What is the MYBA Memorandum of Agreement?

The MYBA MoA is a recognised yacht sale and purchase agreement framework. MYBA currently refers to its sale contract as the MYBA Sales Agreement (MoA). Once executed for a transaction, it records the commercial terms and sets the contractual process through inspection, closing and delivery.

Is the MYBA MoA legally binding?

A completed and executed yacht sale agreement can create binding contractual obligations. The legal effect of the specific document, amendments and method of execution should be confirmed by the parties' lawyers.

Does every yacht sale use the MYBA MoA?

No. It is widely recognised in professional yacht brokerage, but parties can use other recognised forms or bespoke agreements depending on the transaction.

Is the MYBA Memorandum of Agreement the same as the MYBA Charter Agreement?

No. The MYBA sale agreement concerns transfer of yacht ownership. The MYBA Charter Agreement governs temporary charter use of a yacht.

Who prepares the MYBA MoA?

The brokerage teams can coordinate the commercial information and transaction process, while the parties' lawyers should review the actual agreement and any amendments before signature.

Do I need a lawyer to sign a MYBA MoA?

Lund Group recommends independent maritime legal advice for a yacht acquisition. The agreement can determine significant rights concerning deposit, survey, delivery, default and closing.

What information does a yacht sale agreement contain?

Depending on the form and transaction, it can address the parties, yacht, purchase price, deposit, survey and sea trial process, delivery, inventory, documentation, closing and party obligations.

How much is the deposit under a MYBA yacht purchase?

A ten-per-cent deposit is a familiar market convention in many brokerage transactions, but it is not a universal legal requirement. The signed agreement determines the actual amount.

Where is the yacht purchase deposit held?

The agreement should identify the relevant stakeholder or agreed account arrangement and the conditions under which funds can be released or returned.

Is the yacht purchase deposit paid directly to the seller?

Not necessarily. Brokerage transactions commonly use an agreed stakeholder, escrow or client-account arrangement. The actual mechanism must be verified from the transaction documents.

Does signing the MYBA MoA mean I own the yacht?

No. Signing the sale agreement starts the contractual acquisition process. Ownership transfers at closing in accordance with the agreed documents and delivery arrangements.

When does the yacht survey happen?

The survey normally forms part of the contractual acquisition process after the agreement is signed, but timing and rights depend on the actual contract.

Does the MYBA MoA guarantee the buyer a sea trial?

The agreement used for the transaction determines whether and how a sea trial is provided. Buyers should not assume rights that are not contained in the signed contract.

Can a buyer reject a yacht after survey?

Any right to reject depends on the purchase agreement, the survey process and the buyer's compliance with the required notice procedure. It should be reviewed with maritime counsel.

Does every survey defect allow the buyer to renegotiate?

No. A technical finding does not automatically create a contractual right to a price reduction. The response depends on the agreement, materiality and negotiation.

What happens if the seller agrees to repair survey findings?

Any agreed repairs, timing, verification and contractual consequences should be documented appropriately by the transaction advisers rather than left to informal understanding.

What is included in the yacht sale?

The yacht and an agreed inventory are typically addressed in the transaction documentation. Tenders, toys, art, personal effects and other assets should never be assumed to be included solely because they appear onboard or in photographs.

Does a yacht's tender automatically come with the yacht?

No. Inclusion should be verified against the agreed sale inventory and transaction documents.

Does buying a yacht include its berth?

Not automatically. Berth ownership or marina contracts are generally separate matters and must be independently confirmed.

What happens at yacht closing?

At a high level, the parties satisfy the agreed closing requirements, exchange the necessary funds and documents, deliver the yacht and transfer title according to the contract.

What is a yacht bill of sale?

It is an important document used to evidence transfer of ownership. The required form and execution depend on the transaction and registry, so legal advisers should manage it.

What is the protocol of delivery and acceptance?

A delivery and acceptance document can record the formal handover of the yacht at closing. The precise form and legal effect depend on the transaction documentation.

