What happens if I need to cancel my yacht charter? My sister has booked her wedding during the same week that we have booked our yacht charter holiday? Is it possible to get a full refund?
Because of the work, and costs, involved in the preparation of a charter, there are bound to be penalties applied should you need to cancel your charter. The level of financial consequences will often depend on the circumstances, whether these are for serious medical or for personal reasons, and how far ahead of your charter you need to cancel. It will also depend whether the Owner manages to re-book their yacht over the period of time you initially contracted. These are all subject to discussion, even if there is a general provision in most charter contracts that once the first instalment and/or security deposit has been paid by the charterer to validate the terms of the contract / hire agreement, then the said instalment or deposit will be used as liquidated damages in case the charterer cancels the contract. The good news is that there are also provisions for liquidated damages in all charter contracts should the Owner decide to cancel the contract for reasons other than Force Majeure. Simply make sure you read the draft contract thoroughly before signing, and always ask your broker for help should you have any question – but try not to cancel, as you cannot expect to cancellations to come in free.