Terms and Conditions

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Summary

This Guarantee is our promise to reimburse you if you lose part or all of your Security
Deposit due to Damage caused to a vessel booked through us. Customers should refer
to the full Yacht Charter Security Deposit Guarantee Terms and Conditions, which are
available on our website, and will be included with your yacht charter confirmation email.

Yacht Charter Period As per your Charter Agreement

Who is Protected? Any skipper that holds hold an
internationally recognised Boating Licence
such as an ASA, RYA, or ICC certification.
Cover is also extended to other individuals
to sail the vessel provided they are under
the control, supervision, and direction of a
qualified skipper

Charter Security Deposit Guarantee maximum payable:
The Security Deposit on the Rental
Agreement
Up to €3,000

Territorial Limitations:
Worldwide excluding Afghanistan, Central African Republic, Chechnya, Democratic Republic
of Congo, Egypt, Iraq, West Bank, Gaza and Palestinian Territories, Libya, Nigeria, North
Korea, Region of Crimea, Somalia, South Sudan, Sudan, Syria, and Yemen.

Important Information

This Guarantee can be amended or cancelled free of charge when Tubber B.V is advised
48 hours prior to the reserved yacht rental start date.

How to make a Reimbursement Application

All applications should be notified via https://yachtrefunds.com/ where you will be able to
submit your application and all supporting documents online.

If you have any questions regarding your booking, or these Terms and Conditions,
please call the Tubber B.V phone number on your booking confirmation, or email:
[email protected]

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Yacht Charter Security Deposit Guarantee Program

At Tubber B.V We are dedicated to providing you with a high-quality service. This
Guarantee is our promise to reimburse you if you lose part or all of your Security Deposit
due to Damage caused to a vessel booked through us. This Guarantee will form the
contract between you and us and is subject to the terms and conditions detailed below.

The Period of Guarantee will start from the time you take legal control of the Rental Vessel
and will cease:

1. at the time you return the Rental Vessel to the Charter Company who assumes
   control of the vessel; or
2. on the end date specified of your Charter Agreement,

whichever occurs first.

When and Where We Will Pay You

We will pay you up to the €3,000, for the partial or total loss of the Security Deposit under
the terms of the Charter Agreement for any incident or series of incidents under a single
Charter Agreement in respect of accidental Damage to the Rental Vessel including:

• Damage to the Rental Vessel caused by the Covered Skipper.
• Damage to the equipment attached to the Rental Vessel which includes, but
not limited to the Dinghy (including outboard motor), gelcoat, sails, and
winches.
• Loss or Damage resulting from fire, theft or vandalism;
• Towing costs resulting from the Damage to the Rental Vessel:
• Costs associated with wreck removal / disposal

Provided that you are held responsible for the Damage as declared in the Charter Agreement
and are liable for the cost of the Damage, to be retained from your Security Deposit.

Valid Charter Agreements

This Guarantee must have been purchased and have commenced prior to the start of the
Charter Agreement for which you wish cover to apply. We will not accept any liability for
Damage occurring under a Charter Agreement that commenced prior to the start of this
Guarantee or ends outside of the Period of Guarantee.

Maximum Charter Period

This Guarantee covers you for a single Charter Agreement during the Period of Guarantee.
The maximum period of a Charter Agreement should not exceed 28 continuous days for
charters in the Mediterranean Sea and 14 continuous days for charters in all other locations.

Limit of Guarantee

Our Guarantee shall not exceed €3,000 in total in respect of each and every reimbursement
during the Period of Guarantee.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

To Qualify for Cover

• You must be the person named as the Lead Charterer on any Charter Agreement
• Cover is extended to other individuals to sail the charter vessel provided they are under
the control, supervision, and direction of a qualified skipper.
• You and all Covered Skippers must hold an internationally recognised Boating
Licence such as an ASA, RYA or ICC certification. Additionally, in certain countries
such as Croatia, you are also formally required to hold a radio (VHF) license.
• You must not be a permanent resident of a country subject to sanction, prohibition or
restriction under United Nations’ resolutions or the trade or economic sanctions, laws
or regulations of the European Union, United Kingdom or United States of America.
• Cover is only available for Rental Vessels with a length of less than 55 feet.
• The Charter Agreement must be on a Bareboat, Bareboat with Skipper, or
Flotilla basis. Cover is not applicable in the case of crewed charters.
• The Rental Vessel must be chartered on for personal and recreational use only