Does the MYBA agreement prove that the yacht is VAT paid?

No. VAT and customs status require supporting documentation and transaction-specific analysis. Physical location or the sale agreement alone does not establish tax status.

Can the yacht stay under the same flag after purchase?

Potentially. Registry strategy depends on the buyer, ownership structure, intended operation, lender requirements and applicable rules. It should be reviewed separately.

What happens if the yacht has a mortgage?

Existing mortgages or other encumbrances need to be addressed as part of legal due diligence and closing. The appropriate release mechanism depends on the transaction.

What if the yacht has future charter bookings?

Existing charter commitments should be identified during due diligence and addressed before closing. They should not be assumed to transfer automatically.

What happens to the yacht crew after the sale?

Crew employment is separate from yacht ownership transfer. Some crew may remain or be re-engaged, while others may leave. Employment arrangements should be addressed before closing.

Can the MYBA MoA be amended?

Transaction agreements can be amended or supplemented where the parties agree. Any changes can materially affect legal rights and should be reviewed by the parties' lawyers.

Can I use a MYBA MoA I found online?

An old specimen or third-party copy should not be treated as the operative current contract for a transaction. Use the current agreement supplied through the appropriate professional channel and have it reviewed by maritime counsel.

Can Lund Group draft my MYBA agreement?

Lund Group coordinates the commercial acquisition process and the information flow between the relevant parties. Legal drafting and advice on the agreement should be handled by appropriately qualified maritime lawyers.

Can Lund Group coordinate the purchase after the MoA is signed?

Yes. Lund Group can coordinate the commercial process, including brokers, viewing access, survey and sea-trial logistics, transaction communication and delivery planning, while independent legal and technical professionals remain responsible for their specialist work.

MYBA Memorandum of Agreement | Yacht Sale Contract Guide

Lund Group Yacht DeskCharter & Brokerage Desk11 min readReviewed 21 September 2026

MYBA currently refers to its yacht sale contract as the MYBA Sales Agreement (MoA). Within the brokerage market it is also widely referred to as the MYBA Memorandum of Agreement or simply the MYBA MoA. This guide explains what the framework does in a professional yacht sale and purchase: price, deposit, survey, sea trial, acceptance, delivery, title and closing. It does not reproduce the agreement or provide legal advice.

Explore yachts for sale Yacht brokerage explained Speak with the Yacht Desk

MYBA Sales Agreement (MoA)

Yacht sale and purchase. Includes a purchase deposit, normally held by a stakeholder.

MYBA Charter Agreement

Yacht charter. Uses an APA for running costs, which is not a purchase deposit.

Read the charter agreement guide

Where the MoA sits

01Offer agreed
02MoA signed
03Deposit lodged
04Survey & sea trial
05Acceptance
06Closing & delivery

Illustrative only. The actual sequence is set by the signed agreement.

What the MYBA Sales Agreement does

The MYBA Sales Agreement (MoA) is a standard framework used in many professional yacht sale and purchase transactions. Once completed and signed by the parties, it records the commercial terms of the sale and the steps both sides have agreed to follow between signature and closing.

Despite the name, a Memorandum of Agreement in this context is not a non-binding memo. It is a contract framework that becomes binding when executed. Its terms, and any amendments, should be reviewed by the buyer's and seller's own lawyers.

What it is not

The MoA is not a charter contract, a guarantee of the yacht's condition, a substitute for legal advice, or proof of title, VAT status or registration on its own. It sets out the process; due diligence, survey and the closing documents provide the evidence.

This guide explains how the framework works in general. It does not reproduce or interpret its wording.

Sale agreement vs charter agreement

The MYBA Sales Agreement deals with buying and selling a yacht. The MYBA Charter Agreement deals with chartering one. They are separate documents with different purposes.

A purchase deposit is part of the sale price held under the sale agreement. An Advance Provisioning Allowance (APA) is a charter concept for running costs during a charter. The two should not be confused.

