity agreements are common in the luxury yacht charter industry to streamline bookings and maximize revenues.
32. Exterior Deck #
The outdoor areas on a yacht, including the main deck, flybridge, foredeck, and… #
Exterior decks provide space for relaxation, dining, sunbathing, and socializing, offering guests panoramic views of the surrounding seascape.
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F
33. Flag State #
The country under whose flag a yacht is registered #
Flag states are responsible for enforcing maritime regulations, safety standards, and tax requirements for vessels flying their flag.
34. Flotilla #
A group of yachts that sail together on a predetermined itinerary, often led by… #
Flotilla charters are popular for novice sailors or groups looking for a social cruising experience.
35. Forecastle #
The forward part of a yacht's main deck, located at the bow #
The forecastle may house crew quarters, storage areas, or equipment, depending on the yacht's design.
36. Full Displacement #
A type of yacht hull design that displaces its weight in water and moves through… #
Full displacement yachts are known for their stability, comfort, and fuel efficiency, making them popular for long-range cruising.
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G
37. Galley #
The kitchen area on a yacht where meals are prepared and cooked #
The galley is equipped with appliances, storage, and workspaces to accommodate the chef and stewardesses in providing gourmet dining experiences for guests.
38. Generator #
A device on a yacht that produces electricity to power onboard systems and equip… #
Generators are essential for providing lighting, air conditioning, refrigeration, and other amenities while the yacht is at anchor or underway.
39. Guest Cabin #
A private sleeping quarters for guests on a yacht, equipped with a bed, storage,… #
Guest cabins vary in size and layout depending on the yacht's design and can offer luxurious accommodations for charter guests.
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H
40. Hailing Port #
The port city or location listed on a yacht's registration documents as its offi… #
The hailing port is typically displayed on the yacht's transom along with its name and registration number.
41. Hull #
The main body of a yacht that floats on the water #
The hull provides buoyancy, stability, and structural support for the yacht and can be made of various materials such as fiberglass, aluminum, or steel.
42. Hydraulic Platform #
A movable platform on the stern of a yacht that can be lowered into the water to… #
Hydraulic platforms provide easy access to the water and can serve as a beach club or sunbathing area when raised.
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I
43. Interior Design #
The aesthetic and functional arrangement of interior spaces on a yacht #
Interior design elements include furnishings, decor, lighting, and materials that create a luxurious and comfortable environment for guests.
44. Itinerary #
A planned route or schedule of activities for a yacht charter #
Itineraries outline the destinations, anchorages, activities, and timing of the charter, tailored to the preferences and interests of the charter guests.
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J
45. Jet Ski #
A personal watercraft used for recreational activities such as waterskiing, wake… #
Jet skis are popular water toys on luxury yachts and provide guests with thrilling on-water experiences.
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K
46. Keel #
The structural fin or extension on the bottom of a yacht's hull that provides st… #
Keels can be fixed or retractable and influence a yacht's maneuverability and performance in the water.
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L
47. Layout #
The arrangement of spaces and compartments within a yacht's interior and exterio… #
Layouts vary depending on the yacht's size, style, and purpose, with options for multiple cabins, saloons, lounges, and recreational areas.
48. Leeward #
The side of a yacht that is sheltered from the wind #
Leeward sailing refers to navigating with the wind behind the yacht, providing smoother and more stable conditions for cruising.
49. Length Overall (LOA) #
The total length of a yacht from the tip of the bow to the stern, including any… #
LOA is a key measurement used to classify and compare yacht sizes.
50. LOA (Letter of Authority) #
A document issued by the yacht's flag state authorizing the yacht to operate leg… #
The LOA certifies that the yacht complies with safety, environmental, and operational requirements for maritime navigation.
51. LWL (Load Waterline Length) #
The length of a yacht's hull along the waterline when it is loaded with passenge… #
LWL is used to calculate a yacht's displacement, stability, and performance characteristics.
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M
52. Marina #
A facility with docks, moorings, and services for yachts and boats #
Marinas provide amenities such as fuel, water, electricity, showers, and restaurants for visiting vessels and are popular destinations for yacht charters.
