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Yacht charter has its own vocabulary. The most important terms are the base rate (hire of the yacht and crew), the APA (an advance for running costs) and the MYBA contract (the standard charter agreement).
APA (Advance Provisioning Allowance)
A sum paid in advance to the captain to cover running costs such as fuel, food, drinks and berthing. In Monaco it is typically 25%–40% of the base fee; it is fully accounted for and any unspent amount is returned.
MYBA contract
The standard yacht charter agreement published by MYBA, the Worldwide Yachting Association. It sets out the base rate, APA, payment terms, cancellation and the responsibilities of client and owner.
Base rate
The charter fee for hire of the yacht and her crew for the agreed period, quoted per day or per week. APA, VAT and gratuity are added on top.
Central agent
The brokerage appointed by a yacht's owner to manage her charter calendar, contracts and payments. Other brokerages arrange charters through the central agent.
Tender
The small motorboat carried by a yacht to take guests ashore, to beaches or restaurants, and to tow water toys.
Berth
A yacht's mooring place in a harbour such as Port Hercule. During event weeks, berth location strongly affects price and views.
Day charter
Hire of a crewed yacht for a half day (about four hours) or full day (about eight hours), returning to Monaco the same day with no overnight stay.
Crewed charter
A charter in which the yacht comes with a professional captain and crew who handle navigation, service and safety. Charters from Monaco are crewed charters.
Crew gratuity
A discretionary tip for the crew given at the end of the charter, typically 5%–15% of the base fee.
Embarkation port
Where the charter starts. For charters starting in Monaco, the embarkation country sets the VAT rate, not the yacht's flag.