PAPERWORK & PAYMENTS
What paper work do I need to join a syndicate? To join one of our syndicates, you'll need to fill in 3 forms-a Standard Syndicate Agreement, an acknowledgement that you've read the Promoters Disclosure Statement and an IntegraPay Direct Debit Agreement-all of which will be emailed to you. Simple.
How can I pay for my share? You can pay for your share by Visacard, Mastercard, EFT (bank account details are on the invoice) or cheque.
How do I pay my fees? All syndicate fees are billed by direct debit from a credit card or bank account on the first day of every calendar quarter by our service provider IntegraPay.
What is IntegraPay? IntegraPay are our billing service providers.
Can I pay my fees in advance? Yes of course. If you would like to get your bills out of the way at once and in advance, we're more than happy to take a six-monthly or annual payment.
Are there any other fees? Yes. A dishonour fee of $38.50 (inc gst) per applies to rejected payments. Similarly, in instances where the client requests an extension of payment date, a service fee of $38.50 (inc gst) also applies..
Can I buy more than 1 share in one horse? Yes of course. You may buy up to 4 shares (or 20%) in as many Grand horses as you like. Most owners do like to have a share in more than one horse-the major benefit being that while one horse is in the paddock, the other could be out at the track earning you prizemoney!
How will I get information on my horse? You can rest assured that Grand Syndicate's communication will keep you right up to date with the progress of your horse. As a Grand Syndicates member, you'll receive specific information on your horse as and when it happens. Closer to raceday, you'll get an email when your horse has accepted for a race, plus a pre race and a post race report from your Syndicate Manager which may also contain trainers and/or jockeys comments and thoughts too..
What colours does my horse race in? All Grand Syndicates horses race in the colours of Black, Gold Star or Logo, Black & Gold Checked Sleeves & Cap.
Can I meet other syndicate members? Of course! We'll go out of our way to introduce you to other members of your syndicate at trial and race days, and also at various social/business functions we hold from time to time in Melbourne, Sydney, Brisbane & Perth.
Do I get free entry to the races? Absolutely! As a syndicate member you're entitled to free entry for yourself and one guest at most racetracks.
Who decides which jockeys ride our horse? The trainer and the Syndicate Manager acting together in their capacity as industry professionals make all regular day to day decisions involving the progress of your horse.
Can I speak to the trainer privately? We prefer that all communications go through your Syndicate Manager. One of his primary functions is to relieve the work load of the trainer from a communications point of view.
When will my horse race? Generally speaking, if a horse is likely to run early, it'll most likely make it's debut between Christmas and Easter of it's 2yo season. This depends on many factors though, the most relevant being the maturity of the young horse...
How much prizemoney do I receive? You'll receive your pro rata share of the nett prize money won by the horse. Nett prize money is Gross prize money less the percentage for the trainer (10%) and the jockey (5%) which is Australian standard rates, in addition to any other deductions witheld by under Local Racing Rules such as Equine & Jockey Welfare etc. Grand Syndicates do not take a percentage of prizemoney with the exception of Stakes or Bonus Race wins.
When is prize money paid out? For all our new partnerships, prizemoney is credited directly to your nominated account from the relevant racing authority.
Do we always give a jockey sling? Jockey slings in appreciation for winning rides may be suggested by your Syndicate Manager in some cases but are entirely voluntary for our clients.
Will my horse be insured? Yes at the time of the syndication and after that policy expires, it's up to the individual syndicate member to decide whether or not they wish to insure their share. Grand Syndicate's can help you find an insurance broker if you wish.
What is covered by insurance? Mortality via accidental death or vets recommendation, and theft.
What happens when the horse is retired? If it's a filly or mare and has breeding potential, it'll be sold off at public auction to the highest bidder. If it's a gelding, he'll be given to a good home to be trained up for an alternative equestrian pursuit wherever possible.
What happens if I want to sell my share? You can place your syndicate share on the market at any time, but of course, it can only be sold if there’s a buyer. Whilst we will always try to match up your share with a potential buyer, we are under no obligation to do so and you are responsible for the financial upkeep of your share as long as you own it.
You are also responsible for any costs associated with the sale of the share. These costs may include advertising, administration, commission on the sale of the share and fees charged by the Principal Racing Bodies (e.g. RWWA) for ownership transfer.
An investment in a racehorse should be viewed as a long term investment at least until the syndicate as a majority deem it should be terminated.
Who names the horse? All members of a new syndicate are invited and encouraged to send in as many name suggestions as they wish. From these suggestions a short list will be compiled and the winning entry will be selected by the Syndicate Manager.
What do I get to show that I own a share in a horse? Your name will appear on the owners record on our website, in addition to being on the official registration papers lodged with RISA. If you've returned your paperwork electronically (via fax or email), you'll have the original paperwork for your records. If you post your paperwork to us, please take a copy for your records.
Will I know who else has shares in my horse? Our policy is not to distribute other members contact details, however their names are on listed on our website. In addition to meeting your fellow owners at the races, we also hold occasional social events which are a great way to meet the other people involved in your horse.
GOT A QUESTION YOU'D LIKE TO ASK? Just email us!