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While bareboat chartering your Canadian vessel can be a smart way to generate extra revenue, there are some steps to take before you can simply hand it off to a qualified captain and crew. You will need to submit a form known as an Application for Bareboat Charter Registry to Transport Canada.
A charter party is a document of contract by which a shipowner agrees to lease, and the charterer agrees to hire, a vessel or all the cargo space, or a part of it, on terms and conditions forth in the charter party.
A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the vessel from the owner are responsible for taking care of such things.
To qualify for bareboat chartering you simply need to have experience skippering a similarly operated (sail or power) yacht that is within 8-10 feet of the yacht you wish to charter. With experience, a certification or license is not required in most locations, except the Mediterranean (see below.).
Bareboat Charter an agreement between a ship owner and a charterer (an individual or company chartering a vessel) that essentially gives the charterer complete responsibility for the vessel and its operation over the course of the charter.