This covers what happens with your precious property when the management contract expires and it is returned to you. It goes without saying that this is essential. In your contract, it is likely that "… the yacht must be returned to you in good condition, all systems work, no defects or maintenance problems except in case of fair wear… Your contract outlines all the important points that the charter company will resolve if problems are discovered, as well as the steps taken to deal with them (replacement, overhaul, reconstruction, etc.). Serious companies will provide a comprehensive "phase-out manual" that details all of this. This is where the concept of "fair wear" comes into play. This means that you can reasonably not expect to get a boat that will be turned into a new state. That would be unfair, since your boat has been chartered for 4 or 5 years and even if everything should be in a properly verified condition, you do not receive new cushions, new sails, a new engine, unless everything is destroyed. And that`s right. Accidents: In the event of an accident, follow the same procedures as those mentioned above.
In the case of a grounding, however, you or the charter company can only find long after the fact (during the annual extract) that your boat has failed. A word of caution: don`t be too quick to throw the stone at the charter company. Sometimes charterers merge and do not report it to avoid embarrassment and potential commitments. If the base is not organized to send a diver to inspect each boat that comes back from the charter, which is not always possible, the charter company will probably only know that on the next transport. There`s nothing you can do about it. The Regents of the University of California Guidelines for Vessel Charters This document is provided to outline risk management policies if the university does not charter in possession of ships. A Charter Charter company have a large lump sum liability coverage. Your management contract describes how your business covers your yacht. Some companies cover 100%, but some only up to 80% of the total value of the tréma, and it`s your decision to pay the difference 100% or not.
Our personal experience strongly recommends that we pay the additional fees for at least the first 2 years of your contract. After that, your yacht is worth less than 80% of the original value anyway. Another thing to check: you want to be mentioned as an additional insured in the policy. The reason is that any negligence of the charter company cannot be attributed to the owner (you) and can be used by the insurance company as an escape clause against you. Therefore, the insurance company is required to pay you for damage to your boat, regardless of the amount of negligence of the charter company. If your yacht is parked in a hurricane-risk area like the Caribbean, Bahamas or Florida, you want to know what the hurricane plan is and the procedures. Contact01803 611030 13, Hyde Road, Paignton, Devon. TQ4 5BW. www.targetpropertyservices.com TARGET PROPERTY RENTALS RENTALS – MANAGEMENT AGENCY AGREEMENT This agreement is reached between 3009 Galley Road Colorado Springs, CO 80909 Phone: 719-359-9491 E-mail: Misty@ACutAboveManagement.com Website: www.acutabovemanagement.com MANAGEMENT AGREEMENT Taking into account the agreements reached in this agreement, please check all pages – page 4 of 6 b.