Once the application is received, the name and fact of the applicant of the application [published on the public myBA website, www.myba-association.com that will be fully accessible to the public. – NB will be as soon as the site is ready] A broker will market the seller`s boat, which includes arreverizing the visits, negotiating the terms of sale, processing the papers and obtaining an agreement for the sale price. A broker may also conduct property and financial account checks, provide documents supporting the vessel`s VAT status and, after receiving proof of classification, buildings and other rules. For this work, the broker usually charges the seller (and sometimes the buyer) an agreed commission, usually 10% of the gross selling price of MYBA members. When using myBA`s electronic charter agreement, users are required to ensure that, in all transactions, only current MYBA charter contracts with a single serial number are used on pages 1-2. Computer-generated photocopies or copies should not be accepted as they may contain changes and/or errors that may not be immediately recognizable. – Recent references from established, real estate agents confirming that the applicant`s main activity is the arrangement of chartering and/or the management of the chartering of large yachts and vessels with a minimum length of 20 m. Please indicate the full names and email addresses of the referee. (model reference form for information) Surround yourself with people who know what they are doing and have a good balance sheet, including: surveyor, lawyer, super-yacht manager, broker and VAT.-advisor/accountant. Make sure your contract, specific terms and conditions are all available in writing. The most common form of the agreement for the sale and purchase of used super yachts is the Mediterranean Yacht Brokers Association (MYBA) form of sale and purchase, known as the MYBA Memorandum of Agreement (MYBA MOA). Additional conditions or changes to standard conditions must be recorded (for example.B.
transfer of charters currently reserved for the season or works to be removed). It is important that oral agreements be recorded in writing. You should think carefully before signing the staff guarantee that subscribes to the company`s sales or purchase obligations. This can affect the ownership structure you have carefully set up and cause tax law problems when selling. Who`s my broker? Do I have to enter into an agency agreement? – Proof of professional liability insurance (negligence, error and omission coverage for your charter brokerage activity), coverage of at least 500,000 euros or 500,000 $US per debt, no annual aggregate or at any other level that MYBA can decide from time to time, depending on the currency in which the policy is written. If a U.S.-based subscriber is unable to obtain professional insurance for compensation and absence, this requirement may, at MYBA`s discretion, be met by individual users within the subscriber with individual equivalent insurance coverage on their behalf or name (for the amount indicated by MYBA) (click here for more details). – An official corporate document of the last 3 months, which it appears that the company is an established yacht charter brokerage company. This may vary from country to country, for example: a K-to-France; Companies House record in the UK; E-bis in Monaco; A reputable certificate Etc… MYBA reserves the right to verify at any time that the subscriber continues to comply with the terms of use and use of the subscription and, to that end, the subscriber undertakes to provide the company, on request, with the information that the company can reasonably require. If MYBA finds that it does not respond to the invitation, MYBA reserves the right to revoke the use of the e-Contract service in case of non-compliance.