Interested in buying a racehorse? An introduction to syndicates and what you need to know
Did you know that 1 in every 254 Australians own a share in a racehorse? The growing interest in the sport is not only driven by the fascinating beauty and power of thoroughbreds, but also a large increase in prizemoney awards across Australia. Whether you are a seasoned racehorse owner, or new to the concept of syndication, it’s important to consider some key issues before you invest.
Problems post-purchase: horse sale disputes
The joy of a new horse can sometimes be overshadowed by the discovery of soundness or suitability issues after purchase. The risk of these issues leading to expensive and stressful disputes is problematic for both buyers and sellers.
Agistment centres and the power to sell abandoned horses
Horse ownership would not be possible for many without the service that agistment centres provide. Providing such an important service to the horse industry does come with risks, including unpaid agistment fees and abandoned horses. What can the agistment centre do with an abandoned horse?
Want to become a horse riding instructor? Here’s one thing you should be aware of
If you are thinking about becoming a horse riding instructor, or giving lessons to friends, you have probably already considered how much to charge and your chosen discipline. But have you thought about how to protect yourself if things go wrong?
Key risks for agistment centres and training stables
Agistment centres and training stables are exposed to a large number of risks daily due to the nature of the business. Some of these risks could have devastating financial and reputational consequences. Well drafted contracts reduce the risk of time consuming, stressful and expensive issues and disputes arising. Your contracts should be drafted specifically for your business to have maximum effect.
