Terms of Use

General Terms

Applicable to all users of the Site

1. About Boatcrowd and our role

Boatcrowd operates an online yacht marketplace and acts as a yacht broker. In charter, we help you discover and compare crewed yachts across our destinations and arrange your charter with the relevant owner, operator or central agent (see Part A). In sales, we market yachts for sale on behalf of sellers, introduce buyers to suitable yachts and assist both sides through viewing, offer, survey and closing (see Part B).

Boatcrowd does not own, operate, crew, manage or control the yachts listed on the Site, and we do not sell yachts as principal. In every transaction our role is that of broker and, where applicable, stakeholder: we introduce the parties, facilitate the negotiation and signing of the relevant agreement, and, where agreed, hold and transmit funds in accordance with that agreement.

2. Eligibility

You must be at least 18 years old (or the age of majority in your jurisdiction) and able to enter into legally binding contracts to use the Site and make an enquiry, booking, offer or listing. By using the Site you represent that you meet these requirements. If you use the Site on behalf of a company, trust or other organisation, you represent that you are authorised to bind that organisation to these Terms.

3. Identity verification (Know Your Customer)

To meet anti-money-laundering, counter-terrorist-financing, sanctions and know-your-customer ("KYC") requirements, and the requirements of owners, sellers, flag states, marinas, payment providers, banks and authorities, we require the parties we act for to complete identity and address verification before a transaction is confirmed. This typically includes a clear copy of the individual's passport or other government-issued photographic identification and, where requested, proof of address such as a recent utility bill or bank statement.

• Charter. Verification of the lead charterer (and, where applicable, guests) is required for term charters under industry-standard agreements (such as MYBA, CYBA, IYBA or regional equivalents) and, in most of the destinations we cover, also for day charters and smaller vessels.
• Sales. Verification of buyers and sellers is required before a sale contract is signed and before any deposit or purchase funds are accepted. Given the sums involved, we may additionally require evidence of source of funds or source of wealth, and, where a party is a company, trust or other structure, details and identification of its directors, signatories and ultimate beneficial owners, together with proof of the entity's good standing and authority.

We may decline, suspend or cancel a booking, offer, listing or transaction, without liability to you, where the required documentation is not provided, is incomplete or cannot be verified, or where we or a counterparty have reasonable concerns relating to fraud, sanctions, money laundering or other legal or regulatory risk. Verification documents are collected, used, stored and, where necessary, shared with relevant parties (such as the owner, seller, buyer, central agent, stakeholder, banks and, where required, authorities) in accordance with our Privacy Policy.

4. Listings and third-party information

Information on the Site about yachts, owners, operators, central agents, sellers, destinations, events, asking prices and charter rates is compiled from those parties and from other sources, including publicly available information. It is provided in good faith but is not contractual. While we take reasonable care, we do not independently verify all such information and do not warrant that it is accurate, complete or current. Reviews and ratings, where shown, may be drawn from a combination of sources. Specification, condition, availability, price and title are confirmed only by inspection, survey (where applicable) and the relevant written agreement.

5. Acceptable use

When using the Site, you agree that you will not:

1. violate any applicable law or regulation in any jurisdiction;
2. harass, threaten, defame or stalk any person, or post content that is unlawful, obscene, hateful, misleading or infringing;
3. introduce viruses, malware or other harmful code, or attempt to gain unauthorised access to the Site, its servers or any data;
4. use any automated means (such as bots, scrapers or crawlers) to access, copy, monitor or extract content or data from the Site without our prior written consent;
5. impersonate any person or entity or misrepresent your affiliation with any person or entity;
6. post or transmit advertising, promotional material or spam, or submit fraudulent enquiries, bookings, offers or listings;
7. interfere with, disrupt, overburden or impair the Site or any networks or systems connected to it;
8. reverse engineer, decompile, decrypt or otherwise attempt to derive the source code of, or tamper with, any part of the Site; or
9. use the Site or its content for any unlawful or unauthorised commercial purpose, including re-listing yachts from the Site elsewhere without authority.

We may suspend or terminate your access to the Site at any time if we reasonably believe you have breached these Terms.

