Established on the 28th’ May 1997 in Milan, ISYBA – ITALIAN SHIP & YACHT BROKERS ASSOCIATION – is the National Association for Yacht Brokers operating in both the shipping and pleasure sectors.
The Association has the objective of representing the interests of Ship and Yacht Brokers with regard to the Maritime Authorities and third parties, public and private bodies, and other associations. It also aims to assist its members in the resolution of problems related to their activities, as well as training aspiring Brokers in order to obtain official qualifications.
Created in order to promote the interests of Yacht Brokers, ISYBA decided to establish the professional figure of the ISYBA BROKER in order to offer both clients requiring assistance in sales or purchases, and members, a benchmark that went beyond that of the Broker, a figure already in itself synonymous with professionalism.
In fact Ship and Yacht Brokers, who are qualified to carry out their activity and thus able to guarantee full protection for all parties concerned, already represent a guarantee for any client. They meet professional and ethical requirements (including impartiality, transparent relations between the parties and confidentiality) that are fundamental to achieving certification, and act as an unbiased agent with regard to all parties across sales, purchases and rentals.
The professional Broker has an escrow account, similar to that used by notaries, which is separate to their operational account and is reserved exclusively for transactions between purchasers and sellers, who entrust the independent Broker with the role of depositary as well as guarantor of the successful outcome of the transaction. Qualified ISYBA BROKERS also hold professional liability insurance, which protects the parties involved in the brokerage.
ISYBA BROKER is not simply a Yacht Broker
In addition to the regulations already in existence for the profession, the ISYBA BROKER must first and foremost adhere to the association’s Code of Ethics, which outlines the rules and guidelines on conduct so that the activities are managed according to general principles of fairness, respect, professionalism and transparency, both towards clients and in relations between Brokers. Their knowledge of the sector allows both seller and buyer to define a transaction at the correct market price, and allows them to propose/advertise boats with accurate descriptions in terms of their technical, aesthetic and administrative aspects (ownership status, any leases in progress, etc.) to a wide audience of potential buyers.
Both the members and clients contacting ISYBA may take advantage of contractual forms produced based on the experience of members (making the contract “airtight” and leaving nothing to chance or interpretation), that have been examined by the Association’s specialist Legal Advisors. ISYBA BROKER is a qualified Yacht Broker and can therefore ensure the validity of documents which they will always treat in accordance with strict confidentiality rules with regard to third parties external to the negotiations. They follow the evolution of the contract and take care of any divergences in order to reach an agreement between the parties, as well as assisting them during the performance of technical checks and the procedures for transfer of ownership and any transfer of National Registry.
Yachtfolio ISYBA is an internal platform reserved for members only, where information on vessels can be shared with the sole purpose of collaborating using a precise modus operandi. This offers ISYBA BROKERS a distinctive and almost unique efficiency, giving buyers the opportunity to find the boat best suited to their needs, or to hire or lease a cheaper alternative, avoiding any surprises at any stage of the negotiation thanks to standardised procedures across the group, and therefore also adopted by the colleague with whom the Broker is collaborating. Both parties can be certain they have all of the necessary information, in addition to being protected in the transaction by the professional indemnity policy that all ISYBA BROKERS hold.
Thanks to the work of colleagues in the association who collect industry information, including from Confindustria Nautica, of which ISYBA is a member, ISYBA BROKERS are constantly updated on news of interest across the entire nautical sector.