Terms And Condtions

1. You must attend at least one of the annual Caribbean charter shows.
2. We require a file copy of your yacht charter contract; changes in contract must be submitted to RYV in advance.
3. We require a business telephone line that is covered during normal hours of business, Monday-Friday.
4. A copy of your business or trade license.
5. New brokers must take the on-line broker training course offered by CYBA (http://www.cyba.net/) and pass the oral exam.
6. Brokers may contact us on our toll free number (800) 524-7676 to check on yachts or via email at calendar@regencyvacations.com . The (800) number may not be given to charter clients, crews or other unauthorized persons. Web site’s locale is, www.rcsfleet.com (please inquire for user name and password)
7. The following commission structure applies: Broker 15%, Co-Brokered 15%, Broker with Travel Agent 20% (some exceptions apply, please confirm and do not assume 20%). Commission is earned only on funds collected by the broker.
8. Once a confirmation number has been issued, the charter yacht brokerage has 21 days to get the appropriate deposit to an acceptable trust account. It is the responsibility of the broker to ensure the USB bank reports the deposit to the clearinghouse in the required time frame. Charters booked 30 days in advance or less will require funds by ACH or wire transfer only.
9. Should a charter client cancel within the 21-day period, the charter yacht brokerage remains responsible for the deposit being placed in an account that is acceptable to RYV.
10. If a charter yacht brokerage is repeatedly late remitting funds, we reserve the right to put that brokerage onto a cash only basis. Brokerages on a cash only basis will have charter bookings confirmed only upon receipt of funds by RYV.
11. All funds must be in US dollars. Canadian and foreign brokers must send US dollar checks, ACH or wire funds directly to the RYV. Brokerage to pay all associated banking fees.
12. Where a charter is confirmed within four weeks or less of the charter commencement date, funds must be sent via ACH or wire transfer directly to the RYV’s client fund account. All costs relating to these wire transfers must be borne by the charter yacht brokerage.
13. Final payment on a charter may be made via check only if received by RYV at least 40 days before start of charter. Any payment sent less than 40 days before start of charter must be made via ACH transfer or Wire.
14. When working with a travel agent, we require proof of this cooperation in the form of a copy of the travel agent’s check.
15. In the event that a charter client wishes to cancel a charter, the following refund or re-application will apply:
    1. A refund will be made if agreement to this is given in writing, by both the owner/ yacht captain of the vessel and the charter yacht brokerage.
    2. A charter yacht deposit is considered an earned fee’ by the yacht. If the charterer cancels his booking and it is possible to re-book the yacht for the original dates, a refund of deposits received will be made. If the yacht is only re-booked for a portion of the original dates, the refund will be pro-rated. If the charterer wishes to apply the deposit to future dates within a limited period and the owner/yacht captain agrees, the deposit monies will be retained and applied to the new dates.
    3. Should the yacht become unfit for charter, a refund will be made. In the case of a mechanical breakdown, a 24-hour grace period is extended to the yacht to perform the charter.
    4. If the yacht owner/captain has to cancel a charter for any reason except Force Majeure, it is the responsibility of the owner/ yacht captain to use his best endeavors to obtain a suitable substitute vessel and to contact the broker directly to discuss both the need for cancellation and substitute vessels. It is the owner/yacht captain’s responsibility to pay the broker the commission, so that the charter yacht broker can return the full deposit to the charter client. This allows the broker to receive the earned fee on the charter..
    5. Disputes arising from cancellations of charters and refunds that cannot be resolved by the owner/yacht captain and the charterer shall be submitted for arbitration. The arbitration committee shall be comprised of three persons; one person nominated by the broker, one person nominated by the owner/yacht captain and one person nominated by the two arbitrators. The decision of the arbitration committee shall be final and binding on all parties involved. The arbitration committee must make a decision in a prudent and timely manner.
    6. A refund of deposit will be issued to the relevant party on the last day of the canceled charter, or first banking day thereafter.

Our responsibility as a Central Agent is to ensure that our member yachts receive the maximum number of charters during the winter season. We therefore try to ensure that only 2-3 days elapse between charters in high season. We ask that brokers assist us in this matter by checking whether or not the clients have flexibility in dates. Brokers should have their information together before contacting us. This includes the names of the yachts, the charter dates, number in the party, price range, etc. This will allow us to deal with your request in a timely and cost effective manner.

Please ensure that you receive a confirmation number and use this number on all correspondence and checks relating to that charter. Please make checks payable to the Regency Yacht Vacations Client Account.

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