6. Intellectual property

The Site and its content, including text, graphics, logos, the "Boatcrowd" name and marks, software, design and the compilation of listings, are owned by or licensed to Boatcrowd and are protected by copyright, trademark and other intellectual-property laws. You may not copy, reproduce, republish, distribute, modify or create derivative works from any part of the Site without our prior written permission. Yacht images, specifications and descriptions may be owned by owners, sellers, operators, builders or other third parties and are used with permission; all trademarks shown are the property of their respective owners.

7. Privacy

Our collection and use of personal data is described in our Privacy Policy, which forms part of these Terms.

8. No professional advice

Boatcrowd is a yacht broker. We do not provide legal, tax, accounting, financial, investment, insurance, survey, flag-registration or immigration advice. Guides, cost estimates, VAT commentary, running-cost figures and similar material on the Site are general information only, may be out of date and are not a substitute for advice from your own qualified advisers, whom you should consult before entering into any charter or purchase.

9. Disclaimers

The Site and its content are provided on an "as is" and "as available" basis. To the fullest extent permitted by law, Boatcrowd disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement of the information published on the Site.

Boatcrowd acts as a broker and takes reasonable care in performing that role. However, because charters are provided by independent owners and operators, and yachts for sale are owned and sold by independent sellers, Boatcrowd does not warrant or guarantee the performance, quality, condition, seaworthiness, safety, specification, title, tax status or fitness for purpose of any vessel, crew or service. Those matters are the responsibility of the owner, operator or seller under the relevant charter agreement or sale contract, and are for you to verify through inspection, survey and your own advisers. Under industry-standard agreements (such as MYBA and CYBA forms), the broker's and stakeholder's liability is expressly limited and the principal parties agree to indemnify them in certain circumstances; the precise terms applicable to your transaction are set out in that agreement.

10. Limitation of liability

To the fullest extent permitted by law, Boatcrowd and its officers, employees, agents and affiliates shall not be liable for any indirect, incidental, special, consequential or punitive damages, or for any loss of profits, revenue, data, goodwill or anticipated savings, arising out of or in connection with your use of (or inability to use) the Site or any charter, sale or purchase facilitated through it. Boatcrowd is not liable for the acts or omissions of any owner, operator, central agent, seller, buyer, co-broker, surveyor, builder or other third party, or for matters governed by the charter agreement or sale contract.

Nothing in these Terms excludes or limits our liability for fraud, for death or personal injury caused by our negligence, or for any other liability that cannot be excluded or limited under applicable law. Subject to that, our total aggregate liability arising out of or in connection with the Site and these Terms shall not exceed the total commission or fees actually received and retained by Boatcrowd in respect of the relevant charter or sale transaction.

11. Indemnity

You agree to indemnify and hold harmless Boatcrowd and its affiliates from and against any claims, liabilities, damages, losses and expenses (including reasonable legal fees) arising out of or related to your breach of these Terms, your misuse of the Site, inaccurate information you supply for a listing or transaction, or your violation of any law or the rights of any third party. This is separate from, and in addition to, any indemnity you give under a charter agreement, central agency agreement or sale contract.

12. Changes to the Site and these Terms

We may modify, suspend or discontinue any part of the Site at any time. We may also update these Terms from time to time. The updated version will be posted on this page with a new "Last updated" date, and your continued use of the Site after changes take effect constitutes acceptance of the revised Terms. We encourage you to review this page periodically.

13. Governing law and jurisdiction

These Terms, and any dispute or claim arising out of or in connection with them or your use of the Site, are governed by the laws of Singapore, and the courts of Singapore shall have exclusive jurisdiction, save that nothing prevents us from seeking injunctive or other relief in any competent jurisdiction to protect our rights. Your charter agreement, central agency agreement or sale contract may specify its own governing law and dispute-resolution provisions (for example, English law under MYBA forms, or Florida law under certain US purchase agreements), which will apply to that agreement and to disputes arising under it. If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

14. How to contact us

If you have any questions, concerns or requests regarding these Terms, please contact our Legal & Compliance Officer:

Boatcrowd Pte. Ltd. (UEN 201833747E)
Attn: Legal & Compliance Officer
600 North Bridge Road, #11/08 Parkview Square, Singapore 188778
Email: legal@boatcrowd.com
Contact form: www.boatcrowd.com/about/contact

Part A

Yacht Charter

This Part applies, in addition to the General Terms, when you enquire about or book a yacht charter through Boatcrowd.

