General Terms of Business

I. Charterer’s duties

The Charterer undertakes towards the Charteree


1. that it shall furnish the chartered yacht on the agreed date
following full payment of the charter price in a seaworthy and
adequate condition of the technics and maintenance (note:
maintenance data, in particular, the inflatable life raft, emergency
signals)


2. that it shall furnish the onboard documentation (important:
updated sea charts) that detail the ocean territory and sailing
times permitted and covered by the insurance policies


3. that it shall reimburse down time if the Charteree is no
longer able to use the yacht due to a defect (in whole or in
part). There shall be no reimbursement if the Charteree is himself
responsible for the down time (e.g. due to damage caused
by him).

4. that it shall be available for the Charteree during the charter
period by telephone or radio at least during the usual office
time. The manual for the charter-yacht has to be on board in
English or in the language of the charteree.

II. Sailing licences, certificates of qualification

Prior to handover of the chartered yacht, the Charterer may
verify the ability of the responsible skipper to skipper the boat.
To this end, it may already demand proof of previous sailing
experience prior to conclusion of the Agreement and request
that it be presented with the sailing licences or certificates of
qualification necessary for skippering the yacht in the agreed
boat class and sailing area. In the event of patent doubts concerning
the qualification for safe skippering of the chartered
yacht and crew, the
Charterer may appoint or arrange for a skipper for the Charteree
at the Charteree’s expense. Should this be impossible
or should the Charteree not agree thereto, the Charterer may
refuse to hand over the yacht; in this event, the charter price
paid shall be reimbursed at the originally agreed charter price
only in the event of a successful alternative charter. If an alternative
charter is only possible at a lower price, the Charterer
shall be entitled to the relevant difference.

III. Performance disruptions (CharterAgreement)

1) Charteree’s rights

a) Should the Charterer fail to furnish the chartered yacht no
later than 4 hours following the contractually agreed time, the
Charteree may reduce the charter price on a pro rata basis for
the down time per day commenced. The same shall also apply
for necessary repairs, irrespective of the Charterer’s fault.
The Charteree may also, at his choice, rescind the Agreement
against full reimbursement of payments made if more than
24 hours have elapsed since the agreed handover time; in the
event of a charter period of at least 10 days, this deadline shall
extend to 48 hours. The Charterer may provide a reasonable
substitute yacht that is objectively of the same level and that
also meets the Charteree’s needs. Should it already be clear
before commencement of the charter that the boat will not
be available or may not be handed over at the time agreed,
the Charteree may rescind the Agreement even prior to commencement
of the charter.

b) Should the chartered yacht, its equipment or accessories
deviate in a negative manner from the contractually agreed
condition (defects), the Charteree may always demand an
adaquate reduction of the charter price, but may rescind the
Agreement only if, regarded objectively, the chartered yacht’s
seaworthiness is impaired or correct navigation using common
navigation methods is made significantly more difficult and the
risks to the safety of the boat and crew increase significantly
as a result.

c) Should the Charterer not be responsible for the performance
disruption, there shall be no further claims against the Charterer
with regard to indemnification of the Charteree for consequential
damage (e.g. travel/accommodation costs); however,
the Charterer hereby assigns to the Charteree any compensatory
damages claims against third parties. The Charterer shall
without undue delay notify the Charteree of any such events
and possible consequences in detail and in an appropriate
manner. The Charteree shall assert price reductions or rescind
the Agreement by way of unilateral declaration to the Charterer
and provide relevant grounds therefor.

