What is a charter bond and when do I get it back?

A bond is a security amount the operator holds against your card to cover damage, loss or extra charges. On a clean return it is released, usually within one to two weeks, though the timing varies by operator and by bank.

Bonds on bareboat charters can run to thousands of dollars. That is not a fee. It is an amount they can draw on, and in most cases it is pre-authorised rather than actually charged, so the money is frozen on the card rather than taken.

What it typically covers

• Damage to the hull, rig, sails or engine caused during your charter.
• A lost or damaged tender or outboard.
• Fuel and gas used, if those are settled on return.
• Cleaning beyond normal, or a late return.
• Retrieval or assistance costs if you need the base to come to you.

How to protect it

• Do the handover inspection properly and get existing damage noted in writing, with photos.
• Take your own photos of the tender, outboard and sails at handover.
• Stay inside the permitted operating area. Going outside it can void cover entirely.
• Call the base early if something breaks. Fixing it yourself badly costs more than the call.
• Do the return inspection with a crew member present rather than dropping the keys and leaving.

Bond and waiver are not the same thing

A damage waiver is a daily fee that reduces your exposure. It does not usually reduce it to zero, and the bond often stays in place at the reduced excess level. See what does a damage waiver cover for the exclusions, which matter more than the headline figure.

If money is withheld

Ask for an itemised account and the repair quote. Australian Consumer Law gives you rights on services that cannot be excluded by contract, so an unexplained deduction is worth questioning in writing. Keep your handover photos until the bond clears.

The bareboat guide covers handover in detail, and costs puts the bond in context with the other money you will be asked for.