WMT ( Western Mediterranean Terms, according to MYBA)

Included in the charter rate are:

Hire of the yacht (use, maintenance, etc.)
Crew cost, except food
Marine insurance for the yacht, including third party liability
All other operational expenses, such as for fuel (main engines, outboard engines, jet skis, etc.), food for guests and crew, water, harbour dues, bar and drinks, telecommunication and taxes are to be paid extra by the Charterer.

EMT (Eastern Mediterranean Terms, semi-inclusive)

Included in the Charter rate are:

Hire of the Yacht
Crew Cost
Marine Insurance for the yacht and third party liability.
Crew food
Fuel and lubrication oil for the generators, and for four hours use of the main engine(s), per day
Harbour and pilot dues (but not any applicable canal dues), including charges for electricity taken from the shore
Water, and cleaning materials.
All other operational expenses, such as for food for the guests, bar and drinks, telecommunication, fuel for the outboard engines and jet skis etc., as well as and taxes are to be paid extra by the Charterer.

CT (Caribbean Terms, inclusive)

Under these charter terms the above cost (WMT 1.-3. and EMT 1.-4.) as well as food for the guests (3 meals per day) are included in the charter rate.

All other, personal, operational expenses, such as for bar and drinks, telecommunication, fuel for outboard engines and jet skis, etc., as well as mooring fees at “special” marinas and taxes are to be paid extra by the Charterer.

(Sometimes table wines can be included.)

CT (Caribbean Terms, inclusive)

In all areas of the Western Mediterranean VAT has to be paid on the charter sum, ca. 4.5% to 20-21%.
Exeptions: Commercially registered yachts. Indicated with :”No VAT”
It is customary to pay a deposit for the expected operational expenses well before commencement of the charter (A.P.A, Advance Provisioning Allowance).
As indication, this APA for the operational expenses amount to:
25-35% of the charter fee under WMT (Western Mediterranean Terms)
15-20% of the charter fee under EMT (Eastern Mediterranean Terms)
ca 5% of the charter fee under CT (Caribbean Terms, inclusive)
The true cost (which to quite some extent depend on the demand of the guests) for above expenses will be accounted for by the Captain.

Details are thought to be reliable but are not guaranteed.

Demise Agreements

Hold-over from the middle-ages – widely used in the USA where the Jones act does not permit non-US built boats to charter from US ports. Contract is in two parts: 1. contract for the boat (bare-boat) 2. Contract with the captain and crew. All expenses handled separately as part of an advance (APA) to the captain.