Big names are smoke and mirrors
The insolvency of Air Berlin, Bavaria Yachtbau from Giebelstadt and the major bankruptcy of Thomas Cook, for example, showed us this, although we viewed their balance sheets with skepticism. But behind this were large hedge funds that gave the impression of being “too big to fail”
As a result, many customers lost their down payments. And exactly the same thing can of course also happen with charter operators, as the following examples from the past show us.
We can learn two lessons from this case
1. Some decisions and changes cannot be foreseen by outsiders.
2. Great advertising and a great market presence, and even great services, say nothing about a company’s economic creditworthiness. This applies to every industry, including the charter industry.
This is the reason why we recommend all skippers to charter with credit-checked companies! whose insolvency risk can be covered by us.
Is there a negative list?
we are asked again and again. Yes, there are, but unfortunately we cannot publish them. But there is a positive list of companies that have been positively tested by YACHT-POOL. Incidentally, any company can apply. You can’t buy a listing under the “CHECKED & TRUSTED: Financial Security System” seal of quality, which is used by verified companies to advertise their services. But that’s not all: our customers also expect that companies that advertise with our logo also have other services and business practices in order. The experiences and feedback from you, our customers, are therefore also part of the evaluation.
If a company does not have this label, there are always reasons for this. Of course, one of the reasons may also be that a company does not want to undergo this annual audit procedure. Therefore, it cannot be concluded that every company that is not listed does not per se meet the requirements of YACHT-POOL.
Let’s stay in touch!
We would like to keep you informed in the future with our YACHT-POOL newsletter about current market developments, legal cases, changes in the law and important information for your safety Important information can also be found in the newsletters on our homepage and in our book “The skipper’s liability”.
The YACHT-POOL crew will be happy to answer any questions you may have!
Your YACHT-POOL Crew