What We Will Not Pay For

Under this Guarantee, We will not pay for any of the following:

1. Any loss of or Damage to the Rental Vessel caused deliberately by you.
2. Any costs or charges not directly related to an Incident resulting in Damage to
   the Rental Vessel, including but not limited to, any costs due to mechanical or
   electrical failure of the Rental Vessel.
3. Any Damage caused as a result of Gross Negligence including but not limited
   to the sailing of the vessel without the necessary authorisation, supervision or
   licence or the sailing of the vessel whilst under the influence of alcohol, narcotics
   or intoxicants.
4. Your country of residence is subject to sanction, prohibition or restriction under
   United Nations’ resolutions or the trade or economic sanctions, laws or
   regulations of the European Union, United Kingdom or United States of America.
5. You and any other Covered Skipper do not qualify for cover – as defined on page
   3 of this document.
6. Any Charter Agreement for a period longer than 28 continuous days in the
   Mediterranean Sea and 14 continuous days for charters in all other locations
   or which falls outside of the Period Of Guarantee.
7. Any Rental of a motorboat, motor cruiser, cabin cruiser or RIB.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

1. Damage arising as a result of wilfully self-inflicted injury or illness, alcoholism or
   the use of alcohol or drugs (other than drugs taken in accordance with treatment
   prescribed and directed by a registered medical practitioner, (but not for the
   treatment of drug addiction).
2. Damage arising from transporting contraband or illegal trade or from the
   operation of the Rental Vessel in violation of the terms of the Charter
   Agreement.
   10.Theft of the Rental Vessel;
   a) While left unattended at any time on a trailer unless an Anti-Theft Device
   protects the trailer; or
   b) By fraud, trick or deception against you; or
   c) By persons to whom the Rental Vessel is entrusted
3. Any expenses assumed, waived or paid by the Charter Company / Agency or
   its insurer.
4. Damage to any vessel which is not the Rental Vessel hired by you under the
   Charter Agreement. Any Damage, you cause to a third-party vessel, is not
   covered.
5. Damage caused by wear and tear, carriage of animals, gradual deterioration, any
   form of rot, woodworm, crustaceans, fungal infestation or any other insect or
   vermin.
6. Your claim results in any way from confiscation by public authorities, war, warlike
   operations, revolution, riots, strike, or any similar event, terrorism and/or nuclear
   risk.
   • ‘nuclear risk’, as defined as being from ionizing radiation or contamination
   by radioactivity from any nuclear fuel or from any nuclear waste from the
   combustion of nuclear fuel; or the radioactive, toxic, explosive or other
   hazardous properties of any explosive nuclear assembly or component
   thereof.
   • ‘terrorism’ defined as any act of any person or organization involving,
   causing or threatening harm or putting the public or any section of the public
   in fear if it is likely that the purpose is of a political, religious, ideological (of
   an intellectual or rational nature) or similar nature.
7. Blocking of the on board toilet
8. Damage caused by reblocking of the sludge tank.
9. Loss of, theft, and / or Damage to the Rental Vessel’s fenders.
   18.Losses arising from the Rental Vessel being stranded, sunk, swamped,
   immersed, or breaking adrift, whilst inadequately moored.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

1. The Rental Vessel is being sailed by persons who are not adequately qualified as
   defined on page 3 and/or are not under the control, supervision, and direction of a
   Covered Skipper.
2. The length of the Rental Vessel exceeds 55 feet.
3. Any additional cleaning, hire of bedding, berthing, port or fuel fees charged to
   the Lead Charterer by the yacht Charter Company including where these
   costs are settled by deduction from the Security Deposit.
4. Damage where the Charter Company has provided a professional crew to sail
   the yacht. This exclusion does not apply in the case of a Bareboat with Skipper
   charter where the charterer maintains liability for any losses.
5. Loss of or Damage to the Rental Vessel caused by the use of an incorrect type
   of fuel, lack of lubricant or from the use of substandard or contaminated fuel,
   lubricant or parts.
6. Damage is the result of sailing in an area for which the Rental Vessel
   has not been approved i.e., sailing in an area not included in the Charter
   Agreement.
7. You have been specifically alerted to the risk of possible Damage to the
   Rental Vessel, (for example, warned of high water or the presence of
   animals that may cause Damage).
8. Damage caused as a result of the involvement in racing, contests or
   Regattas, including in the preparation for them.
9. Damage caused as a result of the Rental Vessel being used when in an
   unseaworthy condition.
10. Any financial loss (e.g., seizure of the Rental Vessel due to violation of
    laws, late return of the Rental Vessel).
11. Damage caused as a result of the Rental Vessel being used in High
    Winds.

