The Association of Brokers and Yacht Agents (ABYA) and the British Marine Boat Retailers and Brokers Association (BRBA) have announced the launch of a new joint industry-standard brokers contract – the BRBA / ABYA Sales Purchase Agreement.
This agreement, a key outcome of the strategic alliance between ABYA and BRBA unveiled at the Southampton International Boat Show 2024, represents a significant milestone in strengthening professional standards within the yacht brokerage sector.
The new Sales Purchase Agreement provides brokers with a legally robust and practical framework designed to improve clarity and consistency in yacht transactions. It also offers much-needed additional protection for consumers, helping to enhance overall confidence in the buying and selling process. The contract will be reviewed annually to ensure it remains aligned with industry best practice and regulatory developments, and both organisations strongly recommend its adoption by their members.
The development of the new agreement has been driven by the expertise and commitment of Peter Norris, Chair of ABYA’s Regulatory Committee, and Chris Manners, BRBA Committee member. Their dedication and collaborative efforts have been instrumental in creating a contract that meets the evolving needs of brokers and ensures a clear, consistent process for buyers and sellers alike.
Alastair Walton, Chair of BRBA, commented: “This agreement is a major step forward for the brokerage industry, providing our members with a standardised, reliable contract that reflects current market needs. 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, Chair of ABYA, 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 is a key step in our long-term strategy to provide greater value to our members through enhanced guidance, training and industry representation.”
This initiative follows the formalisation of the ABYA/BRBA strategic alliance, which was announced by Alastair Walton and Peter Norris, Chair of the ABYA Regulatory Committee, during the Yacht Brokers, Designers and Surveyors Associations’ networking event at the Southampton International Boat Show. The partnership builds on previous collaborations, including the successful delivery of three Practical Yacht Broker Courses so far, with further courses scheduled throughout 2025.
Looking ahead, ABYA and BRBA will continue working together to address key industry challenges, including lobbying efforts on pooled client accounts, VAT evidence standardisation and resource-sharing around Know Your Client (KYC) protocols. The partnership also aims to establish a certified pathway for broker training, ensuring that professional standards remain high across the sector.
The BRBA / ABYA Sales Purchase Agreement is now available for use, and both associations encourage members to integrate it into their brokerage processes.
British Marine members can access the template on the British Marine website (www.britishmarine.co.uk) – Standard and Specialised Contracts.
ABYA members can access the template on the ABYA website (https://members.abya.co.uk) – ABYA – Members
