3: Is my money safe ? Who holds my money, and where?

Your money is held in a secure 'escrow' account, under an escrow agreement. Once you have signed the charter contract, the deposit funds are forwarded to an escrow account with UBS in Switzerland, to be held there on your behalf. The funds are released to the yacht’s owner upon the commencement of the charter. To read more about an escrow agreement, please take a look at the following definition from Business Dictionary and Escrow.

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