4Racing Owners Club Governance Document
DEFINITIONS​
The following words used in this document shall have the meanings set out below:
"Business" - the business of forming, marketing and managing racehorse syndicates as carried on by the company under the trading name 4Racing Owners Club.
"Company" - 4Racing Owners Group.
"General Terms and Conditions" - the terms and conditions set out in this document which governs all 4Racing Owners Club syndicates.
"Horse" or "racehorse" - any horse or lease interest in any horse acquired by the company for the purpose of forming a syndicate.
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"Intellectual Property" - all intellectual property rights now or subsequently owned by or licensed to the company (including without limitation) domain names, patents, trademarks (whether registered or unregistered), registered designs, unregistered designs and copyrights (and any applications for any of the same) which are used in connection with the business and all confidential information so owned and used.
"Members" - all such persons in one syndicate who own shares in the same horse syndicate for whom that syndicate was formed. The term "Member" shall relate to one person in such a syndicate.
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"Share" - means an equal division of the Members share of a syndicated racehorse as determined by the company at its absolute discretion.
"Syndicate" - a racehorse syndicate formed, marketed or managed by the company for the purpose of the business.
"Syndicate Terms and Conditions" - all such terms and conditions issued by the company that vary these general terms and conditions and govern one specified syndicate alone and are described by the company as being specific to that syndicate.
"Terms and Conditions" - means both the general terms and conditions and syndicate terms and conditions in relation to any one syndicate.
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​THE COMPANY
The company carries on the business of forming, marketing and managing racehorse syndicates under the trading name 4Racing Owners Club.
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CONTRACT
The Terms and Conditions form the basis of the contract between the company and the Member. An application by a person to join a syndicate shall be deemed to be an offer to become a Member pursuant to the Terms and Conditions and such application shall only be deemed to be accepted when the company issues a written acknowledgment (such as the issuing of a Member’s share certificate) confirming that the person is a Member and that the syndicate has been formed.
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THE SYNDICATE
The syndicate and all matters associated with it shall be managed by the company whose decisions shall be final, binding on the syndicate's Members and not open to query or appeal. If any person considering becoming a Member is not happy with this, they should please not proceed with their application to become a Member. The company will, from time to time, seek advice and guidance from such persons as Trainers, Vets or such other people as the company may select, to help reach decisions.
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The choice of racing silks and syndicate name will be the company's decision alone.
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The company owns the business and the Intellectual Property. The company derives its income from various sources including managing the syndicate. In the case of syndicates where it is advertised that the share surplus will be sent to a Charity of the company’s sole choice, then only direct expenses relating to the horse and reasonable management expenses will be charged by the company prior to calculating the charitable surplus.
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The Members are the valued clients of the business and all client information is strictly confidential. The data relating to the company's clients are protected by, and subject to The Data Protection Act 1998. Any attempt to access the client database or to obtain any personal information relating to the Members (including for example names, addresses or other personal information) by any means is prohibited.
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THE SHARES
A share buys you into the life of a racehorse for a fixed period of time and therefore the purchase of a share must not be treated as an investment opportunity. It is purely for fun and entertainment and to experience the feel of being “a real racehorse owner”. There is no ongoing value at the end of the syndicate period. 4Racing Owners Club lease a horse in for the syndicate period from the horse’s actual owner.
Neither 4Racing Owners Club nor syndicate Members, ever acquire a “capital” interest in the horse. Actual owners often lease horses to syndicates to defer the annual running costs of a racehorse. Any increase or decrease in the horse’s capital value as a result of anything that happens during the lease period is not relevant to either 4Racing Owners Club or individual syndicate Members.
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Because a racehorse is a living and potentially fragile animal, there can never be any guarantee that he or she will perform sufficiently well enough to win races or to even make a racecourse appearance. The fact that we and the Trainers have carefully selected each horse does not offer a guarantee of the future success of any horse.
A share cannot be purchased by a person under the age of 18.
The company alone determines how many shares are to be offered in a horse or horses.
When the company accepts an applicant's offer to purchase a share, it shall grant the ownership of that share to that applicant for the period of the syndicate term, subject to the Terms and Conditions.
Shares shall not in any way be transferred, given, offered for sale or offered as a gift or otherwise disposed of except as expressly provided in the Terms and Conditions. The shares may not be charged or offered or granted as security to anyone other than to the company. The shares may not be subject to any third party rights or interests.
In acquiring a share a Member does not acquire a share in the company, the company's business or the horse. The legal and beneficial ownership of the business shall at all times remain vested with the company absolutely.
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A Member must only use his/her share for personal enjoyment and must not use the share for any commercial purpose, regardless of whether or not it is a profit-making venture.Where a share is being purchased as a gift for someone else, the donor of the gift is required to nominate a recipient (at the time of payment) who shall be a person over the age of 18 and at the point of purchase, the nominated recipient shall automatically become the owner of the share and shall be bound by the 4Racing Owners Club terms and conditions. All Member’s rights shall belong to the nominated recipient of the gift.
