Are yacht charter deposits refundable?

Yacht charter deposits are refundable only in limited cases: under the standard MYBA and CYBA contracts, the 50% deposit is forfeited when a guest cancels, unless the yacht re-books the same dates. If the owner cancels, or a named storm or government closure makes the charter impossible, the deposit comes back in full. Some brokers can also negotiate a credit toward new dates instead of a loss. Read the cancellation clause before signing. Every contract states exactly what happens, and terms differ between fleets. This clause-by-clause contract guide walks through the fine print. Cancel-for-any-reason travel insurance fills the remaining gap; it typically runs 5 to 10 percent of the charter fee and covers the scenarios the contract does not.