Syndicate Contract

careca

Would anyone have a template or a copy of a contract that syndicate members sign when they are buying a horse?

Just trying to ascertain what things should be included.

Thanks in advance.

Cantoris

Try this for some good hints from HRI

http://www.goracing.ie/AssetLibrary/Files/HRI/Ownership/Heads_of_terms.pdf

If you go to some of the Australian syndicate sites you will find some decent templates too. It's a bit Oz but you can easily amend the various sections.

For what it is worth, my syndicate agreements include the following headings: definitions, shares, syndicate training fees, syndicate manager, naming of horse and colours, prizemoney and trophies, stable visits and communications with the trainer, raceday badges, sale of shares, syndicate meetings, failure to pay, splitting of shares, amendment to terms and conditions, termnation of the syndicate, sponsorship, governing law.

Hope this helps

careca

Cantoris wrote: »

Hope this helps

Very much so, thanks a lot.

Cantoris

No probs. Are you buying for a new syndicate or putting an agreement in place for one you have already? In the current environment you're doing well to have pulled a syndicate together. I know myself it has been difficult (that's why we only bought one this year, was hoping for two)

careca

Cantoris wrote: »

No probs. Are you buying for a new syndicate or putting an agreement in place for one you have already? In the current environment you're doing well to have pulled a syndicate together. I know myself it has been difficult (that's why we only bought one this year, was hoping for two)

Its for a group of lads here at work who are starting up a new one. I was involved in a fairly costly one last year, so I'm giving this one a skip. The one I was in was fairly haphazard with no agreeement at all in place. Of course when it went belly up, no one knew where they stood.

Good luck with your own.

Cantoris

Thanks for the good luck wishes. With horses, there is only so much science and then a heap of luck involved.

On the syndicate front, I hear you with the difficulties when there is no agreement. The other big issue is getting cash off people. I had a very very small interest in one about five or six years ago that was atrociously run. They were collecting money every month and some didn't or couldn't pay and it got very messy so the plug was pulled quickly. I always get six months training fees in advance from my members. It's normally around a grand at once but if people are struggling paying this then they shouldn't be in a syndicate at all. Best of luck with them. What have you your eye on, flat or national hunt, price range, trainer etc. I'm always interested to hear what other syndicate members are looking for with their ownership experiecne.

Shelflife

I recently joined a syndicate run by winning ways syndicate, he basically manages the syndicate for a small fee and everything is upfront and carefully laid out. i can give you more details if you want.

mike65

I was looking at this crowd a while back when they had a share or two going in thier latest buy.

http://www.winningwaysracing.ie/

Mike.

careca

Thanks for the replies. I think everything is sorted at this stage. Only need to book the tickets for when he is running in the Gold Cup