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Where the syndicate is in the process of being formed and the number of shares allocated to Members is less than the number required to form the syndicate (as determined by the company), the company reserves the right not to proceed with forming the syndicate and shall return all monies paid by the applicants.
Alternatively, the company may decide to re-advertise the syndicate, and or to change the structure/financing of the proposed syndicate. No person shall own a share or have any other right to or interest in the syndicate until the company notifies that person that he is a Member and that the syndicate has been formed by the issuing of a Member’s share certificate.
Where the company decides to proceed with the syndicate but not all of the shares have been sold, the company, at its absolute discretion, may sell shares at a higher or lower sum than the original offer price.
In the event of the death of a Member, prior to the dissolution of the syndicate, all rights and liabilities attached to that share shall pass to the personal representatives of that Member's estate.The price payable by the Member for the share, covers all costs associated with racing and training the racehorse, for the duration of the term of the syndicate.
Consumer Legislation gives the Member the right to cancel a new contract they enter into with the company within 14 days of the date it is agreed. A Member can cancel their new share purchase within 14 days of purchase and the company will refund their payment in full.
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Where a Member has opted to pay for their syndicate share on a monthly instalment basis, either by direct debit or recurring PayPal payment, if any instalment remains unpaid thirty (30) days after the due date then that Member’s syndicate share is automatically forfeited, as are any of the benefits of being a syndicate member for the remainder of the syndicate term.If a share is forfeited in this way the Member has no entitlement to a refund under any circumstances in respect of monies paid prior to forfeiture.
Before the syndicate period is due to expire, the company will give an update as to whether we can lease the horse for a further period and if so whether a new syndicate should be formed. Members will then be invited to make a decision whether or not to continue into the next syndicate period and will have the first option to do so before shares are advertised elsewhere.Where the company decides that there are sufficient Members wishing to renew into the next syndicate period to warrant continuation the syndicate may be restructured to cater for a reduced number of Members, rather than disappoint those who chose to renew.
The quantity of shares being sold in the new syndicate will be the same as the previous one, save for occasions when an insufficient number of shares are renewed and a new structure is then formed for the new syndicate.
Where a Member wishes to continue into the new syndicate but owns more than one share, there will be no obligation to retain more than one (1) of the shares owned in that particular syndicate.
Where a share and/or offer period is active, the sale of shares may, at the company's discretion, be suspended or offered on a limited basis.
Where for whatever reason a Member comes out of the syndicate (including where a share has been forfeited due to non-payment of a monthly instalment) or at the syndicate renewal, if applicable, existing Members of the syndicate will be given the first option to purchase relinquished shares, subject to availability.
Where a syndicate is recommended for extension and Members are invited to renew their interest by joining for the new syndicate period, any renewal payment made will be refunded in the event that there is insufficient interest and the company decides, at a later date, not to continue with the extended period for this, or any other reason.
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THE COSTS
Where the company makes a surplus during any syndicate period, or incurs less costs than expected, Members will not be entitled to any refund. Members are not asked for any additional payments where the company incurs costs greater than the price paid by the Members during each term of the syndicate. The price payable by the Member for the syndicate share covers costs associated with racing and training the racehorse and all other expenses. No further payment will be required from any Member.
The price of each horse share sold by 4Racing Owners Club covers:
1. All racing costs. This includes training fees, entry/declaration fees, veterinary fees and all other racing/horse costs.
2. All costs relating to and associated with the management of the syndicate.
MISCELLANEOUS
If we have allocated you an owners' badge we will try to arrange a meeting point. If you cannot make that please aim to meet up with your fellow Members in the very centre of the parade ring twenty minutes before the designated start time of the race. Look out for one of us, the Trainer, or Trainer's representative, and the Jockey, who should appear approximately ten minutes before the race.
Unless you are specifically advised otherwise, an owners’ badge will usually provide access to all public areas around the racecourse. In addition if you are lucky and your syndicate’s horse either wins or is placed then you will also be able to get post-race access to the winners' enclosure. If your syndicate’s horse does not enter the winners’ enclosure you should be able to attend the unsaddling enclosure, where you and your fellow Members can meet the Jockey and Trainer (or their representative) for a post-race debrief. Please only attend the parade ring and winners’ enclosure to see the horse you have been allocated a badge to see, not at any other times of the day.
Horses can be quite boisterous both before and after a race. Great care should be taken around such large and high energy animals. All Members who enter the enclosures do so at their own risk.
Entry costs to the racecourse are normally the responsibility of the Member.
The dress code can vary from racecourse to racecourse and even between meetings at the same racecourse. The dress code is set by the racecourse and is out of our control. The general expectation is smart dress but further details will be found on the individual racecourse’s website. Some racecourses may refuse admission to racegoers who are not dressed in accordance with their dress code. To avoid disappointment, we advise gentlemen to wear a shirt and tie, and smart dress is encouraged for all Members. No denim, sportswear or trainers, please.
