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DRAFT AGREEMENT & T & C's
AGREEMENT SAMPLE
 
 

DRAFT AGREEMENT & T & C's

This agreement is made the 6th day of September two thousand and nineteen.

BETWEEN Double-R-Racing of 4, Longfield Close, Southsea, Hampshire, PO4 8NE (Hereinafter called the partnership manager) of the one part,

 

And

Of

 

(Hereinafter called the shareholder) of the other part.

Whereas

(1) The shareholder agrees to LEASE / PURCHASE a share in the racehorse and agrees to pay an agreed purchase price plus an agreed amount each MONTH to cover the share of expenses. With the first 3 months paid in advance.

 

(2) The shareholder agrees to pay their percentage of all expenses until the horse is sold or retired. Based on an annual cost of £24,000. The payment of £70 a MONTH will cover ALL EXPENSES for the period including: - Training, Keep, Shoeing, Routine Vet Bills, Jockey Expenses & Entries fees, Gallop Fees, Transport to Race meetings & Miscellaneous items i.e. lads presents, photos, accountancy fees etc.. This will be based on the majority shareholders decision of trainer chosen and the above figure which is a guideline could vary. Shareholders will agree to share the cost of any excessive vet bill, (Over £100) which will be deducted from the horses earnings.  

 

(3) The shareholder will enjoy all ownership entitlements and benefits with free admission to race meetings if the horse runs in FRANCE. Should the horse run in the UK ‘FREE’ badges are subject to availability therefore the shareholder agrees that when oversubscribed a draw will determine the destiny of the available FREE badges with discounted badges available for the remainder.

 

(4) All decisions regarding the training and running of the horse will be made by the trainer who is the closest to the horse and in the best position to plan the horse’s programme.

 

(5) A detailed financial statement, along with your share of accumulated prize money and refund of any surplus funds will be sent to you at the end of each 12-month period.

 

(6) The horse will run under the name of Double-R-Racing and in their registered colours of Blue & White stripe body, Red & Blue stripe sleeves and Red & White hooped cap.

 

(7) Should at any time it appears that the horse is not up to the standard required or if it sustains any long-term injury Double-R-Racing will arrange a replacement horse.

 

(8) The shareholder agrees to pay an equivalent percentage towards immortality insurance cost if required when invoiced. (Estimated at £30 per 1%pe annum).

 

 (9) In the event of a partner not paying his/her monthly payment within 10 WEEKS his/her share will be forfeited and that share offered to a new partner. Weatherby’s will be informed.

 

(10) Should a shareholder wish to leave the syndicate they will give three months’ notice. The shareholder will also receive their accumulated prize money less the balance of expenses due for the remainder of the agreement.

  

I ………………………………..….agree with the above conditions.

 

Address.

 

Tel No...............................................Mobile No..............................................................

 

E-mail..........................................................................

 

Signed..........................................................................Signed.....................................................................

                                                                                                    On Behalf Of Double-R-Racing

 

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