2) Cancellation

Should the Charteree rescind the charter
agreement, the agreed cancellation costs shall be incurred.
Should the Charteree be unable to set out on the turn, he shall
notify the Charterer thereof in a binding manner without undue
delay in writing or by fax, in which respect, the time of receipt
of the notice by the Charterer shall govern. Should there be an
alternative charter at the same conditions, the Charteree shall
be reimbursed his payments made to such time less a processing
fee of EUR
150. The Charteree may provide a suitable substitute charteree
who assumes the Agreement only with the agreement or
written consent of the Charterer. In the event of an alternative
charter at a reduced price or for a shorter period, the relevant
difference plus the processing fee shall be due and payable.
Should different handover and return ports or foreign ports
be contractually agreed, the compensation shall be increased
by 20% in a given case. The Charterer may rescind the Agreement
in the event of late settlement of the costs incurred and
expressly reserves the right to assert additional compensatory
damages claims for non-performance of the Agreement. In all
other cases, the Charterer shall be entitled to the contractually
agreed charter price. Taking out of charter cancellation insurance
is therefore expressly recommended.

3) Charterer’s Rights:

Should the boat not be returned no later
than 2 hours after the time contractually agreed therefor, the
Charterer may demand from the Charteree pro rata ongoing
payment of the charter price for each day begun. The Charteree
shall warrant for punctual return. In this respect, he
shall from the outset take into account local wind and weather
conditions, include weather-related problems, in his plans and
keep the yacht in sufficient proximity to the place of return. In
the event of fault or unilateral actions, the Charterer may demand
compensatory damages. This shall not apply if timely return
is not possible due to dangerous weather/sea conditions
(sudden deterioration) within the meaning of a risk limitation.

Should the Charteree leave the chartered yacht at a location
other than the agreed place of return, he shall bear the costs
of return to water or land if he is at fault. The Charterer shall
be notified without undue delay in all cases. In all cases, the
Charteree may prove that no or lesser damage occurred.

IV. Assumption of the chartered yacht

The Charteree shall assume the yacht at his own responsibility.
The Charterer or its appointed representative shall furnish the
Charteree the chartered yacht ready for sailing and in an otherwise
perfect condition, cleaned internally and externally, with
attached gas canister (and reserve canister), with a full tank of
petrol with a full replacement fuel canister. The boat’s condition,
all technical functions (in particular, sail, lights and motor)
and the completeness of accessory and inventory shall be
thoroughly inspected using an equipment list and a checklist
by both Contracting Parties during the familiarisation procedure.
The Charterer warrants that the yacht and its equipment
meet the requirements of the relevant statutes and regulations
in the agreed charter shipping route. The seaworthiness of the
chartered yacht and the equipment shall then be confirmed
by the parties in a binding manner prior to handover by way of
signature. After such time, no objections may successfully be
made. This shall not apply if and to the extent that there were
latent defects upon handover, even if the Charterer is not at
fault in this respect. The Charteree may refuse to take possession
of the yacht only if seaworthiness has been reduced to a
significant degree, and not in the event of immaterial deviations
or defects.

V. Charteree’s duties

The Charteree shall have the following obligations towards the
Charterer:

1. all crew members must be designated by no later than 4
weeks prior to commencement of the charter (preparation of a
crew list).

2. the boat must already be made available at the agreed place
of return 1-2 hours before expiry of the Agreement for check
out.

3. the agreed charter term shall not be unilaterally extended
without consultation with the Charterer.

4. the yacht shall be kept in sufficient proximity to the return
port in the last 24 hours prior to conclusion of the charter in
order to ensure timely arrival in the event of adverse conditions
(poor weather, strong winds etc.). Storms shall not affect the
duty to return the boat punctually, except in the case of force
majeure. The Charterer must be informed without undue delay
in the event of foreseeable late return.

5. the Charterer must be notified without undue delay if the
turn must be ended at a location other than the return port. In
this event, the Charteree shall be responsible for caring for the
boat or having it cared for by sufficiently qualified persons until
the Charterer is able to take possession of the boat. The charter
shall end only upon taking of possession, and the Charteree
shall bear any resultant costs.

6. the chartered yacht and equipment shall be treated with
care and in accordance with the rules of due and proper seamanship.