Our Conditions

The following conditions listed below, apply to each and every part of the Guarantee. If
you do not comply with these conditions, We may not be able to pay your claim.

1. A claim shall not be made payable unless the Rental Vessel has been chartered from
   a licenced charter company.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

1. A claim shall not be made payable unless you have complied with all requirements of
   the yacht Charter Agreement and of the chartered yachts insurance policy or any
   other insurance policy applicable to you under which you are claiming in respect of
   loss or theft of or Damage to the Rental Vessel.
2. You must keep to the terms and conditions of this Guarantee. Take all reasonable
   steps to avoid, prevent Damage, injury or loss and reduce or avoid incurring
   unnecessary costs.
3. In deciding to accept this Guarantee and in setting the terms and premium, We have
   relied on the information you have given us. You must take care when answering any
   questions We ask by ensuring that all information provided is accurate and complete.

If We establish that you deliberately or recklessly provided us with false or
misleading information, We will treat the Guarantee as if it never existed and
decline all claims.

If We establish that you carelessly provided us with false or misleading information,
it could adversely affect your Guarantee and any claim. For example, We may:

• Treat the Guarantee as if it had never existed and refuse to pay all claims and
return the premium paid. We will only do this if We provided you with a
Guarantee which We would not otherwise have offered;
• Amend the terms of your Guarantee. We may apply these amended terms as if
they were already in place if a claim has been adversely impacted by your
carelessness;
• Reduce the amount We pay on a claim in the proportion the premium you have
paid bears to the premium We would have charged you; or
• Cancel your Guarantee in accordance with the cancellation rights above.

We will write to you if we:

• Intend to treat your Guarantee as if it never existed; or
• Need to amend the terms of your Guarantee.

If you become aware that information you have given us is inaccurate, you must inform
us as soon as practicable.

1. You must tell us about any claims as soon as reasonably possible. You must provide us
   with all the information and help We may need or ask for and at your own expense,
   provide full details to support your claim, (such as photographs, invoices, receipts,
   insurance valuations, details of any other parties involved or witnesses etc.). Where you
   have received medical treatment and/or been detained in hospital, you will need to
   provide documentary evidence (e.g. medical report, letter from the hospital etc.) Where
   required to support your claim.
2. You must report any loss, theft, attempted theft, malicious Damage to the police as
   soon as reasonably possible and not exceeding 48 hours of discovery.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

1. You must not admit liability on our behalf or to give any representations or other
   undertakings binding upon us except with our written consent. We shall be entitled to the
   absolute conduct, control and settlement of all proceedings arising out of or in connection
   with claims in your name or the name of any Covered Skippers.
2. We may at our own expense take proceedings in your name or the name of the Covered
   Skipper to recover compensation from any third party in respect of any indemnity
   provided under this Guarantee and any amounts so recovered shall belong to us. You
   and/or the Covered Skipper must provide all reasonable assistance to us. You must:

• Advise us should you be reimbursed any amount from your yacht Charter
Company / Agency or a third party that relates to a claim that you have submitted
to us.

1. Fraudulent acts

If you make a fraudulent claim under this Guarantee, we:

• Are not liable to pay the claim; and
• May recover from you any sums paid by us to you in respect of the claim; and
• May by notice to you treat the contract as having been terminated with effect from
the time of the fraudulent act.

If We exercise our right under this clause:

• We will not be liable to you in respect of a relevant event occurring after the
time of the fraudulent act. A relevant event is whatever gives rise to our
liability under the Guarantee contract (such as the occurrence of a loss, the
making of a claim, or the notification of a potential claim); and
• We need not return any of the premiums paid.

