The following is an explanation of all current fees assessed by Boatbound.
The fees paid by all parties are listed below. Failure to charge any of the below fees shall not constitute a waiver of the right to exercise the same in the event another fee should become due at any other time.
Immediately upon booking confirmation, the renter is responsible for paying the 10% service fee, the listing price, and the $15 towing fee for each rental booked.
The reservation fee for every rental is 10% of the listing price or of the special offer price. Special offers are the final agreed upon value of the charter between the owner and renter. For example, on a $1,000 full day charter, the renter would pay $1,100. If there was a special offer for $800 in lieu of the $1,000 then the renter is only responsible for $880.
If the rental period is longer than 5 days, an additional $15 will be charged for each 5 day period.
Non-commercial boats: 35% percent of each rental is retained to cover the cost of the listing tools, search engine marketing, peer-to-peer rental insurance through BoatUS, payment processing, service fees, and support services provided by Boatbound to both the owner and renter during the rental period.
Commercial boats: If you have Commercial Insurance or a Charter Insurance Policy, we charge a 5%* service fee per booking. To see if you qualify, check here, then contact us via a support ticket to update your account.
The fees listed below are related to any post-rental resolution between parties. Failure to charge any of the below fees shall not constitute a waiver of the right to exercise the same in the event another fee should become due at any other time.
Boatbound will deduct a 2.7% + $0.55 processing fee on all fuel payouts, security deposit payouts to owners, and other post booking payouts.
Boatbound reserves the right to charge a one-time administrative fee of $30.00 for any resolution fee.
If a renter returns a boat after the agreed rental period end time or arrives late to the start of the rental, they can be charged a late fee. This late fee is calculated by combining a one-time administrative fee of $30.00 plus the prorated hourly rental rate (based on the daily rental rate for the boat rented) plus applicable insurance charges. If the late return results in the disruption of another rental or if Boatbound needs to find the owner of the boat alternative transportation due to the late return, the renter will pay the full daily rate for every eight (8) hours the boat is late and an additional $100 administrative fee. Boatbound WILL deduct the standard Service Fees from any late fee charge.
If the boat owner does not show up to meet the renter and make the boat available for the renter at the agreed upon rental start time or if the boat is in an unacceptable condition, Boatbound will treat this as an owner cancellation and can charge the owner up to $100 per no-show at their discretion.
If the Renter is a no-show within one hour of the agreed start time, the owner has the ability to cancel the rental. Boatbound will treat this as a Renter cancellation. The full cancellation policy can be found here.
In the case that the Owner's fuel policy is not followed, Boatbound will charge the Renter for fuel replaced as well as the standard $30 administrative fee.
A minimum of $500 will be held for each rental as a security deposit. Owners reserve the right to charge higher deposits, which will be held on the renter's credit card to cover any incidental damage or lost items. The credit card hold will be released 72 hours after the rental period ends if no dispute or claim has been filed. In the case a claim is filed by the owner, the security deposit will be captured and held until the claim is resolved. If Boatbound is unable to capture a security deposit before the rental, the rental can be canceled.
For any claim event, the renter's security deposit will be captured to pay the insurance deductible, damages, and fees. Any portions of the security deposit that are unused will be refunded back to the Renter at the resolution of the claims process.
*Charter or commercial service fees and commissions are subject to change at any time.