Money and the contract
Deposits, payment schedule and cancellation
How much deposit does a yacht charter need and when is the balance due?
The short answer
How much deposit does a yacht charter need and when is the balance due?
The usual pattern on a crewed charter is 50 percent of the base rate on signature of the contract and the remaining 50 percent, plus the full APA, around thirty days before departure. Bareboat operators often take a smaller deposit and settle the balance closer to the date. Cancellation terms are firm: the first payment is normally non-refundable once the yacht is withdrawn from the market, and the balance becomes non-refundable at the point it falls due. Charter cancellation insurance exists and is worth pricing against the deposit rather than assumed to be unnecessary.
The standard schedule
| When | What | Typical amount |
|---|---|---|
| On signature | First instalment of the base rate | 50 percent |
| 30 days before boarding | Balance of the base rate | 50 percent |
| 30 days before boarding | Advance provisioning allowance | 25 to 35 percent of base |
| On board, at the end | Crew gratuity | 10 to 20 percent of base, at your discretion |
| After the charter | APA reconciliation and refund | whatever is unspent |
Why the terms are hard
When you sign, the yacht comes off the market for your dates. In a season that is effectively five months long, a cancelled February week is unlikely to be resold. The operator is not being punitive; the inventory is genuinely perishable.
The dates to line up
- The date your charter balance becomes non-refundable.
- The date your flights become non-refundable.
- The last date your travel insurance will accept a new policy for these dates, which is usually shortly after booking rather than shortly before travel.
Charter cancellation cover is a real product and it is priced as a percentage of the charter. On a fifty thousand dollar week where the whole amount is committed a month out, it is worth at least getting a quote for.
Next
- The MYBA contract and the four clauses that decide who paysWhat should I look for in a yacht charter agreement?
- What a charter week in Phuket really costsHow much does a yacht charter in Phuket actually cost, with everything included?
- From enquiry to boarding: what the process actually looks likeHow does booking a crewed yacht charter work, step by step?
Last checked 6 September 2026. Rates, fees and regulations in this market change every season, so figures on this page are correct as at that date and not afterwards. How the figures are gathered.