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post #1 of Old 11-18-2006 Thread Starter
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Cool Non Refundable Security Deposit

As some one who sails alot in the Med and the Carribean, I am alarmed at a new trend developing with Greek Bare boat companies. The Non refundable security deposit..... I refer you to MG Yachts web page and there blantant scale of Non refundable deposit charges
scroll to the bottom of the page to see there charge schedule....

In an industry that is little regulated in Greece, we now have a new quirk to deal with. It seems that MG Yachts wants to keep a portion of your security deposit money, regardless wheather you damaged anything or not !!!
and I quote direct from the web site....

"On the non refundable security deposits, we refund the half of the amount,
in case of no damages or losses at all."

I guess MG Yachts has to make up the difference of there cheap prices by offsetting that by keeping your security deposit.... I have not checked other Greek Charter company security deposit polices yet... but fully plan too, becasue if this is the new trend/scam with Greek Bare boat companies, then they should be taken to court becasue amounts to an illegal practice.

A security deposit is meant to be that, a deposit against damage/accidents, if there is damage that needs to be fixed above normal wear and tear then the charges should be taken from the deposit and the remainder returned to the client. Keeping a portion of the deposit regardless as MG Yachts states they do is illegal .... perhaps there slogan should be "send us your money and stay home"...

At a time where private captained yachts are growing in Greek waters, much like the carribean. It seems to me the better option rather than run the risk of losing money with unsurplus Greek charter companies who make up scams and policies designed to lighten your wallet and ruin your vacation. Private captained yachts do'nt even charge security deposits, and I still get to steer the yacht and choose where I want to go. I fore see the small greek charter broker slipping into the mire and private operations slowly taking over, again much like has happened in the Carribean.

I invite comments and enlightenment, of which MG yachts will have a few choice words to say I am sure

Last edited by Britsailor; 11-18-2006 at 12:30 PM.
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