A1. How charters are booked and contracted

Listings, prices, availability and specifications shown on the Site are indicative only. They are provided by, or derived from information supplied by, yacht owners, operators and central agents, and are subject to change and to confirmation. Nothing on the Site constitutes a binding offer. An enquiry through the Site is a request for information or a quote, not a confirmed booking.

Every yacht charter is governed by its own separate, written charter agreement entered into for that specific yacht and charter. For most crewed yachts, superyachts and term charters, this is an industry-standard form, such as a MYBA (Mediterranean Yacht Brokers Association), CYBA (Caribbean Yacht Brokers Association) or IYBA (International Yacht Brokers Association) agreement, or a regional equivalent. For some day charters and smaller vessels, the operator's own charter terms may apply instead. The applicable agreement will be made available to you for the specific yacht you wish to charter.

Under industry-standard forms such as MYBA and CYBA, the charter agreement is typically made between four parties: the Owner of the vessel; the Stakeholder (the central agent appointed to manage the yacht's charter operations); the Broker (Boatcrowd); and the Charterer (you, the client). Boatcrowd enters into the agreement in its capacity as Broker.

That charter agreement, not these Terms of Use, sets out the commercial and legal terms of your charter, including the charter fee, the Advance Provisioning Allowance (APA), security deposit, payment schedule, cancellation and refund provisions, insurance, crew, permitted cruising area and itinerary, conduct on board, and the respective rights, obligations and liabilities of the parties. You are responsible for reading the charter agreement carefully before signing it. Once signed, you are bound by its terms, which prevail over these Terms in respect of your charter.

A2. Pricing, payments and commission

No markup. You pay the same as you would directly. Boatcrowd's commission is paid by the Owner and is already included in the charter price, so you pay the same rate as you would by approaching the Owner or central agent directly. We never add a markup, booking fee or surcharge. As your Broker, we use our relationships and standing in the yachting industry to source the right yacht and work to secure the most competitive rates and conditions on your behalf, at no additional cost to you. Market rates are ultimately set by Owners and operators, but our reputation often allows us to negotiate terms that may not be readily available to clients approaching Owners on their own.

• Funds handled by Boatcrowd. Where you pay charter funds to Boatcrowd, we receive those funds solely for onward transmission to the Stakeholder and/or Owner in accordance with the payment schedule set out in the charter agreement, less the commission payable to Boatcrowd. We handle such funds with due care in our capacity as Broker.
• Funds paid directly to the Stakeholder or Owner. In other cases, you pay the Stakeholder, central agent or Owner directly under the signed charter agreement, and Boatcrowd invoices its commission separately. The handling of those funds is governed by the charter agreement.
• Payment processing. Card and bank payments are processed by third-party payment and banking providers. We do not store full card numbers on our own systems.
• Charter fees, taxes and extras. The charter price may exclude items such as fuel and running costs (typically covered by the APA), VAT and other taxes, port and marina fees, delivery/redelivery fees and gratuities. These are set out in, and governed by, the charter agreement.

A3. Cancellations, changes and disputes relating to a charter

Cancellation, postponement, refund and change rights for a charter are governed exclusively by the relevant charter agreement. Boatcrowd does not set or guarantee those terms, and any refund of charter funds is made in accordance with the charter agreement's payment and cancellation provisions. Any dispute concerning the charter itself (for example, the condition of the vessel or the conduct of the charter) is a matter between the Charterer and the Owner/operator under the charter agreement; Boatcrowd will, where reasonable, assist in facilitating communication between the parties.

Part B

Yacht Sales & Purchase

This Part applies, in addition to the General Terms, when you enquire about buying a yacht, make an offer, or list a yacht for sale through Boatcrowd.

