1. Updates and Information
Clanbrooke Racing’s primary communication vehicle is the website at www.clanbrooke.com. Members are provided with a User I.D. and Password when they join the Partnership. Updates are posted within the Members section weekly or on a needs basis. Email updates are provided to Members who supply their email address, but only in special circumstances - i.e. nominations/acceptances and also changes to proposed programs.
2. Insurance
In an effort
to reduce the overall risk to Syndicate members, our horses are insured
(Leased horses excepted) from the moment of purchase for a period of twelve
months, with a reputable Equine Insurance Company (Logan Equine Insurance).
At the end of the twelve month period, Members may elect to either;
-continue to insure their share with Clanbrooke's existing insurance company
(owners may vary the amount for which they are insured), or
-choose an independant insurance company, or
-elect not to continue insuring their share.
Members should be aware, however, that horses may only be insured against
death or destruction.
Logans Equine Insurance will send a letter to all owners reminding them that
insurance cover will expire shortly.
3. Racing colours
Clanbrooke
Racing has registered the following colours for racing:
Royal Blue and Gold Vertical Stripes, Hooped Sleeves and Quartered Cap.
4. Tickets for Racedays
Syndicates
are limited to a maximum of twenty tickets and Partnerships to a maximum of
ten tickets. Admittance for Syndicate owners is restricted to the Owner of
the share and guests will usually be required to pay normal admittance.
Mounting Yard tickets are available to Members of a Partnership, generally
at the Secretary’s Office on Race Day. Mounting Yard tickets are available
to all Syndicate Members depending on the number of horses in the race and
the safety regulations at the individual course, as per Racing Victoria
guidelines.
All owners should, once their horse has been registered, apply via the RVL
website for an Owners Gold Card. Apart from making it easier regarding
entrance and mounting yard tickets in the city, the card also provides free
entrance to most country race meetings during the year and a large number of
city meetings.
5. Management
The Manager of all Clanbrooke Partnerships is Dean Humphries. The Manager has complete power to manage the Partnership on behalf of the Members. Such responsibilities include but are not limited to: nominations for major races, decisions relating to veterinary procedures and payment of training and ancillary accounts. Owners (and lessors) indemnify the Manager in his capacity as Manager for all payments required in respect of the fees and expenses associated with any Partnership horse.
6. Extraordinary Meetings
From time
to time, there will be major decisions to be made in relation to the racing
future of the Partnership horse. Such decisions may include: retirement and
associated choices, change of trainer or major surgical procedures.
An extraordinary meeting regarding a particular item may be called by
Members where 75% of those Members communicate in writing with the Manager
of the need for a meeting to discuss a particular point. The Manager may
also, at his sole discretion, call a meeting of Members.
Due to geographical and time limitations, such meetings may be conducted via
email, telephone or whatever is appropriate in the circumstances. Depending
on the urgency of the decision, Members will be required to respond in
writing within a defined timeframe.
In line with Racing Victoria regulations, a decision at such extraordinary
meeting is deemed to have been passed where 51% of the Members reach
agreement on a proposed outcome. No further discussion in relation to that
vote will be immediately entertained.
7. Monthly fees - definition
Monthly fees means the Calendar Monthly expenses payable in respect of the Partnership shares held and payable on account of and including breaking in, stabling, training, racing, floating, spelling, agistment, veterinary services, farrier, racing colours, bulletins and other communication, postage, management, accounting expenses and all other costs associated with the Partnership.
8. Monthly fees
Monthly fees
are non-negotiable and payable monthly from the date the Partnership
paperwork is received by Clanbrooke Racing, or as per prior arrangement.
Monthly fees are costed on a per annum basis and are therefore payable 12
months of the year - even when the horse is spelling. A reconciliation is
performed at the end of a preparation - or annually if the horse is not
racing. Copies of the reconciliation will be sent where requested. Monthly
fees can be varied by the Manager by notice in writing, based on actual
costs. An adjustment can be made either way following a reconciliation and
Members (both owners and lessors) remain accountable for their respective
(%) share of actual costs at all times.
Please note: Clanbrooke accounts are audited annually as a requirement under
our ASIC license.
9. Payment of monthly fees
Members
must elect to pay monthly fees via either Direct Debit or Credit Card (forms
supplied within Partnership Owners Agreement). Both Credit Card and Direct
Debit transactions are processed on the 15th of the month for that month.
i.e. payments are made two weeks in arrears and two weeks in advance.
Please note that for administration purposes, Members are invoiced quarterly
and invoices are distributed via email. As most monthly fees do not change
from month to month, the decision to invoice quarterly is purely a time
saving mechanism. Members are fully aware of the monthly fee payable when
they join the Partnership and this amount can be amended only in writing.
Although we invoice quarterly, Members are not required to pay quarterly. As
explained above, training fees are payable monthly on the 15th,
two weeks in advance and two weeks in arrears.
10. Overdue Accounts
Clanbrooke
Racing reserves the right to simply remove from a customer, without prior
notice, any share that remains entirely unpaid either in full or in part (as
arranged), thirty days after the relevant paperwork (including Owners
Agreement and Direct Debit or Credit Card application forms) is received by
Clanbrooke. As such, new Members MUST make either a one third payment (as
arranged) OR payment in full for the purchase price of the share within the
first thirty days of Membership.
