You may choose to pay either a Refundable Security Deposit or the Damage / Loss Waiver.

a. The Refundable Security Deposit is held against the yachts insurance excess. If there is no damage or loss to the yacht or to its equipment, we will refund the Security Deposit immediately at the end of the charter. However, if there is any damage and/or loss, the deposit or an appropriate proportion will be returned, if applicable, as soon as possible after full assessment of the cost of rectifying such damage or loss has been made.

The Refundable Security Deposit covers:
• Loss of or damage to the vessel, its tender and third party liability.
• Loss of or damage to the equipment listed in the inventory and given to the charterer at check-in.
• Costs incurred if the vessel is returned in an unacceptably dirty condition.
• Cost of returning the boat to the pre-arranged harbor, if the charterer fails to do so by the scheduled date and time.
• Cost of refuelling if the boat is returned without refilled tanks.

b . The Damage Loss Waiver. This is a fixed amount depending on the type and size of boat and is not refunded in any circumstances. With payment of the Damage Loss Waiver, the charterer is relieved of all liability for loss or damage to the yacht, with the following exceptions:
• Loss or damage caused by gross negligence by the charterer and/or his party.
• Loss or damage caused to the boat or its equipment by the charterer or any member of his/her party while under the influence of alcohol or narcotics.
• Cost of returning the boat to the pre-arranged harbour, if the charterer fails to do so by the scheduled date and time.
• Cost of refuelling if the boat is returned without refilled tanks.

The payment of either the Refundable Security Deposit, or the Damage Loss Waiver, is designed to cover only one incident of a substantial nature at any one time.  In case of loss or damage to equipment of significant value such as outboard engine or dinghy, the charterer will have the right to an immediate replacement whilst on charter, provided that the charterer pays a new Refundable Security Deposit immediately upon receipt of the relevant replacement or in respect of the repair.

It is important to note that for both kinds of Security Deposits, the charterer will be held liable for the total amount of any loss or damage caused by gross negligence or willful misuse by the charterer or by anyone in his party which is in excess of the Security Deposit amount.