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We will arrange at least one organised stable visit per syndicate period so that you can see your horse and the Trainer’s yard facilities. We are unable to offer bespoke visits due to the busy working schedule of the yards. We hope however, that all Members will be able to attend one of our organised visits for which there will be no charge for the registered syndicate Member plus one guest per Member.
Some stable visits may not entirely suitable for disabled visitors and therefore accessibility needs to be checked prior to booking.
We or third parties may from time to time take photographs or video footage at the racecourse or at a stable event. By attending such an event, Members accept that such photography may take place and that it may be used by us or others in the public domain with no payment made to any participant. Members not wishing to appear, need to position themselves behind the camera but there are still no guarantees of exclusion. Members need to be aware that various television companies may show live or recorded scenes at the racecourse or at a Trainer's yard.
Where a declared horse becomes a non-runner in a race we will endeavour to relay this information to Members as soon as possible. However, there could be occasions where we are unable to do this. All decisions relating to entries and declarations are made by us and the Trainer exclusively. Therefore, the company cannot accept any responsibility or liability in relation to a horse not running in a race. A horse can be withdrawn from a race for any number of reasons, including the health/fitness of the horse, or a change to the 'official going'/ground conditions.
All Intellectual Property, including, without limitation, all intellectual property rights relating to the image and name of any horse, the 4Racing Owners Club name, logo and the racing colours are and shall remain legally and beneficially vested with the company alone.The name of the horse is subject to change, usually in situations beyond our control such as if the chosen name is rejected by Weatherbys, after the initial registration is submitted.
THE HORSE
Where applicable, a colt may be gelded, normally upon the advice of the Trainer. The company and the Trainer will have the power automatically granted to make the final decision following such advice.Where a horse does not live up to expectations on the racecourse, or fails to ever make it to the racecourse, the Members shall not be entitled to any refund. However, where prolonged training is not in the best interest of the welfare of the horse, the company may recommend premature closure of the syndicate. If the syndicate is prematurely closed Members will receive a pro-rata refund in relation to the unexpired syndicate period.
THE TRAINER
Choice of Trainer shall be vested with the company alone. The company may decide to change Trainer for any reason whatsoever.All decisions relating to training and racing are normally placed in the charge of the Trainer whilst the horse is in his/her care because we believe that the appointed Trainer will be best placed to make assessments relating to racing and welfare issues. The company pays the Trainer for his or her professional services and therefore normally does not interfere; however, the company reserves the right to override any decision made by the Trainer.
ENFORCEABILITY
If at any time one or more of the provisions of these Terms and Conditions becomes invalid, illegal or unenforceable under any law or is held by a court to be invalid, illegal or unenforceable, the validity and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.
VARIATIONS
The company reserves the right at its discretion to where necessary update, amend or vary the Terms and Conditions from time to time. Members are requested to regularly review the 4Racing Owners Club website where updated Terms and Conditions are posted. All Members will be notified on the 4Racing Owners Club Facebook page when any change is made and Members will be deemed to have seen and accepted such revisions forty-eight (48) hours after they have been posted online.
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LAW AND JURISDICTION
The contract (including for the avoidance of doubt the Terms and Conditions) shall be governed by and construed in all respects in accordance with the laws of England, and the Member and the company hereby agree to submit to the exclusive jurisdiction of the English Courts.
WAIVER
The failure by the Company to enforce at any time or for any period any one or more of the Terms and Conditions shall not be a waiver of them or of the right at any time subsequently to enforce any or all Terms and Conditions.
PREVAILING TERMS
If any provisions of the general Terms and Conditions at any time conflict with any provisions of any bespoke syndicate Terms and Conditions, the syndicate Terms and Conditions shall prevail.Any person who is banned from entering a racecourse and/or 'warned off' by the British Horseracing Authority, cannot become a Member of 4Racing Owners ClubAll text created by 4Racing Owners Club (including, but not limited to, all horse reports and these terms and conditions), as well as all photographic images, both still and moving, including written and spoken words, are subject to copyright law and cannot be copied or transmitted in any format without the company’s prior agreement. The image and/or name of 4Racing Owners Club, in any format, cannot be exploited for any commercial purpose (whether or not for profit). These restrictions include the placing of material within social media sites, such as, but not limited to, Facebook, Instagram and Twitter.
FORCE MAJEURE
4Racing Owners Club provides all of our services online and there may be some occasions during an unexpected event (such as, but not limited to, an outbreak of a disease or bad weather), that renders the company unable to provide some or all of our services. For example, events held at racecourses, stables, etc. may be subject to postponement or cancellation, and/or the website, emails and other services may be interrupted. In such circumstances, we will do everything possible to continue to provide as many services as possible and will try to keep Members updated.
Last updated 25 January 2024
4Racing Owners Club