ABYA and BRBA launch new industry-standard sales purchase agreement
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.
During a networking event at the 2024 Southampton International Boat Show, Alastair Walton, chair of BRBA, and Peter Norris, chair of the ABYA Regulatory Committee, announced the formalisation of the organisation’s new strategic alliance.
This joint agreement has followed and marked a step toward improving clarity, consistency, and professionalism in yacht transactions. It provides a legally robust and practical framework designed to streamline sales processes while safeguarding the interests of brokers and their clients.
Walton calls the launch a “major step forward for the brokerage industry.” The contract will be reviewed annually to ensure it remains aligned with evolving industry practices and regulatory developments.
“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,” adds Walton.
Chris Ibbotson, chair of ABYA, emphasises the collaborative effort: “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 partnership builds on previous collaborations, including the successful delivery of three Practical Yacht Broker Courses, with additional courses scheduled throughout 2025.
ABYA and BRBA plan to continue addressing 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 consistently high professional standards across the sector.
The Sales Purchase Agreement is now available for use, and both associations strongly encourage members to integrate it into their brokerage processes.
