• Entitlement Time (in days) is calculated to the nearest day and is based on a 32-week sailing season with a 4-week shoulder at either end;

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• For the purposes of the illustration, mooring and maintenance costs are set at 8% of the purchase price of the yacht. Although this may seem arbitrary, prior experience indicates it to be a reasonable estimate. By far the greatest proportion is the mooring costs, and for the illustration here, the median average annual mooring tariff has been used (which was Toulon, St.Mandrier at €4609). Other annual costs include insurance, engine servicing, lift-out/lift-in costs either side of the winter weeks ashore. If there is new kit we think the yacht needs - perhaps some updated electronics, or maybe a new fridge, for example - probably it's best that this is decided co-operatively and as with everything else in the Scheme, the cost is shared proportionally.

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• At the moment, a minimum share of ownership has been set at 4/64 (four-sixtyfourths) as previous experience of yacht partnership has shown that very small shares of ownership are not practical, not least because lots of small-share partners may make decision-making about Home Port locations, or winter maintenance quite challenging. Hence setting a limit on the maximum number of partners in the scheme is likely to lead to easier and more effective decision-making. All prospective partners decide for themselves how much equity (in sixtyfourths) they want to invest, and these do not need to be equal.  Even a sixteenth share of ownership (4/64) still provides two full weeks of summer sailing in the sunshine.

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• Similarly, the maximum share of ownership has been set at 32/64, equivalent to a 50% share in the yacht, so that no single partner can have a majority and perhaps overly influential input to the partnership. But if interested partners come together and agree that a smaller share of ownership would be workable, or a larger share is ok, of course these restrictions can be amended.

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