Latest News

INTRODUCTION

Purchasing a yacht in Europe, whether a motorboat or a sailing boat, is a significant investment. To ensure a smooth, transparent, and professionally managed transaction, many buyers and sellers use the internationally recognised MYBA Sale & Purchase Agreement (SPA).

WHAT IS THE MYBA CONTRACT?

The MYBA SPA is a legal framework created by the Mediterranean Yacht Brokers Association. It is widely used in professional yacht sales across Europe and offers:

• Clear legal protection for both buyer and seller
• Standardised procedures for inspection, trial, and closing
• Defined responsibilities and timelines
• Use of an independent escrow agent for deposit and funds

It is suitable for: – Large or small yachts – Leisure or professionally managed vessels – Cross-border European transactions

STEP-BY-STEP GUIDE TO BUYING A YACHT

1. Negotiation & Contract Signature

• Price and main terms agreed
• MYBA SPA signed by both parties
• 10% deposit paid into escrow

2. Inspection

• Buyer views the yacht in person
• Visual check of general condition and inventory

3. Sea Trial

• Conducted at seller’s expense unless agreed otherwise 
• Buyer observes engine performance and handling
• Lasts 1–4 hours

4. Survey

• Buyer appoints a qualified marine surveyor
• Full check of hull, systems, rigging, engines
• May include haul-out and diagnostics
• Used to confirm technical condition

5. Acceptance or Rejection

• Buyer decides to accept or reject the yacht based on findings
• If accepted, the sale proceeds
• If rejected, deposit is returned per contract terms

6. Closing

• Final payment is made
• Ownership transferred via Bill of Sale
• All documents handed over (registration, VAT, class, etc.)
• Yacht delivered to the buyer

BENEFITS OF USING THE MYBA CONTRACT

• Legal protection for both sides
• Transparent process from start to finish
• Minimised risk with defined exit clauses
• Used by professionals across the European yacht market

CONCLUSION

Whether buying a sailing boat or a motor yacht, using the MYBA Sale & Purchase Agreement ensures a secure and clearly defined process. From negotiation through to delivery, each step is managed with professionalism, legal clarity, and peace of mind.

Work with an experienced yacht broker who understands the MYBA framework and can support you every step of the way.

For more information or to begin your yacht purchase journey, contact your trusted yacht advisor today