General
Conditions of Transactions – Conditions
of Charter

1.) Prior to the take-over, the lessee is obliged to convince
himself of the unobjectionable state of the yacht and of her equipment
and to examine the
inventory. Possible complaints have to be reported to the lessor prior to starting
the voyage. They have to be recorded in the check list in writing. The check
list is to be signed by the lessee and the lessor. By these signatures the
lessee obtains the full power of disposal over the yacht.

Hidden defects existing at the time of take-over or defects occurring after
the handing over of the yacht and her equipment do not entitle the lessee to
demand back the charter fee unless the defects were known to the lessor or
unknown due to gross negligence.

2.) The skipper is responsible for obeying
all legal regulation and safety requirements – also for his crew members.
The lessee has the obligation to
keep the log carefully and to comply with the regulations of the region of
voyage. He has to present the list of his crew members to the nearest harbour
master’s office. The fees for this, the port charges and all additional
costs are for the account of the lessee.

3.) The skipper must be in the possession
of the Master’s Certificate required for the yacht (at least Official
Master’s
Certificate for Sport Boats with
proof of experience or equivalent certificate) and he must be suitably qualified
for commanding the yacht. The lessee binds himself to take aboard only the
number of persons authorized for the yacht. He binds himself to use the yacht
only for sport shipping within the limits of the valid shipping and Customs
laws, excluding all kinds of trade, professional fishing, hiring out, transport,
races or similar activities. Towing other craft is restricted to cases of
emergency. Sublease or hiring out the yacht is prohibited. Even in case of
an innocent
violation of these prohibitions, the lessee relieves the lessor of all his
responsibility in the latter’s capacity of owner and in all other capacities,
and the lessee is personally liable for all legal proceedings, criminal prosecution,
fines, and confiscation. In case of seizure or confiscation, the lessee is
liable for full compensation of damages to the lessor.

4.) If damages due to
normal wear occur during a voyage, which render reasonable an immediate repair,
then the lessee is entitled to have these repairs executed,
if their value does not exceed EUR 100.--. These expenses are reimbursed
upon presentation of the invoice. For all other repairs exceeding the amount
of
EUR 100.--, the lessee is obliged to consult the lessor or his representative
and to obtain his approval prior to placing an order for repair.

5.) In case
of gross average (collision, fire, broken mast etc.) the lessee is bound
to immediately inform the lessor and to request his instructions.
He is obliged to have a record drawn up by the appropriate authority. In
case of theft of the yacht or of a piece of equipment, the lessee is obliged
to
report the case to the police.

6.) Should the lessee fail to fulfil these formalities,
then he can be made responsible to pay the total expenses caused by the average
or the theft.

7.)
If a damage to be repaired does not impede the continuation of the voyage,
then the lessee is obliged to return at least 24 hours prior to the end
of the charter in order to make possible the repair and not to delay
the following
charter. If the damage is not due the lessee’s fault, then the proportion
of the charter fee for this day of premature return is reimbursed to him
in money.
The non-observance of this agreement is equal to a late return. Besides,
a loss of use during the period of charter does not substantiate a claim
for reimbursement of the entire or a part of the charter fee.

8.) Towing: If the
lessee takes a tow of the yacht by towage service then – irrespective
of the reasons - the lessee has to bear himself the full cost
of towage.

9.) The period of use agreed upon is inclusive of the time
for handing over and take-over of the yacht. The boat is handed over to
the lessee with
full
tanks. When returning the yacht, the lessee will hand it over in the same
state. The condition of the ship and the completeness of her equipment is checked
by means of a check list and confirmed by signature. All consumed fuels (fuels,
oil, gas) are for the account of the lessee.

10.) After the end of the period
of use, the lessee hands over the boat to the lessor for verification of
her state and completeness and of the full ability
to function. Parts lost, damaged or no longer functioning are to be reported
to the lessor immediately upon return. They are directly negotiated and charged
against the deposit sum. The lessee binds himself to hand over the ship free
of his personal effects and in an unobjectionable state.

11.) Upon return of
the yacht free of defects, the deposit sum is reimbursed immediately. In
case of an event giving rise to an insurance claim, the deposit
sum will be reimbursed upon adjustment by the insurance company.

12.) If – irrespective
of the reasons – the lessee is not in a position to take up the use
at the time agreed upon, then he will immediately inform the
lessor. If a replacement crew able to fulfil the conditions of the contract
can be made available, then all payment made – reduced by a handling
fee of 20 % of the charter fee - will be reimbursed to the withdrawer. If
no crew
can be made available, then the lessor is entitled to a sum corresponding
to
100% of the charter fee. It is recommended to the lessee to insure himself
against loss by resigning from a journey.

13.) The lessor binds himself to make
available the boat at the time agreed upon with the specified equipment and
in an unobjectionable state ready for
sailing. Should the lessor be unable to make available the yacht mentioned
above within 48 hours after the time agreed upon due to a damage occurred
during the previous charter or for any other reason for which he cannot be
held responsible,
then the lessor has the right to reimburse the full charter fee to the lessee
or to make available a yacht of the same standard. More extensive claims
are excluded.

14.) The contract comes into force by the receipt of the
down payment and the return of signed copy of this agreement.

15.) The return to the port of departure
at the time agreed upon is mandatory. The lessee has to report his return
to the lessor. In case of late return he
is liable for compensation of any damages – irrespective of the reason
of his late return. Adverse weather conditions do not release the lessee
from
his
obligation to return the yacht in time. The minimum compensation of damage
is twice the daily charter fee. For the last 24 hours of the charter it
is recommended to the lessee to hold the yacht in a position from which
the
port of departure can be easily reached.

16.) If any of the stipulations of this
contract should be invalid, then the remainder of the stipulations remains
nonetheless valid. A stipulation no longer
applicable will be replaced by a legally valid agreement coming closest to
the assumed will of the parties at the time of conclusion of contract. Oral
agreements are invalid, alterations or amendments must be drawn up in writing.