1. Racehorse ownership shall be automatic upon an individual / companies purchase of a minimum 1% share in a racehorse. (Note "share" means a division of a partnership arrangement). It must not be regarded as an investment or security. DIAMOND RACING reserves the right to cancel any share/s at anytime without notice.
2. Each horse will be registered in the name of DIAMOND RACING and carry its registered colours.
3. The trainers will be appointed by DIAMOND RACING, all race plans and decisions will be made by DIAMOND RACING and/or the appointed trainer.
4. Failure to honour the fixed monthly payment on the due date shall result in suspension/cancellation of the share(s)/ ownership. If payment is not rectified within 7 days, ownership will be cancelled and a month's payment will be charged, together with any bank charges levied by our bankers.
5. The share holding of a racehorse will be for 36 months from its initial period of issue. At the end of 36 months the racehorse will be sold at auction with the proceeds distributed amongst the shareholders at that time. Shareholders who have held their share for the 36 months will receive the full value of their share. Shareholders holding their share for a shorter period will receive a pro-rata amount (e.g. if a shareholder joins a syndicate 6 months after inception of that syndicate and pays 30 monthly contributions, they will receive 30/36ths of their share value. (No re-sale payment/monies with LEASE syndicate/s).
6. When a trainer decides a horse is no longer suitable to race, the shareholders should accept such decision and shall attempt to sell via DIAMOND RACING at a value recommended by the trainer. Likewise if the trainer decides to enter the horse in a selling/claiming race and if the horse is subsequently sold, the shareholders shall accept such a situation and the resultant sum shall be distributed equally amongst the shareholders (subject to above pro-rata basis of calculation).
7. In the unlikely event of a horse dying during the period of ownership, the resultant sum paid by the insurance company shall be distributed equally amongst shareholders (on a pro-rata basis as calculated in paragraph 5) if any insurance is taken out on the horse/s.
8. All win and place prize money shall be distributed according to share holding within a period of 14 days of receipt of Weatherbys statements. Resultant sums less than £100 will be held over in the shareholders account and paid once they have exceeded £100 or when the syndicate has come to an end.
9. One month will be deemed to be one calendar month.
10. Racecourses provide four/six complimentary passes. These will be provided on a rota basis. Other shareholders will still have access to the same owner facilities but some form of entry fee to the racecourse will be payable. Subject to an individual racecourses approval owners badges may be provided for owners guests with a fee payable to the racecourse. At major meeting’s we may not be able to provide all owners with a badge should the racecourses restrict numbers. Should this occasion arise, the racecourse will provide us with the number allocated and a ballot will be held to determine who receives the free and discounted badges.
11. The monthly fixed payment is guaranteed not to increase for the shareholding period.
12. The first instalment must be in the form of a cheque or postal order. Standing Order forms should commence from the second month/instalment.
13. To cancel a share, one month's notice must be given in writing (BY RECORDED DELIVERY). This notice must be confirmed by DIAMOND RACING.
14. The information line number is for personal use only. This number is not to be passed on or sold on to a third party. Any person found to be passing on the number will be found to be in breach of contract and have his/her ownership cancelled and any expenses incurred by having the line number changed will be charged. (Maximum £1000).
15. The fixed monthly cost covers all racing costs in the UK. Should a horse run abroad then any additional costs are met from the prize-money account.
16. Any owner/s found/thought to be recruiting/starting their own syndicate or recruiting or inciting DIAMOND RACING owner/s to join alternative syndicates will have their shares holding/s cancelled and no prize/resale money will due. This may also result in legal action being taken.
17. If at the end of the syndicate term DIAMOND RACING or the trainer feel that the horse will not reach a reasonable price at the sales then DIAMOND RACING can invoke the following: (1) – The horse is sold privately via Racing Post adverts etc – (2) – Continue to race the horse/s in claimers, sellers etc until the horse is claimed or bought – (3) – Retire the horse.
18. The racehorse remains the property of DIAMOND RACING LTD.
19. If the horse is on LEASE – there will be no re-sale money.

Last update 10 May 2007