Northgate Lodge Partnerships
                Agreement & Terms

This section is designed to explain how Northgate Lodge Partnerships are run and includes a copy of the standard partnership agreement.

You can view our partnership agreement by clicking the link at the bottom of this page. However, a simple outline of how the partnerships function appears below:

Overview

Each Northgate Lodge partnership consists of a maximum of 12 partners. For each share there is an initial payment which is payable on application followed by a fixed monthly payment to cover training, racing and partnership expenses

You may purchase more than one share and you may also purchase shares in one or more of the partnerships. The partnership payments cover the purchase of the horses, VAT, insurance, all promotion, registration and start up costs, as well as training and racing costs. The partnerships will obtain sponsorship under the rules and in turn qualify for VAT registration. Any VAT reclaimed will be added to and form part of the partnership budget and funds.

Monthly Payments

Although monthly expenses will vary depending on the number of races run
etc, partners contributions are fixed for simplicity. We have found that owners are sometimes deterred from involvement by the fear of being presented with a large and unexpected bill from their trainer. Consequently, each of the partnerships offers a fixed payment structure and a fixed term from the start. Partners can go ahead knowing exactly what their maximum commitment will be. Surplus funds are returned to partners at the end of the term.

Accounting records will be provided showing all surplus funds and adjustments made to the net proceeds due at the end of the term. Each monthly payment will fall due on the 30th of every month, ceasing on 30th November 2009. The monthly instalments are payable by Standing Order and mandates for this purpose will be provided for your convenience.

Partnership Term

The initial term for each partnership will be until 30th November 2009. You will have no obligation beyond this point. Should partners wish to see certain horses continue for a further season, they will be given this option. At the end of the term, horses will either be sold, retained or bought back through the sale ring. In the latter case, the partnership will be reorgansied accordingly. You will never be asked to increase the size of your shareholding or enter into any arrangement you are not agreeable to.

A copy of a standard partnership agreement is available to view by clicking on the link below. This is in PDF format and should you need acrobat reader to view this document please download it free.

If you have additional queries, please do not hesitate to contact us.