BoatWiki

BoatWiki.com

The Free Boating Encyclopedia

DefinitionsGuidelinesResources
FormsDatabasesBlogsProfiles

Participate TranslateAbout
LinkTermsPrivacyContact

--- WikiTags/Links ---

Coast Guard Bareboat Circular
CYBA - Profile
Attorney Listings - Resource
Skippered Charter - Definition



BoatScope

The nation's premier boat history report with a full compliment of title search resources. Includes eight maritime databases all rolled into one convenient interface. A must-have service for any prospective buyer, marine lender, or maritime professional.

Visit Now

Advertisement

Owner Background Search

Criminal Records
Assets - Properties
Personal Details


Know your seller!

Sponsored by

BeenVerified

Bareboat Charter

WikiTags/LinksWikiShare


BoatWiki - Definitions

Definition


A bareboat charter can be defined as a lease or rental arrangement wherein the lessee operates a boat independent of the lessor. Ownership remains with the lessor, but the lessee may operate the boat at will within certain parameters as specified in the lease or rental agreement.

Meaning


A bareboat charter may be likened to renting a vehicle or truck. If the owner is hired to operate the boat on behalf of the lessee, however, this would fall under the category of a skippered charter. The same applies to the owner's crew as this would fall within the meaning of a demise charter. These have different connotations when it comes to taxation, insurance, and other legal implications.

Context


Bareboat charter terminology is most frequently invoked in the recreational boating industry while demise charters more often apply to commercial arrangements. The Coast Guard does not require commercial endorsements on bareboat charter vessels used solely for recreational purposes, unless skippered by the owner.

Conclusion


Bareboat chartering by an owner may offer certain income and tax advantages for owners. However taxation issues have now come under close scrutiny in many jurisdictions. Chartering a boat can also become fraught with liabilities and legal implications. Much consideration should be given before going down this road and the assistance of an attorney or tax professional is highly recommended. Visit the above WikiTags for more information about chartering.


Credits and References

4/17/2022 - Page initiated by Team BoatWiki.




Advertisement

BoatUS Towing


Float Your BoatWiki

Learn about the role you can play
in supporting the internet's most reliable
source of free boating information.

WikiAlerts

Stay informed about urgent matters of
boater fraud and the latest changes in
 boat registration or safety regulations.

Advertisement

Advertisement

BoatUS Member


BoatWiki.com

A Division of Maritime Partners, LLC
State of Washington  USA
© Copyright 1998 - 2022 All rights reserved.