TERMS

1.Charter party as in the contract that will follow.

Validity        2.The signature of this Agreement by the Owner and/or his Broker becomes valid and binds the Owner to his obligations hereinafter mentioned only on condition that the Owner will actually receive the sums of the payments indicated as total charter freight as follows: 50% 7 days after the confirmation of the charter and rest 50% within 30 days before the charter.  

3.The Owner agrees :

Delivery                           a) To fit out the Yacht and to hand her to the Charterer, without crew, clean, ready for sea, with all the gear and equipment indicated in the owners/brokers official offer, inventory list in proper running and seaworthy condition at the agreed on the 1st page embarkation port.

Insurance                         b) To insure the Yacht and her equipment, as per the Greek Law, against fire, marine and collision risks, third party damage and against any loss or damage in excess of the agreed security deposit, as mentioned on the 1st page. The charterer shall therefore be relieved of any and all liability which is covered by the said Policy, provided that such loss or damage is not caused or contributed to by any act of cross negligence or wilful default on his part. The Owner shall not be under any liability for the loss or damage to the personal property of or for any injury to the Charterer or any person on board with his permission.

Delayed Delivery             c) To employ every reasonable effort to ensure delivery of the Yacht on the date and at the port mentioned on the 1st page hereof, but if for any cause whatsoever the yacht shall not be available, the Charterer shall have the right of choice of one of the following possibilities:

I.Provided that the following charter commitment of the Yacht allows it and that the Owner agrees, to prolong the period of charter by the same length of time by which the delivery has been delayed.

1. To leave the date of termination unchanged as in Clause 1 hereof and to be refunded by the Owner with an amount proportional to the time by which delivery was delayed at the rate corresponding to the total charter fees in Clause 1 hereof.

Excess Delay                    III. If the delay of delivery exceeds one fourth (1/4) of the total charter time, to cancel this Agreement and be refunded by the owner with the total amount paid for this charter. In any of the events mentioned in this Clause, neither party shall be liable to pay to the other any other compensation for any loss or damage resulting from the curtailment or the cancellation of this Agreement.

1. To accept a similar boat suggested by the owner/broker.
2. The charterer agrees :

Re-Delivery                      a) To re-deliver the Yacht to the owner at the agreed date, time and port, as mentioned on 1st page, cleaned-up, together with all her equipment in the same good condition

(Return) of the                 as she was at take-over. If he shall for any reason, weather conditions included, fail to deliver the Yacht at the aforesaid date, time and port, to pay to the Owner demurrage

Yacht and Delays             at the rate of the charter price per day of this Agreement increased by fifty percent (50%), for every day of fractional part of a day thereafter until delivery has been effected.

If he leaves the Yacht at any place other than the port designated in this Clause, to pay to the Owner all expenses involved in transferring the yacht to the port of redelivery and pro-rata demurrage as above for the number of days required for this transfer, as well as for any loss or damage not covered by the insurance policy, which may occur on or to the yacht until she has been taken over again by the Owner.

Refundable deposit        b) To leave on Refundable deposit and as guarantee with the owner on taking over the Yacht the amount agreed on the 1st page, to meet in whole or in part any claim by the Owner in respect of any loss or damage to the Yacht and/or her equipment not recoverable under the policy of insurance as in Clause 3 (b)hereof and for any claim by the Owner in respect of the provisions of Clause 4 (a) above. The aforesaid deposit shall be refunded to the Charterer, subject to the provisions above, after inspection of

Restrictions in the           the yacht, her gear and her inventory by the Owner.

use of yacht                    c) Not to use the Yacht for racing or for towing other boat, except in an emergency, or generally for any purpose other than that of private pleasure of the Charterer and his

Composition of               party which should include not less than ( 1 ) qualified Skipper and (1) experienced crew member, but not more than the passengers, according to the boat's official documents

Charterers Party &          in all at sea, or to accommodate aboard any person other than those shown on the crew list nor to take the Yacht or permit her to be taken outside the area of the Greek

Cruise Limits.                  seas nor to sublet the Yacht without the written consent of the owner.

