SECURITY FOR PAYMENT OF TRAINING FEES MODEL
RULES OF RACING AMENDED
Trainers & Owners bound by Standard Training
Agreement and Joint Owner Agreement Terms
By signing Registration of Racehorse (ROR) Form at point of
registration Trainers and Owners agree to be bound by minimum terms
which standardise and regulate legal relationship between Trainers &
Owners and separately between Owners & their co-owners
(a)
(b)
Private Trainers can opt out
Holder of an “Owner/Trainer” Licence
Employee Trainer employed directly
by Owner funding training operation
At point of Horse Registration (via Registration of Racehorse (ROR) Form) or transfer (via Transfer Form), Owners agree to provide security (Payment Mandate) for payment of training fees
& related expenses with authority given to use Credit Card, Debit Card or bank account Direct Debit in event of default
RISA provide Initial Verification via Payment Gateway to confirm Credit Card/Debit Card is a valid number and not lost or stolen and that bank account BSB is valid (in case of Direct Debit)
Trainer must issue invoice to Owner within 15 days of the end of the month to which the relevant invoice relates
Where payment is not received or the bill not disputed within 30 days of the end of the month to which the relevant invoice relates Trainer may demand
enforcement of Payment Mandate by RISA of the unpaid fees via Credit Card or Debit Card or Direct Debit
Note: Under new Disputes
Resolution System, Owner or
Trainer can apply at ANY
STAGE after issue of Invoice
for dispute to be resolved via
Disputes Tribunal ($250
Lodgment Fee)
RISA charges Credit Card or Debit Card or Direct Debit (including Merchant Fee / other Bank Fees) and advises Owner that charges have been applied
CHARGE FAILS
(Insufficient Funds / Change to Credit Card or Debit
Card or Direct Debit)
Alternative Payment Sourced
OR
Funds Paid Into RISA Clearing Account
FUNDS PAID TO TRAINER
RISA Informs Trainer. RISA Follows-up Owner for Payment.
A further 7 days allowed for payment
1)
Freeze on Stable Returns preventing Trainer moving the horse to another Trainer
2)
Freeze on Transfer of Ownership preventing Owner from transferring Ownership to another Owner
3)
PRA advised by RISA and freezes Prizemoney Payment to Owner (RISA directs that frozen prizemoney be used
to pay Trainer if funds owing not received within 7 days)
4)
Owner profile flagged as having outstanding dispute so additional Horse Registration frozen
Steps 1 – 4 above implemented by RISA after charge fails and remain in place until payment is received or consented otherwise by the
Trainer or ordered otherwise by Disputes Tribunal.
As a separate protocol unless the existing Trainer consents, steps 1-3 above are implemented by RISA every time an application is
lodged to transfer a horse or move a horse to another Trainer. RISA then checks with existing Trainer if an amount is still owing by the
Owner. Unless existing Trainer objects to horse transferring / moving within two business days, RISA withdraws freeze.
Note: At law, Cardholder has
up to 7 years to dispute
charge with their bank.
Trainer Carries Liability / Risk
of Disputed Transactions.
Charge Fails
(Second and Final Attempt)
A
Trainer (or RISA with Trainer’s
Authority) refers/applies to the
Disputes Tribunal to have the
Rules of Racing applied
against defaulting Owner
(which may include preventing
horse from racing or
transferring to another Trainer
or preventing Owner from
racing horses)
B
Trainer may pursue legal
action
Note: The new system will be
reviewed regularly to assess
how it is working with changes
and improvements made as
required