Funds Paid Into RISA Clearing Account

1. SECURITY FOR PAYMENT OF TRAINING FEES MODEL RULES OF RACING AMENDED Trainers & Owners bound by Standard Training Agreement and Joint Owner AgreementTerms By signing Registration of Racehorse (ROR) Form at point of registrationTrainers 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 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 • 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) 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 RISA charges Credit Card or Debit Card or Direct Debit (including Merchant Fee / other Bank Fees) and advises Owner that charges have been applied Note: At law, Cardholder has up to 7 years to dispute charge with their bank. Trainer Carries Liability / Risk of Disputed Transactions. 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 Charge Fails (Second and Final Attempt) Freeze on Stable Returns preventing Trainer moving the horse to another Trainer A B Freeze on Transfer of Ownership preventing Owner from transferring Ownership to another Owner 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) Trainer may pursue legal action 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) Owner profile flagged as having outstanding dispute so additional Horse Registration frozen Note: The new system will be reviewed regularly to assess how it is working with changes and improvements made as required 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.