7. the Charteree shall familiarise himself prior to commencement
of the turn with the technical and all other systems of
the yacht, comply with the instructions located on board and
inform himself on the particularities of the shipping route (currents,
changed water levels in the event of strong winds, down
winds, wind tunnel effects etc.)

8. perform rotational control and maintenance measures, particularly
verifying the oil level and coolant level of the motor on
a daily basis, check bilge on a daily basis and, where applicable,
perform maintenance.

9. keep a log book in which the records on weather reports, all
damage discovered on the yacht and equipment, groundings
and other special events (ropes in the propeller etc.) must be
entered

10. if and to the extent present, conscientiously keep a radio
book and, where applicable, a customs and an inventory, departure
and arrivals log.

11. report any grounding on return and, in the event of suspected
damage to the chartered yacht, immediately head towards
the next port and arrange for an examination by a diver and,
following consultation with the Charterer and at its instruction,
arrange for craning or dry-dock.

12. pay attention to special wind and weather conditions, and
to take particular care during night travel.

13. only to enter and leave port under motor, but to travel
under motor only if and as long as necessary (and in no event
under sail commencing with 10 degrees heeling!).

14. to come aboard the yacht only with appropriate, clean
boating shoes whose colour does not rub off.

15. to give towing assistance only in an emergency, to have the
chartered yacht towed only in an emergency and to use own
ropes/lines, to attach lines (belegen) only to clamps, winches
or the foot of the mast, and not to make any agreements concerning
towing and recovery costs, unless the assisting party
otherwise refuses its aid.

16. to comply with the statutory provisions of countries in
which the Charteree stays, passes through or is a guest, and to
enquire in advance concerning any necessary licenses or travel
permits

17. always to duly and properly pass the boat through port and
customs authorities and duly pay any port charges incurred.

18. to notify the nearest police station without undue delay of
any theft of the yacht or its accessories

19. not to furnish or sub-lease the chartered yacht to third
parties.

20. not to allow on board more persons than permitted or
agreed (crew) or any animals

21. not to make any modifications to the boat and equipment.

22. It is not allowed without written consent by the charterer:
- to bring along any undeclared goods subject to custom duties
or dangerous goods or substances.
- to participate in regattas
-to exit from protected ports in the event of wind forces to
constantly 7 Bft and higher
-to use the yacht for training purposes, transport for a fee, etc.

23. The Charterer may restrict the shipping route in the event
of unsafe/uncertain navigation conditions or prohibit night
travel. The routes specified in Section IV. of the Agreement
may be left only with the Charterer’s express consent. The
Charteree and the skipper and crew shall be responsible for
sailing the yacht and shall be liable to the Charterer or insurer
for any damage resulting from abuse of the required rules of
conduct. In the context of this Agreement, the crew members

Page 2 of 4


shall be deemed vicarious agents of the Charteree/skipper.

VI. Repossession of the chartered yacht

The Charteree shall hand over the chartered yacht to the
Charterer or its appointed representatives ready for sailing in a
stowed condition according to the checklist, cleaned internally
and externally, with attached gas canister (plus reserve
canister) and with a full tank of petrol (plus replacement fuel
canister). The Charterer may replace material that has been
consumed and not replenished (e.g. fuel) at the Charteree’s
expense and set a flat fee for the costs, and may arrange for
cleaning at the Charteree’s expense, if agreed. Cleaning may
be contractually agreed against a surcharge. The Charteree
shall bring the chartered yacht to the mooring in a timely manner
(no less than 1-2 hours prior to the handover time) such
that detailed checkout and cleaning is possible. Both parties
shall jointly inspect the boat’s condition and the completeness
of the equipment. The Charteree shall notify the Charterer
even in the event of suspicion of damage to the yacht and shall
immediately report any lost, damaged or no longer functional
equipment upon return. The Charteree and Charterer shall
prepare a list of defects and losses and shall then use this
and the checklist to prepare a protocol, which shall be binding
upon execution by both parties. Should the Charterer refuse
to prepare an acceptance protocol, the yacht shall be deemed
returned free and clear of defects. After this time, objections
may no longer be successfully made; this shall not apply if and
to the extent that there were latent defects upon repossession,
for which the Charteree is responsible as a result of wilful or
grossly negligent conduct. In particular, the Charterer may not
retain the bond for damage subsequently discovered. The type,
scope and level of damage that may and shall be rectified only
at a later stage and, where applicable, following further use of
the chartered yacht, shall be documented in detail and shall be
binding to both parties.

