The importance of being an ABYA broker

Sitting proudly at the top of our website is a blue and white logo belonging to ABYA; the Association of Brokers & Yacht Agents. ABYA is one half of the YBDSA – Yacht Brokers & Designers Association with the other half being the YDSA – Yacht, Designers & Surveyors Association. This historic association was formed in 1912 and exists to support, guide and oversee the actions of their member brokers, surveyors and designers. Unlike many trade associations which cater purely for the corporate level, the YBDSA and more specifically ABYA exists for the individual broker and works to provide training, continuous professional development, up-to-date contracts, direct links to customs and registry bodies, dispute resolution and networking opportunities for their members. ABYA memberships range from probationary through to accredited and full with the Association overseen by an executive committee of fellow brokers and the YBDSA’s long-serving CEO Jane Gentry. Grabau International’s Alex Grabau and Mark Cameron reside on the current committee and work to ensure that all services provided by Grabau International are following ABYA’s Codes of Practice.

With yacht brokerage being largely unregulated, the existence of associations such as ABYA plays a vital part ensuring good professional services and accountability. All ABYA brokers must apply to the committee for membership, demonstrating evidence of their work, supported by independent references and they must hold appropriate professional indemnity, and public liability insurances and show provision of clearly-separated client accounts for holding client monies during transactions. The Sale & Purchase Agreements used by ABYA brokers are commonly regarded as being some of the best available and are unique to the association, written under English law (the preferred jurisdiction for all large yacht contracts) and based on sound and fair logic and clear English.

While Grabau International is very much an international business, listing and selling yachts in all parts of the world, membership of ABYA remains a cornerstone of the business, and a key factor in its rapid growth and success, with buyers and sellers from all over the world taking advantage of the ABYA-defined services that the company offers.

To find out more about ABYA, the YBDSA and the YDSA, you can visit their websites here.