B1. Our role in a yacht sale

Boatcrowd acts as a yacht sales broker. Depending on the yacht, we act in one of two capacities, and we will tell you which applies:

• Central agent for the seller. Where a yacht is listed directly with Boatcrowd, we act as the seller's central (listing) agent under a written central agency or listing agreement with the seller. We market the yacht, present offers to the seller and co-ordinate the sale.
• Buyer's / introducing broker. Where a yacht is listed with another central agent, Boatcrowd acts as the buyer's or introducing broker, introduces you to the yacht, and co-operates ("co-brokers") with the listing central agent on the sale.

Where Boatcrowd acts for both the buyer and the seller in the same transaction, we will disclose this to both parties. In every case Boatcrowd acts as broker and, where agreed, stakeholder; we are never the seller or buyer of the yacht as principal, and we do not own the yachts listed on the Site. The seller remains responsible for the yacht, its condition, title and documentation; the buyer remains responsible for its own due diligence and decisions.

B2. Listings, particulars and asking prices

Details of the yachts offered for sale on the Site are given in good faith and are believed to be correct, but they are not contractual and do not form part of any offer or contract. Every yacht is offered subject to prior sale, price change or withdrawal without notice. Specification, condition, inventory, history and title are confirmed only by inspection, survey and the written sale contract. In particular:

• Asking prices are quoted in the seller's chosen currency; conversions into other currencies are indicative only and change with exchange rates. "Price on request" means the seller has chosen not to publish a figure.
• VAT, tax and import status shown on a listing is as stated by the seller and must be confirmed in writing before an offer is made. Whether tax is payable, and where, depends on the yacht, her flag, the buyer and the place of delivery.
• Yachts in build are described by reference to the specification the builder has committed to; the year shown is the expected delivery year, and the purchase is governed by the builder's or seller's build contract.
• Charter income figures, running-cost estimates and market statistics shown on the Site are historical or indicative and are not a forecast or guarantee.

Boatcrowd makes no representation about the price a yacht will achieve or the time it will take to sell.

B3. How a purchase is contracted

Nothing on the Site, and no enquiry, viewing, discussion or offer made through Boatcrowd, creates a binding contract for the sale of a yacht. A sale is concluded only by a separate written sale contract signed by the seller and the buyer, typically an industry-standard form such as the MYBA Memorandum of Agreement (MOA) or, in the United States and other regions, the equivalent purchase and sale agreement, or, for new builds, the builder's contract. Where a sale is structured as a transfer of shares in the owning company, it will be governed by a share purchase agreement.

That sale contract, not these Terms of Use, sets out the terms of your purchase or sale, including the price, the deposit, the timetable, sea trial and survey rights, the conditions on which the yacht may be accepted or rejected, closing and delivery, title and encumbrances, the parties' warranties and remedies, the stakeholder's duties, and commission. The broker(s) and stakeholder are typically named in the contract. Read it carefully, take independent legal advice, and sign only when you are satisfied. Once signed, its terms prevail over these Terms in respect of that transaction.

B4. Viewing, sea trial, survey and due diligence

Buyers are strongly advised to inspect the yacht, take a sea trial and commission an independent condition survey by a surveyor of their own choosing before becoming committed under the sale contract. Survey and sea-trial costs, and any lifting or haul-out costs, are for the buyer's account unless the contract provides otherwise. Boatcrowd does not carry out, and is not responsible for, surveys, inspections, title searches, registry checks, tax analysis or verification of encumbrances; we can introduce surveyors, lawyers, registries, financiers and insurers, but they are engaged by, and answerable to, you. You are responsible for satisfying yourself as to the yacht's condition, specification, title, flag, class, tax status and suitability, and for obtaining your own legal, tax and financial advice.

B5. Deposits, stakeholder and closing funds

Under industry-standard sale contracts, the buyer's deposit and closing funds are paid not to the seller but to a stakeholder named in the contract, who holds them in a segregated client or escrow account and releases them only in accordance with the contract's terms.

