What is the security deposit? Or the damage waiver?
All of SAIL AEGEAN’s yachts are properly covered with hull and third-party liability insurance for charter business. As with any insurance, an excess applies in case of any claim. Therefore, clients are required to leave either (1) a refundable security deposit equivalent to this excess, OR, upon request and for certain yachts, (2) a non-refundable damage waiver with a refundable excess . Either option is for covering any damage or loss caused by the charterer/client during their charter. Consequently, the charterer/clients’ liability is limited to the amount of the security deposit or damage waiver (plus excess), unless the damage or loss is due to their gross negligence or intentional act.
In the case of any damage or loss, the cost of repair or replacement is (1) deducted from the security deposit and the remaining balance is refunded to the charterer/client, or (2) covered by the damage waiver and if the cost is more than the waiver, then it is deducted from the excess amount and any remaining balance is refunded to the client. The charterer/client is not responsible for normal wear and tear.
(1) The refundable security deposit is required at check-in via an online authorisation of the charterer/client’s credit card (AMEX, Visa or Mastercard).
(2) The non-refundable damage waiver can be paid in advance by bank transfer or at check-in via AMEX, Visa, Mastercard or cash. The refundable excess is paid like the refundable security deposit.
The security deposit or damage waiver (plus excess) is required even if a skipper is hired at extra cost.
If you are chartering with a skipper provided by SAIL AEGEAN, the skipper is not responsible for all damages aboard. He is responsible for sailing the yacht and if he accidentally damages the yacht, he will have to pay for the damage himself. However, any damage caused by the charterer/client himself or by his guests aboard is their own responsibility – for example, accidentally blocking the toilet, accidentally burning something or causing a fire whilst cooking, damages under the influence of alcohol, etc.