VII. Damage (to the chartered yacht)

The Charteree shall notify the Charterer without undue delay
of any consequential damage, conduct obligations, liability
damage, collisions, accidents, disabling, operating breakdowns,
seizure of the yacht or other events. The Charteree and
the Charterer must always be available for instructions and
questions. Damage based on normal wear and tear or material
fatigue may be rectified by the Charteree up to an amount
of EUR 150 without consultation and the relevant expenses
shall be reimbursed by the Charterer upon presentation of
receipts. The Charteree shall inform the Charterer of expenses
that exceed this amount (except in emergencies or in cases of
impending danger), shall document and monitor such expenses
and, if necessary, shall make the initial financial outlay. Exchanged
parts shall be kept. The Charteree shall undertake any
and all actions that reduce the damage and its consequences
(e.g. breakdown). Should damage be unable to be rectified onsite,
the Charteree may be obliged – following demand by the
Charterer – to return early (possibly 24 hours prior to transfer
of possession) if this is justifiable and reasonable under the
circumstances. Should the Charterer be responsible for the
damage, the charter price shall be reimbursed on a pro rata
basis for each day commenced. Should the Charterer not be
responsible for the breakdown, any additional compensatory
damages claims on the part of the Charteree shall be excluded.
The Charteree/Skipper/Crew shall bear up to an amount
equivalent to his bond the costs for rectification of defects or
repair of material damage on the chartered yacht or equipment.
Damage exceeding this amount shall be covered by the
hull underwriter, unless the skipper and/or crew act willfully
or in gross negligence or breach the provisions of the Charter
Agreement, and these have a causal connection with the
damage event that occurred. This shall not apply to damage
resulting from wear and tear (e.g. opening of seams on sails) or
damage for which the skipper and his crew was not at fault.

VIII. Other liability of the Charteree

The Charteree shall be liable for any and all damage culpably
caused by him or his crew to third parties or the chartered
yacht, its equipment or accessories, in particular, for damage
attributable to incorrect use or defective maintenance (if and
to the extent this is a duty of the Charteree) of the generators
on board. In the event of willful or grossly negligent conduct,
the Charteree shall also be liable for claims asserted by the
hull underwriter (recourse). If and to the extent that he is at
fault, the Charteree shall also be liable for any and all consequential
and economic loss (e.g. in the event of seizure)
according to the legal regulations of the country concerned.
Should the Charterer provide a professional skipper, he shall
be responsible for sailing the yacht and shall be liable for damage
caused by him, but not for damage (jointly) caused by the
guests. In the event of wilful or grossly negligent conduct on
the part of the Charteree or his crew for which the Charterer
is made liable by a third party without being (jointly) at fault
in any manner, the Charteree shall indemnify the Charterer
against any and all consequences under private and criminal
law, any and all costs and any legal prosecution, domestically
and abroad. Where there is more than one Charteree, these
shall be jointly and severally liable. The Charteree shall be fully
liable for damage that has a causal connection with misrepresentations
concerning his ability to sail the boat.

IX. Charterer’s liability

The Charterer shall itself be liable under the Charter Agreement
for loss or damage to the property of the Charteree or
the crew or for accidents only if it has acted wilfully or negligently,
but not for sovereign decrees, force majeure etc. The
Charterer shall be liable for damage caused by imprecision,
changes or errors in the nautical materials provided such as
sea charts, handbooks, compass, radio direction finders etc.
only if it has not expressly notified the Charteree or responsible
skipper upon transfer of possession of the yacht of this
possibility and of his joint duty to inspect same. However,
compensatory damages claims based on liability for damage
based upon injury to life, limb or health due to a wilful or negligent
breach of duty and for other damage based on a wilful or
grossly negligent breach of duty by the Charterer shall remain
unaffected by any and all agreements.