Go deeperMYBA Charter Agreement

Not every yacht sale uses MYBA

MYBA terms are widely used in large-yacht brokerage, but other standard forms and bespoke contracts are also used, depending on the yacht, the jurisdiction, the parties and their advisers. The choice of form is a matter for the parties and their lawyers.

Who the parties are

The core parties are the buyer and the seller, often acting through companies. Brokers on each side coordinate the negotiation and process, and a stakeholder or escrow agent typically holds the deposit. Lawyers advise each party. Each role should be clearly identified in the agreement.

The role of the brokers

The seller's central agent and the buyer's broker manage communication, negotiation and timetables. They are not a substitute for legal advice and do not certify condition, title or tax status.

Go deeperYacht brokerage explained

The stakeholder or escrow agent

The deposit is commonly held by an agreed stakeholder or escrow agent, not paid directly to the seller. The agreement and any escrow terms define when and how funds are released, returned or applied to the purchase price.

The purchase price

The agreement records the agreed price, the currency and how it is paid at closing. It should be clear what is included in that price and how any adjustments, for example for agreed repairs, are handled.

The deposit

A deposit is usually paid after signature as a sign of commitment. The amount is negotiated and recorded in the agreement; there is no universal percentage. Its treatment if the sale proceeds, is cancelled or is defaulted on depends on the agreed terms.

See the purchase deposit and escrow guide for more detail.

Go deeperPurchase deposit & escrow

Survey

The agreement typically sets out whether a pre-purchase survey will take place, the location and time window, any haul-out, and who bears which costs. The survey itself is commissioned by the buyer and carried out by an independent surveyor.

Go deeperYacht survey guide

Sea trial

Where a sea trial is included, the agreement normally sets out its timing and practical conditions. The captain remains in command, and weather and safety may affect what can be done.

Go deeperYacht sea trial guide

Acceptance and rejection

After survey and sea trial, the agreement sets out how the buyer accepts the yacht, accepts it subject to agreed items, or rejects it where the terms permit, and what notices are required. Deadlines matter. A buyer's lawyer should confirm the procedure before the survey begins.

Defects and repairs

Not every survey finding gives a right to renegotiate. How defects are treated, and whether the seller repairs items or the price is adjusted, depends on the agreed terms and negotiation. Any agreed repairs should be documented, with clarity on who checks them and when.

What is included in the sale

The agreement normally refers to an inventory. Tenders, toys, art, personal items and spares should be checked against it; nothing should be assumed. A berth is usually separate and is not included unless specifically agreed.

Delivery and closing

Closing is when the balance is paid and ownership passes, usually against a set of documents, at an agreed time and place. Delivery may take place at the same time or immediately after, often recorded in a protocol of delivery and acceptance.

Title and closing documents

Closing documents typically include a bill of sale and evidence of good title, such as a registry transcript showing the yacht is free of registered mortgages. The exact documents depend on the flag and jurisdiction and are confirmed by the lawyers.

Go deeperPurchase due diligence

Mortgages and encumbrances

If the yacht has a mortgage, the agreement and closing arrangements should ensure it is discharged and deleted from the register at or before closing. Due diligence should confirm there are no other claims against the yacht.

Existing charter bookings

Future charter bookings should be disclosed and dealt with explicitly: honoured, transferred, cancelled or otherwise handled. Charter funds and obligations can affect the transaction.

Crew

A sale does not automatically transfer crew employment. Whether crew stay, and on what terms, is a separate matter for the new owner, the crew and their employers' advisers.

VAT and tax

The agreement does not on its own prove that a yacht is VAT paid. VAT status, customs position and any tax consequences of the purchase should be confirmed through due diligence and specialist tax advice.

Go deeperYacht VAT guide

Registration and flag

Whether the yacht stays under its current flag or changes after purchase is a separate decision. Deletion from the old register and registration on the new one must be planned around closing.

Go deeperYacht registration guide

Default and cancellation

The agreement sets out what happens if either party fails to perform, including deposit consequences. These are legal matters that depend on the agreed terms and governing law.