1. d) Not to allow any person on board to commit any act contrary to the customs laws of Greece or of any country or contrary to the laws pertaining to fishing or under water

Observance of                 fishing nor to seek and/or take possession of objects of archeological nature or value and that in case any such act is committed this agreement shall thereupon terminate,

Customs&Diving Laws    but without prejudice to any rights of the Owner and that the Charterer shall carry alone any resulting responsibilities and he shall answer alone to the appropriate Authorities.

Agreement for                e) To take any possible preventive measure and precaution to avoid to bring the Yacht in any condition in which the Yacht will need to be towed to any point by another boat,

Towing the Yacht.           but should such a necessity arise, inspire of the Charterer's efforts, to notify immediately the owner and if such contact is impossible, to negotiate and agree with the captain of the other boat on the price to be paid, before allowing the yacht to be towed.

Restrictions in                 f) Not to leave a port or anchorage if the wind force is or is predicted to be over six (6) of the Beaufort Scale or if the harbor Authorities have imposed a prohibition of sailing

Leaving Port.                   or while the yacht has unrepaired damage or any of her vital parts such as engine, sails, rig, bilge pump, anchoring gear, navigation lights, compass, safety equipment, etc. are not in good working condition or without sufficient reserves of fuel or in general, when weather conditions or the state of the yacht or its crew or a combination of them concerning the safety of the yacht and her crew is doubtful.

Restrictions in the           g) When necessary, to promptly reduce canvas and not to allow the yacht to be found sailing under an amount of canvas greater than the one insuring comfortable sailing

Use of Canvas.                without excessive strains and stresses on the rigging and the sails, not to sail the yacht in any area not sufficiently covered by the charts at his disposal or without having

Restrictions in                 previously studied the charts of the area and other printed aids on board thoroughly, not to sail the yacht at night without all navigation lights functioning or without sufficient

Navigation.                      watch on deck.

Yacht Log                         h) To keep the yacht's log book up to date, noting each day the port of call, the state of the yacht and its equipment, any change in the composition of the crew when at sea, regularly, the times positions, weather conditions, sail plan and hours of engine operation.

Itinerary                           i) To plan and to carry out the yacht's itinerary in such a manner as to reach the port of call farthest away from the point at which the yacht must be returned to the owner (Turn-Around Point) within the first one third (1/3) of the charter period and that two days prior to the termination of the charter the yacht's port of call shall lie at a distance

Reports of yachts            not greater than forty (40) N.M. from the point at which the yacht is to be returned to the owner.

position and State          j) To report by telephone to the Owner at reasonable intervals the position and state of the yacht and of her passengers, as well as in the event of any damage to the yacht.

Information.                    k) To study and acquire a working knowledge of any printed matter pertaining the proper handling of the yacht and to the conditions in the cruising area which may be made available to him by the owner.

IT IS HEREBY FURTHER AGREED by and between the parties hereto :

Charterer's Sailing           5. This agreement is entered into on the basis of the sailing competence of the Charterer or his skipper, verified by official certification. In the event of ommision or,

Qualifications.                 misinterpretation the Owner shall be entitled to terminate this Agreement forthwith and retain the Charter fees.

Test of Sailing                  6. The owner (or his representatives) may require the Charterer and his crew to demonstrate their competence in handling and navigating the yacht safely by actually

Competence of               operating the yacht at sea with the owner (or his representative) aboard and should the Charterer and/or his crew fail to satisfy the owner in this respect, the owner may

Charterer and his            terminate this Agreement as stated in Clause 5 above or place aboard the yacht a skipper, if one acceptable by both the owner and the Charterer is available, at the expense

crew.                               of the Charterer, for as many days as the owner will consider necessary for the safety of the yacht and her passengers and any time required for this test of the Charterer's competence and skipper will be part of the agreed Charter period.