X. Insurance (chartered yacht)

Hull insurance is in place for the chartered yacht for property
damage to the boat and equipment and flat liability insurance
without any excess for personal injury and property damage up
to the level specified in Item X of the charter-contract. Personal
injury as a result of accidents on board, damage to items
brought onto the boat by the skipper and crew and damage caused by wilful or grossly negligent conduct shall not be covered
by such insurance, meaning that, generally speaking, the
Charteree rather than the Charterer shall be liable therefor in
the event of fault. Taking out of hull insurance shall not result
in any liability indemnity of the Charteree by the Charterer
for damage that the insurer does not assume due to willful
conduct, gross negligence or abuse of the provisions of the
Charter Agreement (e.g. deviating from the agreed shipping
route) or with respect to which the hull underwriter may itself
claim damages. The chartering shall take place according to
the legal provisions in place in the charter shipping route.

XI. Bond (provisions, particularities)

Unless agreed otherwise, the Charteree shall deposit upon
transfer of possession onsite a bond pursuant to Item X of the
charter-contract. The bond shall be deposited in cash or by
credit card. He shall be liable for damages per charter-cruise
up to a maximum equivalent to this amount exclusively for
property damage to the chartered yacht and its accessories,
lost equipment and theft for which he or his crew have been
found to be at fault; this shall not apply to any decrease in
value as a result of normal wear and tear. In the event of force
majeure and theft, this shall apply only if and to the extent that
the risk has been culpably increased (e.g. going out during a
storm warning). The bond shall be payable in cash or by credit
card upon transfer of possession of the yacht or in advance by
electronic transfer and shall be due for immediate reimbursement
upon repossession of the yacht if the charter has taken
place without any damage. If repairs may or should be performed
only at a later time and if it is foreseeable based on the
assessment of the level of the damage that the expense will be
less than half of the amount deposited, then at least half shall
be immediately due for reimbursement.

XII. Other agreements, miscellaneous, notices

1) Price list, deviations, modifications In the event of doubt or
uncertainties, the prices pursuant to the respective applicable
price list of the Charterer shall apply. In the event that taxes,
fees or duties included in the charter price are increased or
reduced by operation of law without the parties having any
influence thereon, the Charterer and the Charteree hereby
declare that they agree to a corresponding adjustment of the
Agreement.


2) Differing charter agreements/second agreements to
be executed onsite Due to the provisions applicable in the
Charterer’s country, it may be that the Charteree must have
a charter agreement on board drafted in the language of the
guest country.


3) Legal categorisation / liability of the parties (agent/Charterer/
organiser): Should the Charter
Agreement be concluded via a charter agency, such charter
agency shall act as agent between the Charteree and Charterer.
The brokering agency shall be liable only in the context of
the duties and responsibility of an agent under the contractual
relationship in place with the Charteree. In this Agreement and
in any future contractual modifications and unilateral declarations
by the Charteree to the Charterer, the agent shall act
as authorised representative in the name and for the account
of the respective Charterer and shall be authorised to collect
receivables.
XIII. Final provisions (applicable law, severability
etc.)
The Charteree and Charterer declare in agreement with the
agent that any further agreement executed onsite between
the Charterer and Charteree shall have no effect for or against
the agent as far as its responsibility in relation to specific use
of the chartered yacht is concerned. Oral commitments or
ancillary agreements shall be applicable for both parties only
following written confirmation. Should individual provisions of
this Agreement be void, invalid or of no legal effect, the validity
of the remainder of the Agreement shall remain unaffected
thereby.