Governing law and disputes

The agreement specifies governing law and how disputes are resolved. Both parties should understand these choices before signing.

Amendments and riders

Parties often negotiate amendments or additional clauses to fit a specific transaction. Any change should be agreed in writing and reviewed by lawyers. A version found online should not be relied on without advice.

Why a lawyer matters

A specialist yacht lawyer reviews the agreement, the escrow terms, title, closing documents and tax position, and protects the client's interests at each deadline. The broker coordinates the transaction but does not replace legal advice.

How the MoA fits the wider process

The MoA connects the commercial deal to the practical steps that follow: deposit, survey, sea trial, acceptance, due diligence, closing and delivery. Each step has its own guide in Lund Group's library.

Before you sign

Common points to clarify include: who the contracting entities are, the price and what it includes, deposit amount and holder, survey and sea trial windows, acceptance deadlines, delivery location, closing documents, mortgage discharge, existing charters, berth treatment and governing law.

Red flags

Be cautious if the deposit is to be paid directly to the seller, the seller's ownership cannot be evidenced, deadlines are unrealistically short, the inventory is vague, or there is pressure to sign without legal review.

— Preparation tool

Prepare for your yacht purchase agreement

Buyer or seller?
Yacht identified?
Offer agreed?
Financing involved?
Survey required?
Sea trial expected?
Delivery in another region?
Existing yacht mortgage?
Charters already booked?
Berth involved?
Lawyer appointed?

Topics to discuss with your lawyer and broker

Answer a few questions to build your list.

A preparation checklist, not legal advice, drafting or clause interpretation.

— Yacht Desk

Discuss a purchase with the Yacht Desk

We coordinate the commercial process, survey and sea trial logistics, and communication between parties. Legal drafting and advice remain with qualified maritime lawyers.

Brokerage explained Deposit & escrow Survey guide Sea trial guide Due diligence How to buy VAT guide Registration MYBA Charter Agreement

How this guide is maintained: written and reviewed by the Lund Group Yacht Desk. This guide is general information only. It does not reproduce MYBA documents, is not legal advice and is not a substitute for independent maritime counsel. Lund Group is not affiliated with MYBA.