1. If any claim is covered by any other insurance, or would have been covered if this
   Guarantee did not exist, We will:

• Not pay under this Guarantee if a more suitable insurance policy is in force; or
• Only pay our share of the claim even if the other insurer refuses the claim.

1. Contracts (rights of third parties) act 1999

A person who is not a party to this Guarantee has no right under the contracts (rights of
third parties) act 1999 to enforce any term of this Guarantee but this does not affect any
right or remedy of a third party which exists or is available apart from that act.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Reimbursements Procedure

Refund requests should be submitted online at https://yachtrefunds.com/ within sixty (60) days
of the Incident. However, We should point out that the reimbursement programme covers a
list of circumstances in which you may apply for a refund and We are unable to consider any
circumstances that are not listed.

Please note:

All claims must be notified as soon as it is reasonably practical after the event which causes
you to submit a claim.

Late notification of a claim may affect our acceptance of a claim or result in the amount
We pay being reduced.

In the event of a legal liability claim, you must not settle, reject, negotiate, or agree to pay
any claim without our written permission.

Relevant information is likely to include, but not limited to:

1. A copy of the yacht Charter Agreement and your booking confirmation.
2. If the Incident by law requires the attendance of the police, We will require a copy
   of the police report.
3. Itemised Damage Invoice
4. A copy of your credit card statement or other proof of payment showing payment
   of the damages claimed.
5. A copy of your Boating Licence.
6. Photographs of vessel damage, the site of any Accidents or thefts and any
   other photographic evidence which you think might be helpful in assessing
   your claim.
7. Any additional details that may be relevant.

To help us prevent fraudulent claims, We store your personal details on a computer, and
We may transfer them to a centralised system. We keep this information in line with the
conditions of the data protection act.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Governing Law and Disputes Clause

This Guarantee will be governed by Dutch law and you and We agree to submit to the courts
of the Netherlands to determine any dispute arising under or in connection with it.

The terms and conditions of this Guarantee will only be available in English and all
communication relating to this Guarantee will be in English.

How to Make a Complaint

We will do everything possible to ensure that you receive at all times excellent service and
being there when you need us. We hope that you do not have cause to complain, however if
you at any time, are dissatisfied with the service you have received from us and wish to make
a complaint you can by:

Writing: [email protected]

In the event that you remain dissatisfied and wish to make a complaint about this Security
Deposit Guarantee, you can do so at any time by referring the matter to the Compliance
Officer at:

JMM Europe
Harcourt Centre,
Block 4,
Harcourt Road,
Dublin, D02
HW77

Tel: +353 (0) 1 477 3201
E-mail: [email protected]

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Definitions

The following words, expressions or phrases listed below apply to each and every part of
the program and will have the same meaning wherever they appear in this document in
Bold. Additional definitions where they apply to the specific parts of the Guarantee will be
outlined within those sections. Please refer to the relevant parts of the Guarantee for further
details:

Accident means a sudden, unexpected, and specific event, external to the body, which
occurs at an identifiable time and place.

Anti-Theft Device is a lock that is designed to prevent the outboard motor from being
removed from the transom of the vessel.

Baggage and/or Personal Effects means luggage, clothing, Personal Effects and
other articles normally worn, used or carried during any Trip/s and which belong to You
(or for which You are legally responsible).

Bareboat means where a Yacht is hired without a crew.

Bareboat with Skipper means where a Yacht is hired with a Professional Skipper but
the Charterer still pays their Security Deposit and maintains legal liability for any
Damage caused to the Rental Vessel

Boating Licence means the necessary official licence for operating the Vessel in
accordance with national provisions.

Bodily Injury means an identifiable physical injury to a person’s body which is caused
directly and solely by an Accident, is not intentionally self-inflicted and does not result from
sickness or disease.

Cash means banknotes, currency notes, coins, and vouchers.

Charter Agreement means the contract signed by the Lead Charterer and the Charter
Company for the hire of a Rental Vessel.

Charter Company or Agency means a company that rents charter Yachts for short periods
of time, generally ranging from a few hours to a few weeks.

Covered Skipper means You and any other skippers that qualify for cover under this
Guarantee to steer the vessel as outlined under page 3 of this document.

Damage means Damage to the Rental Vessel from external causes including fire,
vandalism, Accident, or theft.