53. MCA (Maritime and Coastguard Agency) #
A government agency in the United Kingdom responsible for maritime safety, secur… #
MCA regulations and certifications are recognized internationally for ensuring compliance with maritime standards.
54. Mediation Agreement #
An agreement between parties involved in a dispute or disagreement that appoints… #
Mediation agreements are used to resolve conflicts amicably without resorting to legal action.
55. Mooring #
The act of securing a yacht to a fixed or floating object, such as a dock, buoy,… #
Mooring is essential for keeping the yacht stationary and preventing drifting or damage while at anchor or in port.
56. Motor Yacht #
A type of yacht powered by engines rather than sails #
Motor yachts come in various sizes and styles, offering speed, luxury, and comfort for cruising in coastal waters or open seas.
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N
The science and practice of plotting, directing, and controlling the course of a… #
Navigation involves using charts, instruments, and electronic systems to ensure safe and efficient passage to a destination.
Lights installed on a yacht to indicate its position, direction, and status to o… #
Navigation lights are essential for safe nighttime navigation and are regulated by international maritime laws.
59. Net Charter Revenue #
The total revenue generated from a yacht charter after deducting expenses such a… #
Net charter revenue is the amount retained by the yacht owner or charter company as profit.
60. NOAA (National Oceanic and Atmospheric Administration) #
A U #
S. government agency that provides weather forecasts, nautical charts, and environmental data for maritime navigation. NOAA services are essential for safe and informed boating and yachting activities.
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O
61. Owner's Representative #
A designated individual or agency appointed by the yacht owner to oversee the ma… #
Owner's representatives act on behalf of the owner to ensure the yacht's best interests are upheld.
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P
62. Port #
A designated location where ships and yachts can dock or anchor to load, unload,… #
Ports provide essential services such as customs clearance, fueling, and waste disposal for visiting vessels.
63. Port Side #
The left side of a yacht when facing forward #
Port side is indicated by a red navigation light and is used in maritime terminology to distinguish directions and positions on board.
64. Provisioning #
The process of stocking a yacht with food, beverages, supplies, and amenities fo… #
Provisioning services can be arranged by the yacht owner, charter broker, or crew to ensure guests have a customized and enjoyable dining experience onboard.
65. Public Holidays #
Official holidays observed in various countries that may affect yacht charter sc… #
Public holidays can impact marina operations, port access, and crew availability during charter seasons.
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Q
66. Qualification #
A certification, license, or endorsement obtained by yacht crew to demonstrate t… #
Qualifications are essential for securing employment, advancing careers, and meeting industry standards.
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R
67. Registration #
The process of officially documenting a yacht with its flag state to establish o… #
Registration documents include the yacht's name, dimensions, ownership details, and registration number.
68. Rescue Boat #
A small, fast vessel carried on a yacht for emergency situations, rescue operati… #
Rescue boats are equipped with safety gear, communication devices, and first aid supplies to assist in maritime emergencies.
69. Resident Agent #
An individual or company appointed to represent a yacht owner in a specific juri… #
Resident agents handle official correspondence, filings, and compliance matters on behalf of the yacht owner.
70. RYA (Royal Yachting Association) #
A British organization that provides training, certification, and resources for… #
RYA qualifications are recognized globally and are often required for yacht crew positions.
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S
71. Safety Equipment #
Devices, gear, and systems installed on a yacht to ensure the safety and well #
being of passengers and crew. Safety equipment includes life jackets, fire extinguishers, EPIRBs, first aid kits, and emergency signaling devices.
72. Sailing Yacht #
A type of yacht propelled by sails and wind power #
Sailing yachts come in various designs, including sloops, ketches, and catamarans, offering eco-friendly and adventurous cruising experiences for charter guests.
73. Saloon #
The main living area on a yacht where guests can relax, dine, and socialize #
The saloon is typically located in the interior of the yacht and is furnished with seating, tables, entertainment systems, and panoramic views.
74. Seakeeping #
75. Security Deposit #
A refundable amount collected from the charterer as security against damages, lo… #
The security deposit is returned to the charterer after the yacht is inspected and any deductions are made.
76. Stabilizer #
A device or system installed on a yacht to reduce rolling and improve stability… #
Stabilizers can be active or passive and help minimize motion sickness and discomfort for guests and crew onboard.
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