Addendum to the MYBA charter agreement for COVID-19

    Due to the current situation in the world around the spread of the coronovirus infection, called COVID-19, many yacht owners, brokers, agents and charter companies have faced the problem of the lack of flexible response mechanisms to situations when charterers cannot use the already paid charter or the boat cannot Fulfill their obligations under the contract due to a sudden outbreak of the disease, or simply when potential customers are afraid to reserve boats for the upcoming summer season, so that they wouldn’t lose money, an international association of yacht brokers (MYBA), in conjunction with leading market brokers, has developed a special addition to the standard chartered contract, designed with maximum flexibility to solve these problems without making some amendments to the basic contract. After all, quarantine will someday end and everyone will return to the standard contract. This will be extremely simple, since the supplement is effective only under conditions related to the restrictions on the spread of the COVID 19 virus infection. The virus will end and the effect of the additions will end.


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