ABSTRACT
Yacht brokers provide a range of services for their clients, from acting in relation to one particular transaction, for example a sale or a charter, or providing a full portfolio of services including the commercial and technical management of a yacht. Where the broker is instructed exclusively, it will normally act under a Central Agency Agreement with the client. In order to determine the actual authority of a broker, one is looking at the relationship between the principal and the agent. Any broker who purports to act on behalf of a principal gives a warranty of authority to anybody it is dealing with that it has the actual authority of the principal to act on that principal's behalf. Alongside the duties owed by a broker to his principal as part of the overall duty of reasonable skill and care, a broker who is an agent for his principal will also generally owe that principal a number of fiduciary duties.
