| A yacht management company is an agency that | | | | This includes the payment of a crew's wages and |
| deals with all the tasks,large and small, involved in the | | | | buying supplies a well as the day to day running of the |
| running of a yacht. The company performs these | | | | craft. |
| tasks on behalf of the vessels owner. They include the | | | | Safety on board a boat is an international legal |
| boats finances and accounting, safety and crew | | | | requirement under the ISM and Mini ISM System |
| management, operations management, technical | | | | regulations. In this regard, the agency duties include |
| support, insurance, managing refits and new | | | | promoting safety and awareness on the yacht, and |
| construction. | | | | ensuring the crew are aware of their responsibilities as |
| By hiring a specialist agency owners are relieving | | | | far as safety for those on board is concerned. They |
| themselves of a whole host of the problems when it | | | | are also responsible for the hiring of crews ensuring |
| comes to comes to safely and successfully sailing a | | | | their on board competence and their welfare. They |
| boat. The agency will use their expertise to ensure | | | | also liaise with the captain in the operation of the |
| that everything runs smoothly, 24 hours a day, seven | | | | vessel and its technical support. |
| days a week, wherever in the world the vessel is at | | | | Periodically, all vessels have to undergo a refit. An |
| any given time. | | | | agent can assist in arranging this, either for routine |
| Running a yacht can be very much seen as a | | | | maintenance, or complete refits and will also arrange |
| business, and the management company will help set | | | | the drawing up of plans and the supervision for the |
| budgets as well as take care of accounts and auditing. | | | | construction of a new yacht. |