Take-Over of the             7. The delivery of the yacht to the Charterer will be made at the commencement of the charter period as designated on 1st page. The time required to demonstrate the

Yacht & Time                   yacht to the Charterer and to familiarise him with her shall be part of the agreed charter time. The free use of the yacht will be granted to the Charterer after he has signed

required for it.                the take-over form.

Acceptance of the           8. Before signing the aforesaid form, the Charterer shall have the right to inspect the yacht, her gear and her inventory thoroughly to ascertain that all are available in good

Yacht/ Charterer's          working condition, except as may be noted thereon, but the signature of the take-over form by the Charterer shall be deemed to imply acceptance of the yacht which

Responsibility                  thereafter will be in the Charterer's full responsibility and the Charterer shall have no right to claim in any loss of item or expense occasioned by any accident or breakdown

during Charter Time       or failure of any part of the yacht. In the unlikely event, due to normal wear, of mechanical/electrical or other serious failure, the owner/broker has the right to repair the

yacht, in 36 hours, from the Charterers notice to the owner/broker, without any compensation.

Running Expenses           9. After take-over, expenditures for port-dues, water, fuels, oils and any other stores required, as well as the repair of any damage or failure that may occur while the yacht

Repair of Damages.        is in the Charterer's responsibility and which are not the result of normal and natural wear shall be made by the Charterer at his expense, provided that the previously obtained the consent of the Owner for the technical suitability of the repair to be made. In the case of repairs of damages or failures resulting clearly from normal and natural wear, the Charterer shall previously obtain the owner's consent with regard to the cost and technical suitability of these repairs and the Charterer shall collect the pertinent receipts against which he shall be refunded by the owner at the end of the charter.

Ascertainment of            10. If any accident or damage is caused by the yacht, the Charterer shall request from the nearest port Authority to ascertain the damage or accident and the circumstances

Damages.                        in which it has been caused and to make a written record and statement about it and he shall notify the owner at the same time.

Cancellation of                11. In the event of cancellation of the charter by the Charterer, for any reason, except as mentioned in Clause 3 (c) (iii), after signing this Agreement, the following cancellation

Premature                       policy will apply depending on the time-interval between the booking confirmation and the cancellation date:

Termination                                         a. Policy of "Dossier's expenses" (3% of the booking price or minimum 150 EUR) will be applied for bookings cancelled after signing the contract and in time period up to 90 days prior to boat embarkation.

1. Cancellation fee of 30% of the total charter fee, for bookings cancelled within a period of 90-60 days prior to boat embarkation
2. Cancellation fee of 50% of the total charter fee, for bookings cancelled within a period of 60-30 days prior to boat embarkation.
3. Cancellation fee of 100% of the total fee, for bookings cancelled in a period less than 30 days prior to boat embarkation.

In case that the yacht under cancellation is re-chartered to another Charterer for the same period and under the same conditions only the dossier expenses will be charged. In the event that the Charterer should elect to terminate the charter and deliver the yacht prior to the date designated in this Agreement, the Owner shall not be liable to the return of any proportional part of the hire money.

Total Loss of Yacht.         12. Should the yacht become an actual or constructive total loss before or during the charter period, this Agreement shall be deemed to be at an end the Charterer shall recover from the owner all charter monies paid in advance to the owner only in case the loss has occurred before the charter period, or during the charter period, provided that the Charterer or his crew were not responsible for the loss.

Special Provisions.          13. The special provisions if any, set out in the Schedule hereto are fully accepted and form part of this agreement.

Brokers.                           14. The brokers act in good faith on behalf of both owner and Charterer, but contract as brokers only and in no way incur any liability for any acts, matters or things done, committed, omitted or suffered by either party, except for the responsibilities provided by the pertinent legislation of Greece.

Arbitration of                  15. In the event of any dispute arising between the parties hereto with respect to this Agreement or anything herein contained the same shall be referred to two Arbitrators

Disputes.                         in Greece one to be appointed by each party, whose decision shall be final or to an Umpire to be appointed by such Arbitrators, if and when they shall disagree, the decision in such event of the Umpire to be final.