It’s one of the most common questions I get, and for good reason. When you’re spending thousands (or even hundreds of thousands) on a luxury yacht vacation, you want to know where you stand if something goes wrong. 🛥️
In this video, I’m breaking down refund policies under the MYBA charter contract, the industry standard for nearly all charters in Europe and the Mediterranean. Its the same though whether you are looking at the CYBA contract in the Caribbean or the MYBA contract in the Mediterranean.
Private yacht charters operate very differently from hotels because you are reserving an entire privately owned asset, along with a dedicated crew, exclusively for your group during a specific period. Once those dates are removed from the market, it is often difficult or impossible for the owner to rebook the yacht on short notice. Unlike hotels, which can resell individual rooms across hundreds of guests, a yacht owner relies on a limited number of charter weeks each season.
For that reason, confirmed private yacht charters are typically non-refundable across the entire yacht charter industry. Not just through Sanderson Yachting. Regardless of which brokerage or yacht you book through, private crewed yacht charters universally operate under non-refundable charter agreements such as CYBA and MYBA. We always strongly recommend travel insurance to protect your investment in the event of unexpected circumstances.
📜 What are the MYBA and CYBA Charter Contracts?
The MYBA contract (Mediterranean Yacht Brokers Association) and CYBA contract (Caribbean Yacht Broker Association) are professional, internationally recognized agreements used for most crewed charters in the Caribbean and the Mediterranean. These contracts were created by maritime law attorneys and outline your rights, the yacht owner’s obligations, and refund terms—but here’s the key:
🚫 Refunds are not automatically guaranteed unless specific conditions are met.
❌ Canceling Your Trip? Read This First.
If you decide to cancel for personal reasons:
- You will forfeit any payments made up to that point
- No refund is guaranteed
- This is where travel insurance becomes essential
💡 Pro tip: Look for a Cancel For Any Reason (CFAR) policy if you want extra flexibility.
⚙️ What If the Yacht Becomes Unusable?
If the yacht suffers a mechanical failure, accident, or becomes otherwise unusable, the CYBA and MYBA contract offers:
✅ A replacement yacht of similar or better quality
✅ A pro-rata refund for any days lost
✅ A full refund only if a replacement cannot be arranged
This ensures you’re not left stranded, but it depends on the specific situation and availability of similar yachts.
🌦️ What About Bad Weather?
Yacht charters are a rain-or-shine experience.
🧭 Itinerary changes are common
🛑 Cancellations only happen if the captain deems it unsafe
💨 Light rain, wind, or cloud cover? Expect to keep sailing with an adjusted route.
⚠️ Force Majeure Events (Natural Disasters, Pandemics, Political Unrest)
Events outside of everyone’s control fall under the “Force Majeure” clause. In these cases:
- ❌ Refunds are not guaranteed
- 🤝 You may be able to reschedule your trip
- ✅ Again, travel insurance can protect you in these situations
💡 Bottom Line: Know Before You Book
Yacht charters are an unforgettable experience—but they come with firm policies that protect both guests and owners.
Before you commit, make sure to:
- ✅ Understand your charter contract (especially under MYBA)
- ✅ Ask your broker about refund terms
- ✅ Buy travel insurance—it’s worth every penny for peace of mind
📲 Questions? I’m Here to Help.
If you’re planning a charter and want to make sure you’re covered, reach out.