Code of Ethics
CYBA members must meet or adhere to the following: (11/08/03)
• It is the duty of All Members to help protect the public against fraud, misrepresentation, or unethical practices within the yacht chartering profession. Members should endeavor to eliminate any practices that could be damaging to the public or to the dignity and integrity of the yacht chartering profession.
• It is the duty of Active and Associate Members to protect a yacht charterer’s interests. This obligation of absolute fidelity to the client’s interest is paramount, but it does not relieve the member from the obligation of dealing fairly with all parties related to the Yacht Charter Party Agreement.
• It is the duty of Active and Associate Members to ensure that all financial obligations and commitments are in writing and express the understanding of all parties. Copies of the Yacht Charter Party Agreement must be placed in the hands of all parties involved at the time the agreement is executed, or as soon thereafter as practicable.
• It is the duty of Active and Associate Members to make every effort possible to ensure that all parties involved in the Yacht Charter Party Agreement adhere to accepted safety, legal and financial standards, as accepted by the yachting industry and this association.
• It is the duty of Active and Associate Members to segregate his/her own funds from all monies being held for other persons. Separate, bank trust-accounts should be used for this purpose.
• It is the duty of Active and Associate Members to be well informed on current market conditions when advising clients.
• It is the duty of Active and Associate Members to be as knowledgeable as possible about the yachts and crews, he/she represents to a client, and the geographic areas under consideration.
• It is the duty of Active and Associate Members to be well informed regarding the legal ramifications of the yachting industry for each geographic area under consideration. This includes, but is not limited to, Coast Guard rules and regulations, federal/state/local laws, cabotage laws, contracts, allowable itineraries, customs/immigration rules and regulations, etc.
• If not a lawyer, a member must not engage in activities that constitute the practice of law. Members should recommend that legal counsel be obtained when tax liability or legal interest of either party to a contract requires it.
• It is the duty of All Members not to disparage the business practice of a competitor, nor volunteer an opinion of a competitor’s transaction.
• It is the duty of All Members not to seek unfair advantage over his fellow members, and to willingly share the lessons of their experience and study.
• It is the duty of All Members to conduct their business so as to avoid controversy with fellow members. In the event of a dispute between members of the Charter Yacht Brokers Association it shall be arbitrated in accordance with CYBA Bylaws and policies.
• When a member is charged with an unethical practice, all pertinent facts should be placed before the Ethics Committee for investigation and judgment.
• When a dispute involves members and non-members, the Charter Yacht Brokers Association may conduct an independent investigation at the request of any interested party.
• It is in the best interests of society, of his/her associates, and of his/her own business, that members will be loyal to the Charter Yacht Brokers Association and will be active in its work.
Condolences
• When notified of a member’s death, or that of a member’s immediate family, CYBA will make a $100.00 donation to a designated charitable organization in the person’s name or send a gift, and immediately send a card to the family. (2020)
• When notified of a member’s debilitating illness or hospitalization, CYBA will send a gift and card with the cost not to exceed $100.00. (2020)
Donations
• A contribution of a minimum of $500.00 will be given each calendar year to the Virgin Islands Search and Rescue Ltd. (VISAR), to help support their BVI activities. (2020)
Dues
• CYBA’s annual dues cover the period from January 1 to December 31 of each year. Notices will be sent to all members in early January and payment must be received by January 31st of the current year (2020). If dues and renewal form are not received by January 31st, the member will be placed on inactive status and will lose all rights of membership until their dues are paid. (2020). Annual Dues for New Members will be prorated according to month of acceptance. (2013)
The annual dues for Active, Associate and Affiliate Members will be $130.00 and a late fee of $50 if paid after the January 31st due date. If a member does not pay their dues for an entire year, he or she will need to re-apply for membership (2019)
• There will be no dues for Honorary and Life Members. (2010)
Membership, Eligibility and Election (2007)
• Membership application to the Charter Yacht Brokers Association is made on an individual basis.
• Application for membership shall be made by completing the online Membership Application Form, submitting sponsorship letters from two or more Active Members in good standing and providing a list of three Central Agents that the Membership Committee can contact for a reference (2020). Said application shall contain a clause binding the applicant in case of election, to conform to the Bylaws, Standing Rules, Code of Ethics, Special Rules and Policies of this Association and shall be accompanied by the membership fees and dues for the fiscal year and delivered to the Officer of Membership. The Officer of Membership will bulletin the applicant’s name to the membership at least one week prior to a meeting of the Board of Directors of this Association. Any member who has an objection to the applicant shall notify the Board of Directors in writing. He/she may then appear at the next regular meeting of the Board of Directors and state his/her reasons for objecting to the applicant becoming a member.
