Cancellation Policy
Cancellation terms for every charter are set by the signed Charter Agreement between the Charterer and the yacht Owner. Blue Ocean Club LLC does not set or change those terms unilaterally. The summary below reflects the prevailing MYBA / CYBA market standard and applies unless your specific contract states otherwise.
1. Standard MYBA cancellation tiers
If the Charterer cancels after contract signature:
- More than 60 days before embarkation: 50% of the Charter Fee is retained (the deposit).
- Between 60 and 30 days before embarkation: 75% of the Charter Fee is retained.
- Within 30 days of embarkation: 100% of the Charter Fee is retained.
- APA is fully refunded less any non-refundable provisioning already committed by the Captain.
2. Cancellation by the Owner
If the Owner cancels (sale of vessel, mechanical failure, change of plans), the Charterer is entitled to a full refund of all sums paid, and the Owner is liable for any additional damages described in the Charter Agreement. We will also use reasonable endeavours to source an equivalent replacement yacht.
3. Force majeure
Force majeure events (named hurricanes, war, civil unrest, port closures, government travel bans, loss of the yacht) are governed by the relevant clause of the Charter Agreement. Typical outcomes are: (a) postponement to mutually agreed alternative dates, (b) substitution to a comparable vessel, or (c) pro-rata refund of unused charter days. Pandemics and government health restrictions are notautomatically covered by MYBA force majeure — read the contract carefully or purchase charter cancellation insurance.
4. Cancellation & curtailment insurance
We strongly recommend that every client purchase a dedicated charter cancellation & curtailment policy (e.g., CharterGuard, YachtPool, Pantaenius) at the time of contract signature. These policies typically cover cancellation due to illness, bereavement, accident, named-storm interruption, and mechanical failure of the vessel during charter.
5. Refund processing
Refunds owed to the Charterer are paid by the Stakeholder / central agent directly from the escrow account, normally within 14 days of the cancellation being acknowledged in writing. Wire transfer fees are deducted from the refunded amount unless otherwise agreed.
6. Brokerage fee on cancellation
Blue Ocean Club LLC does not charge a separate brokerage fee to the Charterer. Our commission, payable by the Owner, is earned upon embarkation and is only retained on cancellation in line with the Charter Agreement’s allocation of the retained deposit.