Dinghies/Tenders means a boat that it is exclusively used in connection with the Rental
Vessel. This connection exists e.g., when used as a means of transport from the Vessel to

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

land and back or for the purposes of swimming and leisure activities. Any use of the Dinghy
involves it being sailed away from the Rental Vessel and ending its Trip back at the Vessel.
A Dinghy can only be something that fits in the type and size of the Rental Vessel and
can be transported in a seamanlike manner on the Rental Vessel (davits, rigged on deck,
etc.)

Europe means all European countries to the West of the Ural Mountains including the United
Kingdom, the Channel Islands, Isle of Man, Republic of Ireland, Iceland, islands in the
Mediterranean, Morocco, Tunisia, Turkey, Canary Islands, Madeira, and the Azores, but not
including the Region of Crimea.

Flotilla means a charter where you sail a Yacht as part of a fleet of vessels, each
operating independently with their own crew and skipper, along with a lead Yacht that
is professionally crewed and knows the region well.

Gross Negligence occurs if a person substantially fails to exercise the necessary
care required according to the circumstances as a whole, fails to make the most
simple considerations and /or fails to take into account anything that should have
been obvious to any reasonable person in the specific circumstances.

Guarantee Limit means the maximum We will pay in any one Period of Guarantee
regardless of the number of claims You make.

Guarantee means the combination of the Program wording and Charter Agreement
showing all of the parts of the cover.

Guarantee-holder means the person who has paid for this Guarantee and is shown on the
Charter Agreement.

High Winds means weather conditions at Level 7 or higher on the Beaufort Scale.

Incident means an Accident involving Your Rental Vessel which results in Damage from
external causes such as a scratch, chip or dent caused by an Accident that You are
responsible for under the terms of Your Charter Agreement.

Insurer means Lloyd’s Insurance Company S.A.for Your Security Deposit Guarantee
Program.

Lead Named/Main Charterer means person(s) named as the hirer on the Charter
Agreement.

Mediterranean Sea shall include the Alboran Sea, Balearic Sea, Ligurian Sea, Tyrrhenian
Sea, Ionian Sea, Adriatic Sea, Aegean Sea, and the Sea of Marmara but does not include the
Black Sea or the Levantine Sea.

Period of Guarantee means the period shown in Your Charter Agreemant for which We
have agreed to cover You and for which You have paid the premiums.

Tubber B.V has procured an insurance policy covering our financial exposure to this Security Deposit
Guarantee through Lloyd’s Insurance Company S.A.
V.3 2025

Professional Skipper means a skipper that has been provided by the Charter Company /
Agency to sail the Rental Vessel for the Charter Period. They are not a member of the
charter party.

Regattas means Yacht races. Regattas are sailing races held on a set route or at set points.
Motorboat races are competitive events held for motorised boat sports.

Rental Vessel means the single sailing monohull, or Catamaran hired under a short-term
contract of no more than 28 continuous days for charters in the Mediterranean Sea and 14
continuous days for charters in all other locations days from a Charter Company or
Agency. This Guarantee will not cover any Rental Vessel outside of our definition of a
Yacht as on page 11 of this Guarantee or a Rental Vessel as outlined under Exclusion 18
on page 4 of this Guarantee.

Security Deposit means the amount that You are responsible for paying in the event of any
Damage to the Rental Vessel, as confirmed in Your Charter Agreement.

Total Loss occurs when the Rental Vessel is irreparably damaged or totally destroyed i.e.,
physically destroyed or lost. Total Loss occurs if, for example, the Rental Vessel is
destroyed in a fire or permanently lost as a result of theft.

Trip/s means the period of a single Charter Agreement in respect of a single Rental Vessel
which is collected and rented from a Charter Company or Agency for the period stated on
the Charter Agreement.

We/Us/Our means Tubber B.V as the introducer and Lloyd’s Insurance Company S.A. as
the Insurer.

Wreck removal/ disposal means technical measures for moving the remains of the damaged
Vessel for the purposes of subsequent disposal.

Yacht means a sailing monohull or catamaran, under this program the term Yacht does not
include any motorboat, motor cruiser, cabin cruiser or RIB.

You/Your means the person who took out this Guarantee and is named as the Lead
Charterer on the Charter Agreement.