The standard sale contract, clause by clause, in plain language.
What it is
The MYBA MOA is an industry-standard form of sale agreement published by the Mediterranean Yacht Brokers Association and used widely, though not universally, for brokerage sales. Its value is familiarity: buyer, seller, brokers and lawyers all know how it allocates risk, which shortens negotiation.
The core terms
The agreement identifies the yacht and her inventory, states the purchase price and currency, sets the deposit and where it is held, fixes dates for survey, sea trial and closing, and specifies the place of delivery and the condition in which the yacht is to be delivered.
- Yacht identification and agreed inventory
- Price, currency and payment schedule
- Deposit amount and escrow arrangements
- Survey and sea trial windows
- Delivery place, date and condition
- Governing law and dispute resolution
Survey and sea trial
The buyer is conventionally given a defined period to survey the yacht and sea trial her. If material defects are found, the buyer may typically require them to be remedied, negotiate a price adjustment, or reject the yacht and recover the deposit, within the notice periods the agreement sets. Those notice periods matter: missing one can be read as acceptance.
Title, encumbrances and closing
The seller warrants clean title, free of debt, mortgage, lien or other encumbrance, and undertakes to deliver the documents needed to transfer and re-register her. At closing the balance is paid and a bill of sale and protocol of delivery and acceptance are exchanged.
Where advice is essential
The standard form is a starting point, and material transactions are routinely amended, particularly around VAT and import status, corporate ownership, crew arrangements, warranties and tax. Both sides should have their own maritime lawyer. We are not lawyers and do not give legal advice.
Questions
- Is the MYBA MOA compulsory?
- No. It is a widely used industry standard, and other forms and bespoke agreements are also used.
- Is the deposit refundable?
- It depends on the agreed terms and on the circumstances, typically including a buyer's rejection rights following survey. Take legal advice on the specific contract.
This guide is general information about how the yacht market conventionally works. It is not legal, tax, financial or insurance advice, and it does not describe the terms of any specific yacht. Qualified advisers should be engaged on anything material, and rates, prices, availability and access are confirmed in writing before anything is committed.