A prospective Member is not considered a Member of the Partnership until all
relevant paperwork has been returned to Clanbrooke and the share has been
paid in full. Until payment is tendered, the prospective Member has no
ownership rights and Clanbrooke reserves all rights in relation to the
share/s including the right to sell and any rights to prizemoney.
In the case that a monthly Direct Debit or Credit Card transaction does not
go through, Clanbrooke will double the Debit/Credit amount for the following
month and a $10 administration fee will be charged. If the second payment
does not go through, the Member has 7 days to pay any
outstanding amount or face forfeiture of the share.
Clanbrooke Racing reserves the right to claim any prize money of a
Partnership Member who is more than thirty (30) days in arrears for Monthly
Fees. Clanbrooke Racing reserves the right to re-sell shares that are more
than thirty (30) days in arrears, provided that the Member has been notified
of such action at least 14 days prior.
Where Clanbrooke is required to alter registration papers when an owner has
been removed because of an overdue account, an administration fee will be
added to the outstanding total as follows: $110 Racing Victoria set fee for
an owner removing him/herself from a Partnership plus $60 administration
charge (total $170).
Where a Member has been removed from a Partnership due to an overdue
account, Clanbrooke will commence debt recovery procedures immediately.
11. Withdrawal from Lease Partnership
If a Member
wishes to withdraw from a Lease Partnership, he or she must give 30 days
notice in writing and ensure that any outstanding fees are paid in full by
this date. Failure to do so will result in debt recovery on behalf of
Clanbrooke.
Where Clanbrooke is required to alter registration and/or lease papers where
an owner or lessee has simply withdrawn from a Partnership, an
administration fee will be applicable as follows: $66 Racing Victoria set
fee for lessees plus $60 administration (total $126) and $110 Racing
Victoria set fee for an owner removing him/herself from a Partnership plus
$60 administration charge (total $170).
12. Extraordinary share offerings
There may
be occasions when a share in a Syndicate or Partnership becomes available.
Such shares may be offered to existing Members at the current market value
and, if not taken up, offered to outside parties.
Where shares are owned (not leased) by the Member, that Member has the right
to sell his share to any prospective purchaser for whatever consideration
the two parties agree upon. However, any purchaser must be approved by
Clanbrooke Racing and the new owner must abide by all existing Clanbrooke
Racing Terms and Conditions. Where a transfer of ownership is required, an
administration fee will be applicable as follows: $110 Racing Victoria set
fee for an owner removing him/herself from a Partnership plus $60
administration charge (total $170). Such costs are borne by the outgoing
Member or as arranged with the incoming Member.
In the event that the Manager disposes of a share - or
all shares on behalf of a Member/s, a commission of 8% is due and
payable to the Manager.
Clanbrooke is under no obligation to sell Members' shares and Members remain
liable for the payment of monthly fees until they find a buyer or relinquish
their shares as agreed with Clanbrooke Racing.
13. Prizemoney
All
prizemoney is accumulated in the Partnership Bank Account and distributed
when the Partnership horse goes for a spell, as long as the total
distribution exceeds $200 per Syndicate Member and, of course, subsequent to
the receipt of the cheques/payment from the race clubs and the
reconciliation of the Partnership bank account.
Trophies for any Black Type races remain the property of Clanbrooke who may,
at its discretion, have a draw for ownership of the trophy.
If a non-Black Type trophy is won by a Partnership horse, all financial
Members' names will be put into a hat and the winner drawn from it. All
previous winners will be exempt from subsequent trophies until the cycle
begins anew.
At the conclusion of a Partnership, any remaining funds (including
prizemoney) will be distributed accordingly after all outgoing and
associated Partnership costs have been settled and a reconciliation has been
completed.
Please note that it can take up to twelve weeks after the end of a
Partnership for final bills and subsequent reconciliation to be completed.
14. End of Partnership
At the
conclusion of a Partnership, any remaining funds (including prizemoney and
proceeds of sale if applicable) will be distributed accordingly after all
outgoing and associated Partnership costs have been settled and a
reconciliation has been completed. Copies of the reconciliation will be sent
where requested.
Please note that it can take up to twelve weeks after the end of a
Partnership for final bills and subsequent reconciliation to be completed.
9. Merchandise
Clanbrooke has a range of Merchandise available including polo shirts, reversible vests, racing jackets and caps. Descriptions and photos can be viewed on our Merchandise page. Please contact the office if you wish to place an order.
10. Refund Policy
It is important to note that refunds will not be issued where a horse fails to live up to expectations or does not in fact race. The description we provide is the best information we have and offered in good faith.
11. Complaints Handling
We take complaints very seriously and will do everything possible to resolve
any complaint or dispute in the fairest possible way. In the first instance,
complaints should be addressed to Clanbrooke via email to
dean@clanbrooke.com
or via telephone +61 3 9540 0317 or in writing PO Box 6024, Vermont South,
3133, Victoria. If a satisfactory resolution cannot be reached, complaints
should then be forwarded to Racing Victoria.
Clanbrooke Racing is happy to abide by any subsequent decision.
