Blue Ray Charters.

Terms And Conditions - Blue Ray

1. Charter Payment

1. The company Blue Ray Charters shall hire the yacht for the charter period.

2. The advance payement shall be paid to the company on the signing of this agreement. The Balance Payment and the Security Deposit shall be paid to the company no later than 3 weeks (8 weeks to overseas charters) prior to the commencement of the charter. All monies payable hereunder are deemed due upon acceptance of the booking.

2. Security Deposit

1. The company may retain and apply the Security Deposit in reduction or extinction of:

(a) any liability of the Charterer to the Company, however the same may arise: and/or

(b) the cost of repairing any loss or damage to the yacht, her equipment or furnishings which occurs during the Charter Period and which is for any reason not recoverable under the yacht's insurance, however the same may arise: and/or

(c) any liability arising from damage caused to third party property.

Providing that such retention shall be without prejudice to the right of the Company to recover any unsatisfied balance of such liability or cost from the Charterer.

2. Subject as foresaid, the Security Deposit or any balance remaining shall be returned to the Charterer within 14 days after the redelivery of the yacht.

3. Company Obligations

1. The Company shall deliver the Yacht to the Charterer or his appointed representative in good and seaworthy condition complying with the provisions of the law of the flag of the yacht. In the event of any loss of time occasioned as a result of the Company's failure to comply with the provisions of this clause, the Charterers damages shall be limited to the charter fee and the Company shall have no liability for consequential losses of whatsoever nature.

2. The Company will use their best endevours to deliver the yacht to the Charterer at the agreed time and place. If for any reason the yacht shall not be delivered, a pro-rata refund will be made to the Charterer for each complete 12 hours delay. If such delay exceeds 25% of the total charter period, the Charterer shall be at liberty to treat the Charter as determined and the Company shall thereupon return all sums paid. In this event the Company shall not be liable to pay the Charterer any other compensation for any loss or damage of whatsoever nature resulting from the curtailment or cancellation of this Charter.

4. Insurance

1. The yacht and her equipment shall be insured on the terms of the Institute Yacht Clauses or on terms similar thereto for her full value with third party damage cover of no less than £500,000 subject to a policy deductable no greater than the security deposit.

2. Not withstanding the provisions of clause 4.1, the Charterer shall indemnify the Company in respect of any loss of or damage to the yacht or her equipment or any other expenses or liability arising out of any act or omission of the Charterer, his servants or agents or any member of his party which is not for any reason covered by the yachts insurance.

3. The Company shall have no liability for death or personal injury suffered by the Charterer, his servants, agents or any member of his party save in the event that same is caused by his willful default.

4. The Charterer will not not take the yacht outside the cruising limits nor do any other act which may violate the yacht's insurance or prejudice his right to claim thereunder.

5. Charterer's Obligations

1. The Charterer shall observe all regulation of Customs, Harbour or other Authorities.

2. The Charterer shall not allow any animals onboard the yacht without written consent of the Company.

3. The Charterer shall ensure the yacht remains afloat at all times. If the yacht does ground (for whatever reason) the Charterer is legally bound to notify the Company.

4. At the end of the Charter period the Charterer shall redeliver the yach to the Company at her port of delivery, deamed in the condition as upon delivery (resonable wear and tear expected) and with her inventory complete. If the Charterer shall fail to redeliver the yacht at the time and place agreed he shall liable to a sum equal to twice the pro-rata daily charter fee for every day or part thereof by which redelivery is delayed. The Charterer's obligation under this agreement shall continue until eventual redelivery.

6. General

1. The Company or its agent shall have the right to accompany the Charterer for trials prior to delivery. In the event that the Company is not satisfied to the ability of the Charterer to safetly handle the yacht the Company shall be at liberty to terminate this agreement.

2. The Company shall have the right to restrict the cruising limits of the Charterer in the light of the experience of the Charterer and the members of his party and/or the actual or anticipated weather conditions.

3. The provisions herein shall exhaustively govern the rights and obligation sof the parties hereto.

4. The agreement is subject to English Law. Any and all differences or disputes of whatsoever nature arising out of this Charter shall be refered to a sole Arbitrator to be appointed by the President for the time being of the Maritime Arbitrators Association. The provisions of the Arbitration Acts 1950 and 1979 and any statutory modification thereof shall apply to any Arbitration.