If you are new to yachting you may be finding it hard to keep up with all the jargon. We’ve taken it upon ourselves to create a Bristow-Holmes dictionary for yachting!
Brokerage: A second hand yacht for sale.
Listing Agent: The broker who has been selected from the chosen house to look after and ultimately sell the yacht they are listing.
MYBA : The Worldwide Yachting Association – originally the Mediterranean Yacht Brokers Association, pronounced ‘Mee ba”. An international yacht brokers’ association based in the Mediterranean, one of the primary professional organisations for reputable charter brokers.
SPV: Special Purpose Vehicle is a company formed for the sole purpose of owning a vessel.
UBO: This stands for the Ultimate Beneficiary Owner. In other words the true owner of the vessel.
MYBA Contract: The most popular contract used in the Mediterranean and all over the world for charter and when purchasing a yacht.
Memorandum of Agreement: Otherwise known as a sale and purchase agreement. The Memorandum of Agreement outlines the contractual obligations of all parties involved in the purchase of a vessel.
Survey: An inspection conducted by a professional surveyor prior to the purchase of a vessel.
Sea Trial: A trial taken at sea conducted by a professional surveyor prior to the purchase of the yacht.
Harbour Fees: The rate/fee for docking in a harbour. This applies to all vessels and again depends on season, location and the Harbours availability.
Harbour Master: Is in charge of general activity from day to day in the harbour such as berths, traffic and anchorages.
Central Agent: The Brokerage House who has been contractually assigned to sell a yacht. All inquires for the yacht must come through them.
Charter: The rental of a yacht that belongs to someone else
Charter Yacht. A yacht that is available for charter/rental.
Charter Terms: The terms that you contractually sign prior to the charter of a yacht. You must adhere to these rules and they vary depending on location and charter agent.
APA: This stands for, Advance Provisioning Allowance, which refers to money given to the captain of the yacht at the beginning of a charter to be used for provisions during the trip. This can include such provisions as, port fees, fuel, and food and drink. Once the charter ends, any unspent amounts would be refunded and the captain also would provide a recipes of purchases.
Bareboat: A type of charter where the Captain and deckhands are not included.
Base Charter Rate: This refers to the price to rent the yacht, Captain and crew. It does not include any other provisions such as fuel etc.
Beam: The widest point of a yacht, this also refers to the radar signal/radar or sonar signal.
Displacement Yacht: Boats with displacement hulls move through the water by pushing the water aside and are designed to cut through the water with very little propulsion.
Anti-fouling Paint : A unique paint used to prevent growth of algae on the boats hull.
Zero-speed Stabilisers: This stabiliser improves comfort on a yacht by stopping any rolling when moving and at anchor.
Head: A toilet on-board a yacht.
Knot: The speed of a yacht which is measured in nautical miles per hour.