YBAA member brokerage firms and their brokers are committed to fully complying with the following YBAA Code of Ethics and Business Practice as a condition of membership and to strengthening their commitment to comply with the highest industry-specific standards. 4.1.d. If the broker is not able to show the yacht, the broker can try to make arrangements with the shipyard for it to show it. The shipyard is then informed of the broker`s willingness to pay for the service and payment is made immediately for this service, whether the yacht is sold or not. 4.1.c. When you show the yacht, the broker registers at the shipyard office and shows the boat without help if possible. If help is needed, the broker will arrange for the payment of all necessary fees. The yacht must be left as it was found. 4.1.a. When an offer is received by a broker, the broker will ask the seller to inform the shipyard that the broker has permission to show the yacht. 1.6 The Broker will take special care in its advertising to present a true and fair view of the vessel and/or its condition and will not advertise without revealing its name, nor will it allow its sellers to use the name or telephone numbers of the person, unless the seller`s connection with the broker is evident in the advertisement.
2.6.b If the Seller seeks the advice of the Listing Broker for the settlement of simultaneous negotiations, it is recommended to disclose the existence of further negotiations in order to minimize the concerns of other buyers and brokers if they learn that another negotiation was in progress. In addition, it is usually in the best interest of the seller that every buyer knows that the yacht in question is in high demand. 1.1 The broker will hold in a special bank account, separate from his own or that of the brokerage firm, operating funds or funds held in trust for other persons. When the broker settles trust funds or deposits, these funds are promptly released and distributed once the terms of a contract or trust agreement are met, or if the parties agree not to proceed with the purchase. Escum or deposit funds will never be used as working capital until a sale is concluded or the broker/escum agent has been otherwise informed in writing by all parties involved in the original agreement. 3.6.b. A listing broker should not allow an interested party to change the trading to a member of the listing broker`s company unless the listed dealer is prepared to first pay the broker who initiated the denials the full commission he would have received if that broker had concluded the sale in a normal manner, or unless: the brokers concerned may agree on other mutually satisfactory terms. 1.7 For the protection of all parties with whom it does business, the Broker will ensure that financial obligations and obligations relating to yacht transactions are made in writing, expressing the exact consent of the parties and that copies of such agreements are placed in the hands of all parties concerned at the time of their execution.
2. The selling broker must contact the listing broker or registration broker to register a potential buyer, preferably in writing, with respect to the vessel(s) of interest and to agree on a date or time of issue. The seller broker`s failure to register the potential buyer may result in the loss of commission and judgment against the selling broker if a dispute resolution claim is filed with the YBAA Professional Standards and Ethics Committee, the Certification Advisory Board or a dispute resolution body of the Yacht Brokers Association. 4.1.e. The broker will keep the shipyard informed of a negotiated sale. 3.7.a. Each broker chooses a member of the YBAA; these two members jointly agree on another member […].