The Association of Brokers and Yacht Agents (ABYA) and the British Marine Boat Retailers and Brokers Association (BRBA) have launched a new joint industry-standard brokers contract.
The BRBA / ABYA Sales Purchase Agreement is said to represent a significant milestone in strengthening professional standards within the yacht brokerage sector.
It will provide brokers with a legally robust and practical framework designed to improve clarity and consistency in yacht transactions and also provide additional protection for consumers.
The contract will be reviewed annually to ensure it remains aligned with industry best practice and regulatory developments.
The development of the new agreement has been driven by Peter Norris, chair of ABYA’s Regulatory Committee, and Chris Manners, BRBA committee member.
“This agreement is a major step forward for the brokerage industry, providing our members with a standardised, reliable contract that reflects current market needs,” said Alastair Walton, chair of BRBA.
This agreement is a major step forward for the brokerage industry.
Alastair Walton
“Our strategic partnership with ABYA enables us to bring greater professionalism, transparency, and efficiency to yacht transactions, and this new contract is just one of the many benefits we plan to deliver together.”
Chris Ibbotson, ABYA chair, added: “This new contract reflects our shared commitment to upholding high professional standards in yacht brokerage.
“By working collaboratively, ABYA and BRBA have created a contract that supports brokers and their clients, ensuring a consistent and legally sound approach to sales transactions.”
This initiative follows the formalisation of the ABYA/BRBA alliance in 2024.
The two organisations say they plan to continue working together to address key industry challenges.
The partnership also aims to establish a certified pathway for broker training, ensuring that professional standards remain high across the sector.
