Terms & Conditions

BOOKING PROCEDURES...
In order to confirm a charter, a broker will secure a deposit of 50% total charter fee along with a signed charter contract.  The charter broker will deduct the standard 15% commission and forward the net deposit to Nicholson to be held in a client escrow account until the time of the charter.  The balance is due to Nicholson 30 days prior to the start of the charter.  The net deposit is paid to the owner on commencement of the charter and the balance upon completion.

Should the charterer cancel a charter, the standard industry procedure is that charter moneys are refunded to the client only if the charter dates are re-booked.   If the dates are partially re-booked the charter deposit is refunded on a pro-rata basis.  If the charter is not re-booked the owner is paid the charter deposit less commissions.   If the yacht must ever cancel or otherwise default on a charter, the commission on the canceled charter is considered an earned fee and is owed to the charter broker by the yacht, as stated in the charter contract.

 
Nicholson Yachts • 2 Coddington Wharf • Newport, RI 02840
p. 401.849.0344 • f. 401.849.9018 • newport@nicholsonyachts.com