A 48 Hour Option is offered to the broker (Broker "A") who has requested "working dates" (ie: pending, or penciled in) for a charter on a yacht, when a second request comes in from another broker (Broker "B") for a charter that is:

• IN DIRECT CONFLICT with Broker A's requested dates, or
• OVERLAPS Broker A's dates, or
• Limits the 48 hour TURN AROUND period at the beginning or end of Broker A's dates

Should Broker A decide to take the offered 48 HOUR OPTION, a form with these rules outlined thereon will be faxed to Broker A detailing commencement and completion dates and times of the 48 HOUR OPTION.

Broker B may request a confirmation of booking at the completion of Broker A's option if Broker B has funds in hand.

Broker B, in the absence of funds, may request a 48 HOUR OPTION at the completion of Broker A's OPTION. However, no broker may place a second 48 hour option for the same dates on a yacht. Additionally, a broker may not ask for a 48 HOUR OPTION on more than one yacht at a time, unless it is a "tandem" or "flotilla" charter.

In case of a weekend, legal holiday or other non-business day, the 48 hours will be continued to the next business day, ie: Broker B calls at 3pm Friday. Broker A is notified and he/she takes a 48 HOUR OPTION, the period extends until 3pm Tuesday (the weekend not being business days). Or, if Broker B calls at 3pm on Friday before a long weekend with a Monday holiday, Broker A is notified, and if he/she takes a 48 HOUR OPTION, the time period would end at 3 pm on Wednesday. CharterPort BVI will make every effort to contact a broker regarding a 48 HOUR OPTION. However, if the broker cannot be contacted by telephone or fax, the 48 HOUR OPTION will be considered to be in place from the time of CharterPort BVI's first telephone call or faxed option.

The 48 HOUR OPTION time clock runs on Atlantic Standard Time year-round. CharterPort does not keep a calendar of the legal holidays that apply to individual brokers. CharterPort BVI works only with legal holidays about which we are aware. Consideration will be made, on request, for Broker A's or Broker B's local holidays. Such requests must be made prior to the end of a 48 HOUR OPTION.