Syndicate Terms and Conditions
1. Definitions and Interpretation
1.1 Horse means the competition horse forming the subject of the syndicate.
1.2 Rider means the appointed rider of the Horse, who shall have full authority over all horse-related decisions.
1.3 Syndicate means the collective group of Members holding shares for the duration of the Syndicate Term.
1.4 Syndicate Term means the fixed period specified at the commencement of the Syndicate.
1.5 Share means the proportional membership interest held by a Member during the Syndicate Term only.
1.6 References to statutes or regulations include amendments and re-enactments from time to time.
2. Syndicate Membership and Payment
2.1 Membership is granted upon receipt of a single, one-time payment for the full Syndicate Term.
2.2 Membership fees are non-recurring and do not constitute instalments unless expressly agreed in writing.
2.3 No automatic renewal shall occur at the end of the Syndicate Term.
3. Nature and Duration of Ownership
3.1 Any ownership interest held by a Member exists strictly for the duration of the Syndicate Term.
3.2 Upon expiry of the Syndicate Term, all Shares are automatically extinguished, and Members shall have no further legal, beneficial, or equitable interest in the Horse.
3.3 Members shall have no entitlement to proceeds from sale, transfer, or continued use of the Horse following expiry of the Syndicate Term.
4. Management and Authority
4.1 Horse Management. All decisions relating to the care, training, welfare, competition schedule, veterinary treatment, rest, retirement, or sale of the Horse are the sole responsibility and absolute discretion of the Rider.
4.2 Syndicate Management. The Syndicate Manager is responsible solely for administrative management of the Syndicate, including communications, financial administration, and organisation of yard visits.
4.3 Members acknowledge that they have no right to direct, influence, or challenge decisions made by the Rider.
5. No Refunds
5.1 Membership fees are non-refundable once the Syndicate Term has commenced.
5.2 No refunds shall be issued for withdrawal, dissatisfaction, injury, illness, loss, death, or retirement of the Horse.
6. No Guarantee of Financial Return
6.1 Membership is entered into for enjoyment and involvement in competitive equestrian sport only.
6.2 No representation or warranty is made that the Member will receive a financial return or recover their membership fee.
6.3 This Agreement does not constitute an investment, collective investment scheme, or regulated financial product under UK law.
7. Force Majeure
7.1 Neither the Syndicate Manager nor the Rider shall be liable for failure or delay in performance caused by events beyond reasonable control, including but not limited to acts of God, disease outbreak, government restrictions, changes to competition rules, or cancellation of events.