12: ACCIDENTS: The owner agrees that the yacht, after delivery, the yacht should maintain the machine failure or be disabled or damaged by fire, grounding, collision or other causes, in order to prevent its use by the CHARTERER for a period of twenty-four (24) consecutive hours, or if the yacht is to be lost or this damage is so important that the yacht is no longer so important that the yacht is no longer , or will not be repaired within twenty-four (24) hours without this resulting from an act or failure of the CHARTERER, CHARTERER has the right to terminate the Charter. The owner must return all charter costs to THE CHARTERER, in proportion to the loss or damage. Payments: The charterer agrees to lease the yacht and pays the charter and other costs agreed with the means specified in this agreement. Failure or disability: If the yacht after delivery at any time by machine failure, grounding, collision or other reasons to prevent the proper use of the yacht by the charterer for a continuous period of 24 hours or more, then (unless such loss of use is caused by an act, negligence or delay of the charterer , where the EIGNer is entitled to reimbursement of damages etc. by the charterer) the time lost of 24 hours if agreed, the charter period will be extended. After the 24-hour waste of time, if the charterer agrees, the owner replaces the yacht with at least one similar or better vessel. If the charterer decides to cancel the remainder of the charter period, the owner reimburses the rental fee in proportion to the time not used. Arbitration: Any dispute over the interpretation and enforcement of this agreement is resolved by arbitration. Each party appoints its own arbitrator, whose decision is final and binding. The agreement is subject to the laws of Turkey and is established accordingly. Cruising Area: The charterer limits the cruising area of the yacht to the agreed cruise area. 15.
DISPUTE RESOLUTIONS: If the owner and CHARTERER are unable to align any potential disputes with the Charter or this Agreement, this dispute will first be mediated before a mediator agreed by CHARTERER and EIGNer, the costs being distributed among the parties. Mediation is conducted in accordance with the rules that the parties may agree and, in the event that the dispute cannot be resolved through mediation, any party may resort to an appeal under paragraph 16. Non-cession: The charterer will not cede this contract or sublet the yacht without the owner`s written consent. Claims: The owner is not liable for any matters arising from this agreement or in connection with this agreement, unless the charterer has notified the owner no later than 24 hours after the expiry of the charter period or, in practice, after the date the event occurs, the cause of the complaint. 1.2 The down payment is made as a down payment to secure the vessel for the charter period and will be paid to the owner upon signing of this agreement. If the advance is paid by the charterer, the owner agrees not to enter into any other charter agreement for the vessel for the same period.