The International Council of Marine Industry Associations, ICOMIA, and the European Boating Industry, EBI, have launched a set of International Standard Charter Terms and Conditions in association with YACHT-POOL International.
YACHT-POOL, the pioneer of charter insurance, has always been committed to safe chartering. Over fifteen years ago they developed the Faircharter Contract, that came as close as possible to balancing the legitimate concerns of both the charter company and the charterer-customer.
This set of International Standard Charter Terms and Conditions can be seen as a continuation of the Faircharter Contract, which is already well established in parts of Europe, and has been developed in association with YACHT-POOL and a working group formed by ICOMIA and EBI members who have experience in the charter industry.
They are intended to provide international, uniform general terms and conditions for charter contracts and aim to:
- support both charter providers and agencies associated with them, through legally compliant agreements, in accordance with regulations and endeavouring to adapt the conditions to any changes in the law.
- uniformly regulate a fair balance of interests between charter parties to create a cross-industry, international, uniform structure that is the same for all charterers.
The key benefits are:
- Legally compliant terms to protect charter companies and agencies based on an industry-wide, internationally harmonised framework that ensures a fair balance of interests between charter clients and charter providers
- Flexibility for individual agreements, such as the timing of the handover, return of the vessel, night sailing prohibitions, regulations regarding cancellations provided they do not contradict the General Terms and Conditions
- Improved image for the industry with a professional approach towards customers and stakeholders, as well as positive marketing effect towards clients
- The General Terms will be further developed in the coming years based on input from the industry and potential regulatory changes.
Joe Lynch, ICOMIA CEO said: “These International Standard Charter Terms and Conditions developed in association with EBI and YACHT-POOL show how the recreational marine industry can come together to work on a joint project that will benefit many. We hope that they will be widely used across the industry and we thank the members of the Charter Working Group for the work they put in to get this project to the finish post.”
Philip Easthill, Secretary General of EBI said: “It is important that there is a fair and consistent approach towards consumers and a harmonisation of industry practice that includes all parties; consumers, agents and charter companies.”
To find out more about the new International Standard Charter Terms and Conditions or to submit an application for them visit https://www.icomia.org/standard-charter-terms-conditions/.
