Mediterranean Yacht Brokers Association (MYBA) Terms
Formerly known as Western Mediterranean Terms, MYBA (Worldwide Yachting Association, formerly known as Mediterranean Yacht Brokers Association) terms are often referred to as a "plus all expenses" contract. Under the terms of an MYBA contract, the below are typically inclusive of the base charter fee:
- Hire of the yacht including all water toys and equipment (in full working order);
- Wages and food of the crew for the duration of the charter;
- Ship’s laundry.
In addition to the above, expenses such as food and drinks for the guests, fuel (including main engines, tender fuel and jet skis, etc.), personal laundry, communication costs and berthing fees will also be applicable.
In order to make the payment structure coherent for guests, the additional expenses for the charter party will often be covered by an Advance Provisioning Allowance (APA) and often equates to approximately 25-30 percent of the base charter fee.
Although MYBA and CTI are the most commonly used contract terms, there are others that charterers may come across when booking a yacht charter and this is often dependent on the size of the yacht and where the yacht is traveling to.