Contents
What a security deposit is
A security deposit is held against damage, breaches of terms or unpaid charges. It is not the same as the charter rate or cleaning fee.
| Term | What to check |
|---|---|
| Deposit | Amount, hold method and release |
| Excess | Amount that may remain your responsibility |
| Deposit insurance | Cover, exclusions and claims process |
| Handover report | Photos, video and signatures |
How to take over the yacht
Inspect the hull, deck, propeller, anchor gear, engine, electronics and domestic systems with the base representative. Record existing damage in photos and video before departure.
How a deposit is held
An operator may place a hold on a bank card or accept another form of security. Confirm the exact amount, currency, cardholder requirement, inspection timing and the process for notifying you of any retention.
A card hold and a final charge are different. The release time may depend on both the operator and the issuing bank.
What insurance may exclude
Deposit insurance does not automatically cover every event. Terms can distinguish damage, loss of equipment, breach of contract, improper use, restricted sailing areas and late return.
Request the policy name, covered risks, exclusions, excess and the documents required for a claim before paying.
If damage occurs
Secure people and the yacht first. Then contact the operator using the contract contact details and follow its instructions. Keep photos, video, messages, location details and any handover documents.
Do not arrange repairs or conceal an incident without the base's agreement. At return, ask for a written record of the inspection and any proposed retention.
Checklist before payment
- Confirm the deposit amount and currency
- Check the card limit
- Read insurance cover and exclusions
- Ask when the hold is released
- Keep the contract and handover report
- Confirm who will notify you about any retention.
- Check how damage is recorded at return.
Practical conclusion
Before payment, request the contract, insurance terms and inspection process. If an incident occurs, secure safety first, then contact the operator and keep every document. Helm by TrimTeam can help compare options, but use the specific operator documents for the final decision.
How to read terms before payment
Do not compare only the deposit amount. Request the hold method, currency, excess, insurance exclusions, release timing and claims process. Keep the quotation, contract and insurance terms together.
Common mistakes
Skipping photos, treating insurance as complete protection, and leaving questions about the propeller, anchor or equipment until later. Record existing damage in the report before departure.
How the final inspection works
At return, the base representative compares the yacht with the handover report. Ask for any observations immediately and request written confirmation of the inspection result.
Documents to keep
Keep the quotation, contract, insurance terms, handover and return reports, photos and correspondence. They help clarify any proposed retention.
Sources