Category:
Booking
Understanding the payment schedule helps you budget properly for your yacht charter vacation.
Standard Payment Schedule
At Booking (Contract Signing):
- 50% of the charter fee as a deposit
- This secures your yacht and dates
- Payment typically due within 5-7 days of signed agreement
8 Weeks Before Charter:
- Remaining 50% of charter fee
- Full APA amount (25-35% of charter fee)
- Any VAT (Value Added Tax) of the charter fee
- Delivery Fees (if any)
During Charter:
- The captain manages the APA account and tracks expenses
- Mid-week update is standard on longer charters, daily if you request.
- Additional APA payment if original amount proves insufficient (rare with proper planning)
End of Charter:
- Captain presents detailed expense accounting
- Unused APA funds returned to you (typically via wire transfer within 2 weeks)
- Crew gratuity paid separately (industry standard is 15-20% of charter fee)
Payment Methods Accepted
- Wire transfers (preferred for large amounts)
- Credit cards (may incur 3-5% processing fee)
- Certified checks (requires advance timing)
- Digital payment platforms for some brokerages
International charters may involve currency exchange considerations. Confirm the currency of payment with your broker—some Caribbean charters price in USD, while Mediterranean charters often use EUR. Your charter agreement will specify the currency and payment methods.
Security Deposits
Unlike the APA, most yacht charters do NOT require a separate security deposit. The charter fee and APA structure covers normal operational expenses, and yacht insurance protects against major damage. However, some charter yachts may require:
- Additional deposit for extremely high-value vessels or for special events
- Damage waiver fees as an alternative to deposits
- Always clarify deposit requirements with us during booking.