• Boatcrowd as stakeholder. Where the parties agree, Boatcrowd (or an entity designated by it) may act as stakeholder. In that case we hold the funds in a segregated client/escrow account solely for the purposes of the transaction, release them strictly in accordance with the sale contract or the parties' joint written instructions (or a court order), and perform the stakeholder's duties as set out in that contract. We handle such funds with due care and are not liable beyond the proper performance of those duties; in particular, we are not liable for the seller's or buyer's performance of the sale contract.
• Third-party stakeholder. Alternatively, a law firm, specialist escrow provider or the listing central agent may act as stakeholder, in which case the handling of funds is governed by the sale contract and that stakeholder's terms.
• Payment security. We will tell you who the proposed stakeholder is at the outset and will confirm account details with you through a second channel before any funds move. Never act on changed bank details received by email alone. Boatcrowd will not be liable for losses arising from payments made to an account other than one verified with you in that way.

Refund of a deposit, and any forfeiture or deduction from it, are governed exclusively by the sale contract.

B6. Commission and fees

• Seller's commission. In a sale, brokerage commission is payable by the seller under the central agency agreement and/or the sale contract, and is typically deducted from the sale proceeds at closing by the stakeholder. Where more than one broker is involved, the commission is shared between them by agreement. The rate and terms are set out in the seller's agreement with Boatcrowd.
• Buyers. In most transactions the buyer pays no fee to Boatcrowd. In certain cases, for example, a dedicated buyer's-broker mandate, a search or consultancy retainer, or a new-build project, a fee may be payable by the buyer. Any such fee will be agreed with you in writing in advance and will not be charged without your agreement.
• Acting for both sides. Where Boatcrowd is entitled to commission from the seller and a fee from the buyer in the same transaction, we will disclose this to both parties before the sale contract is signed.
• Third-party costs. Survey, sea-trial, legal, registration, tax, insurance, delivery, berthing and similar costs are not included in our commission and are for the account of the party who incurs them or as allocated in the sale contract.

B7. Sellers: listing your yacht with Boatcrowd

If you list a yacht for sale with Boatcrowd, the listing is governed by a separate written central agency or listing agreement between you and Boatcrowd, which sets out the term, exclusivity, asking price, commission and the parties' obligations. In addition, by submitting information about a yacht through the Site or to our team, you confirm and agree that:

1. you are the owner of the yacht or are duly authorised by the owner to offer it for sale and to instruct Boatcrowd;
2. the information, specifications, documents and images you supply are accurate, complete and not misleading to the best of your knowledge, and you will promptly tell us of any change (including any sale, withdrawal, damage, encumbrance or change of price) so the listing can be updated;
3. you own or have the right to use any images and materials you supply, and you grant Boatcrowd a non-exclusive, royalty-free licence to use them to market the yacht on the Site and, where agreed, through co-brokers and partner platforms;
4. nothing about you or your yacht will be published until you have approved the listing, and we will treat your identity and the fact of the sale with discretion, subject to the disclosures required to conclude a sale and by law;
5. you will make the yacht available for viewing, sea trial and survey as agreed, and will keep her insured, maintained and lawfully registered while listed; and
6. Boatcrowd makes no representation or guarantee about the price the yacht will achieve or the time it will take to sell.

B8. Introductions and non-circumvention

Where Boatcrowd introduces a buyer to a yacht, or a yacht to a buyer, the parties agree not to circumvent Boatcrowd by concluding a sale, charter or other transaction in respect of that yacht directly or through another broker in order to avoid the commission that would otherwise be payable, and Boatcrowd's entitlement to commission on such a transaction is as set out in the central agency agreement and/or the sale contract (which, under industry-standard forms, typically extends to a sale or charter concluded within a defined period after the introduction).

B9. Disputes relating to a sale

Any dispute between the buyer and the seller concerning the yacht, the sale contract or its performance is a matter between those parties under that contract. Where Boatcrowd acts as stakeholder, we will hold the funds in accordance with the sale contract and release them only on the parties' joint written instructions, in accordance with the contract's mechanism, or as directed by a court or tribunal of competent jurisdiction, and we may seek directions or interplead where the parties are in dispute. Boatcrowd will, where reasonable, assist in facilitating communication between the parties.