• The Board of Directors, after the objections, if any are presented, must elect or reject the applicant. Election to membership shall be by a “yes” vote by the majority of the Board of Directors.
• In case of election to membership, the Officer of Membership shall issue such new member a Certificate of Membership which shall be signed by the President and/or the Officer of Membership.
• An applicant for Active Membership must furnish documented proof that acting as a Yacht Charter Broker is their primary occupation, that they have been a full-time Yacht Charter Broker for a minimum of four (4) years, and attended at least two (2) recognized shows per year during the last two (should we change this to four) years. The applicant must provide proof of an established business such as articles of incorporation, state/local business license, or state/country business registration and proof of business bank accounts including a separate account for client funds. (2020) They must also provide proof of advertising. (2015)
• An applicant for Associate Membership, must have been a full-time Yacht Charter Broker for a minimum of two (2) years and have attended a minimum of two (2) recognized Charter Shows per year during this timeframe. The applicant must provide proof of an established business such as articles of incorporation, state/local business license, or state/country business registration. The applicant will also provide proof of advertising. (2020)
Associate Members may not use the CYBA logo. Associate members, however, may serve on committees at the sole discretion of the board. Associate members can use a CYBA name tag that is labeled Associate Member. (2020)
• An applicant for Life membership is admitted at the sole discretion of the Board of Directors. (2015)
• Honorary Members are selected and admitted at the sole discretion of the Board of Directors. Candidates may be submitted by any member of the Association.
• All applicants, other than Honorary Members, must pay a one-time non-refundable application fee of $40.00. (2019) Membership dues will not be collected until time of acceptance. (2013)
Active, Associate, Life and Honorary Members must meet or adhere to the following: (2015)
• All Active and Associate Members must endeavor to make use of the Charter Yacht Brokers Association Escrow Account or any other recognized trust account, whenever possible. This is in lieu of any unsecured, individual trust account. (2003)
• All Active, Associate, Life and Honorary Members must agree to abide by CYBA Bylaws, Rules of Order, Special Rules, Standing Rules, and Code of Ethics. (2015)
• Only Active and Life Members may use the CYBA logo. (2015)
• All Active and Associate Members must attend at least two (2) recognized shows per year to maintain their membership. (11/08/03) Charter shows recognized and accepted by the Association shall be determined by the Board of Directors. (2007). The currently recognized shows include MYBA Barcelona, MEDYS Greece, EMMYS Greece, TYBA Turkey, Newport, VIPCA St. Thomas, CYS BVI, the BVI Spring Show, TYBA Thailand, ACYM Antigua, two ECPY Open Houses with 15-20 yachts each, and IYBA Open House/Charter Seminar. (2020).
• If members do not meet boat show requirements in a given year, they must complete and submit the Exception to Boat Show Requirements Form to the Membership Chair. The Chair will request a vote of the Membership Committee and their vote will be final if the exception is granted. If they do not grant the exception, the vote will be brought to the Board of Directors whose vote will be final.
• All members agree to actively serve on Committees, determined by the Board of Directors, when requested. (11/08/03)
• Resignation. Any member in good standing may withdraw from membership, surrendering their Certificate of Membership and paying all dues and charges then due, if any. Such membership shall terminate as of the date of the acceptance of the resignation by the Board of Directors. Any member of the Charter Yacht Brokers Association may resign their membership by informing any member of the Board of Directors by mail or e- mail
If said member wants to become a member again, he or she will need to re-apply for membership. (2019).
• Suspension or Expulsion. For failure to abide by the Bylaws of the Association, or if it appears from a written communication from any member or other person or persons, that the conduct of a member has been prejudicial to the Association or yacht-charter- brokerage profession, the Board of Directors, after citing said member, with seven days notice of hearing, shall have full power to suspend for a period of not more than one year, or expel said member, and he/she shall be and is expelled after being so declared. Any member suspended or expelled shall have the right, after six months from the date of suspension or expulsion, to apply for reinstatement. It shall be the duty of the Officer of Membership to notify in writing each Active Member of the Association in case of such suspension or expulsion.
Special Board Meetings
CYBA Special Board Meetings may be held in a password-protected “Chat Room,” by phone or by video conferencing. (11/08/03)
Voting
Votes for officers and directors, amendments, rules of order, special rules, standing rules, and membership may be taken by mail, e-mail or fax, as directed by The Board. (11/08/03)