Questions

What is the MYBA Memorandum of Agreement?: The MYBA MoA is a recognised yacht sale and purchase agreement framework. MYBA currently refers to its sale contract as the MYBA Sales Agreement (MoA). Once executed for a transaction, it records the commercial terms and sets the contractual process through inspection, closing and delivery.
Is the MYBA MoA legally binding?: A completed and executed yacht sale agreement can create binding contractual obligations. The legal effect of the specific document, amendments and method of execution should be confirmed by the parties' lawyers.
Does every yacht sale use the MYBA MoA?: No. It is widely recognised in professional yacht brokerage, but parties can use other recognised forms or bespoke agreements depending on the transaction.
Is the MYBA Memorandum of Agreement the same as the MYBA Charter Agreement?: No. The MYBA sale agreement concerns transfer of yacht ownership. The MYBA Charter Agreement governs temporary charter use of a yacht.
Who prepares the MYBA MoA?: The brokerage teams can coordinate the commercial information and transaction process, while the parties' lawyers should review the actual agreement and any amendments before signature.
Do I need a lawyer to sign a MYBA MoA?: Lund Group recommends independent maritime legal advice for a yacht acquisition. The agreement can determine significant rights concerning deposit, survey, delivery, default and closing.
What information does a yacht sale agreement contain?: Depending on the form and transaction, it can address the parties, yacht, purchase price, deposit, survey and sea trial process, delivery, inventory, documentation, closing and party obligations.
How much is the deposit under a MYBA yacht purchase?: A ten-per-cent deposit is a familiar market convention in many brokerage transactions, but it is not a universal legal requirement. The signed agreement determines the actual amount.
Where is the yacht purchase deposit held?: The agreement should identify the relevant stakeholder or agreed account arrangement and the conditions under which funds can be released or returned.
Is the yacht purchase deposit paid directly to the seller?: Not necessarily. Brokerage transactions commonly use an agreed stakeholder, escrow or client-account arrangement. The actual mechanism must be verified from the transaction documents.
Does signing the MYBA MoA mean I own the yacht?: No. Signing the sale agreement starts the contractual acquisition process. Ownership transfers at closing in accordance with the agreed documents and delivery arrangements.
When does the yacht survey happen?: The survey normally forms part of the contractual acquisition process after the agreement is signed, but timing and rights depend on the actual contract.
Does the MYBA MoA guarantee the buyer a sea trial?: The agreement used for the transaction determines whether and how a sea trial is provided. Buyers should not assume rights that are not contained in the signed contract.
Can a buyer reject a yacht after survey?: Any right to reject depends on the purchase agreement, the survey process and the buyer's compliance with the required notice procedure. It should be reviewed with maritime counsel.
Does every survey defect allow the buyer to renegotiate?: No. A technical finding does not automatically create a contractual right to a price reduction. The response depends on the agreement, materiality and negotiation.
What happens if the seller agrees to repair survey findings?: Any agreed repairs, timing, verification and contractual consequences should be documented appropriately by the transaction advisers rather than left to informal understanding.
What is included in the yacht sale?: The yacht and an agreed inventory are typically addressed in the transaction documentation. Tenders, toys, art, personal effects and other assets should never be assumed to be included solely because they appear onboard or in photographs.
Does a yacht's tender automatically come with the yacht?: No. Inclusion should be verified against the agreed sale inventory and transaction documents.
Does buying a yacht include its berth?: Not automatically. Berth ownership or marina contracts are generally separate matters and must be independently confirmed.
What happens at yacht closing?: At a high level, the parties satisfy the agreed closing requirements, exchange the necessary funds and documents, deliver the yacht and transfer title according to the contract.
What is a yacht bill of sale?: It is an important document used to evidence transfer of ownership. The required form and execution depend on the transaction and registry, so legal advisers should manage it.
What is the protocol of delivery and acceptance?: A delivery and acceptance document can record the formal handover of the yacht at closing. The precise form and legal effect depend on the transaction documentation.
Does the MYBA agreement prove that the yacht is VAT paid?: No. VAT and customs status require supporting documentation and transaction-specific analysis. Physical location or the sale agreement alone does not establish tax status.
Can the yacht stay under the same flag after purchase?: Potentially. Registry strategy depends on the buyer, ownership structure, intended operation, lender requirements and applicable rules. It should be reviewed separately.
What happens if the yacht has a mortgage?: Existing mortgages or other encumbrances need to be addressed as part of legal due diligence and closing. The appropriate release mechanism depends on the transaction.
What if the yacht has future charter bookings?: Existing charter commitments should be identified during due diligence and addressed before closing. They should not be assumed to transfer automatically.
What happens to the yacht crew after the sale?: Crew employment is separate from yacht ownership transfer. Some crew may remain or be re-engaged, while others may leave. Employment arrangements should be addressed before closing.
Can the MYBA MoA be amended?: Transaction agreements can be amended or supplemented where the parties agree. Any changes can materially affect legal rights and should be reviewed by the parties' lawyers.
Can I use a MYBA MoA I found online?: An old specimen or third-party copy should not be treated as the operative current contract for a transaction. Use the current agreement supplied through the appropriate professional channel and have it reviewed by maritime counsel.
Can Lund Group draft my MYBA agreement?: Lund Group coordinates the commercial acquisition process and the information flow between the relevant parties. Legal drafting and advice on the agreement should be handled by appropriately qualified maritime lawyers.
Can Lund Group coordinate the purchase after the MoA is signed?: Yes. Lund Group can coordinate the commercial process, including brokers, viewing access, survey and sea-trial logistics, transaction communication and delivery planning, while independent legal and technical professionals remain responsible for their specialist work.

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.