Quest Thoroughbreds
Syndicate Terms and Conditions 

Updated: 2025-12-09

1. Definitions 

• Member: An individual or entity who holds one or more fractional ownership shares in a horse (or multiple horses) under the management of Quest Thoroughbreds Ltd.

• Shareholding: A defined percentage of ownership in a specific horse, entitling the Member to rights such as prize money, attendance, and communications as outlined in these Terms.

• A Member may hold multiple Shareholdings across different horses or multiple Shareholdings within the same horse.

2. Introduction 

Welcome to QUEST Thoroughbreds Ltd (“Quest”). These Terms and Conditions govern your participation as a Syndicate Member. By making your first payment (for new members) or continuing your monthly payments (for renewing members), you confirm your acceptance of these Terms.

Our goal is to enable the thrill of racehorse ownership through fractional ownership, delivered with performance, pace, passion, and professionalism.

Important Note:
Participation in the Syndicate is for enjoyment, experience, and involvement in the sport of horse racing. It does not guarantee any financial return or profit, and Members should enter into the Syndicate with this understanding.

3. Your Ownership Share(s) 

You own a fractional share (or shares) in a specified horse or horses managed by Quest. Members may hold one or more Shareholdings in a single horse or across multiple horses. Each Shareholding is governed by these Terms and entitles the Member to associated rights on a per-horse basis.

Members will be issued a digital Certificate of Ownership specifying their share percentage in each horse.

You will be able to attend races where your horse(s) is/are entered as an owner (subject to badge availability). This entitles you to enter the owners/trainers areas and the lounge with complimentary food.

Your Shareholding entitles you to a proportionate interest in prize money, less standard industry deductions (trainer, jockey, and stable bonuses), and any extraordinary costs (see Section 5).
Your Shareholding also entitles you to a proportionate share of proceeds if/when the horse is sold.

Ownership is held under Quest Thoroughbreds Ltd. The horse will race in the name and silks of Quest Thoroughbreds Ltd.

Rules of Racing Compliance:
By participating in the Syndicate, all Members acknowledge that they are subject to and must comply with relevant provisions of the British Horseracing Authority (BHA) Rules of Racing, specifically:

• Chapter J – Integrity

• Chapter L – BHA Investigations and Disciplinary Action

These provisions may change from time to time, with notice provided by the BHA to Quest as Syndicator.

4. Payments 

• Initial Membership Fee: Covers your one-off membership fee and the first monthly fee, unless otherwise stated. This varies per horse and is non-refundable. For some horses this may cover multiple monthly fees upfront, and if so this will be clearly specified.

• If a horse is purchased at public auction, the sale price and all associated purchase costs (including commissions, transport, insurance, and vetting) will be transparently passed on to Members.

• If a horse is purchased privately, the cost (and associated costs) of acquiring the horse will likewise be passed on to Members.

• Monthly Fee: Covers standard ownership costs, including but not limited to training fees, routine veterinary care, racing fees, and administration.

• Payment Acceptance: Your payments constitute full acceptance of these Terms.

• Payment method: All payments to Quest Thoroughbreds Ltd must be made electronically via our approved payment methods (e.g., bank transfer, direct debit, or card payment). Quest does not accept cash payments under any circumstances. Members are responsible for ensuring payments are made through an accepted electronic method and received on time.

• Late or Non-Payment: If payments are more than 30 days overdue, ownership rights (including communication updates and race attendance) may be suspended.  After 60 days, Quest Thoroughbreds Ltd. reserves the right to reclaim and resell the share, without refund.  Interest may be charged on overdue payments at 8% above Metro Bank’s base rate.

Remuneration to Syndicator and Third Parties:
Quest Thoroughbreds Ltd will receive remuneration in connection with the administration and management of the Syndicate.

• Any remuneration or commissions received by Quest or third parties (e.g., trainers, agents) will be disclosed in writing to Members.

• Quest Thoroughbreds charges an administration fee of 10% of the total monthly income per individual horse, which is to cover syndicator remuneration, accountancy fees, as well as bank fees and other administrative costs. This will be withdrawn and managed from the monthly income for each horse and will be reflected on the financial report produced to each owner upon the sale or retirement of the individual horse.
• When a horse is sold, Quest Thoroughbreds Ltd. takes a 5% commission on the sale price as well as 5% to the trainer.

5. Extraordinary Costs 

While the monthly fee covers standard projected costs, extraordinary costs may arise (e.g., major veterinary treatments, significant transport costs, additional insurance or regulatory fees).

Quest will first deduct any extraordinary costs from available prize money before distribution. If prize money is insufficient, Quest reserves the right to invoice members for a proportional additional contribution based on their Shareholding in the affected horse only. Additional contributions will be requested only as a last resort and communicated transparently.

If major veterinary surgery is required, it will be agreed in advance by the majority of Members unless life-threatening, in which case the decision rests with the trainer in consultation with the attending vet.

Aside from veterinary costs, any race entry costs exceeding £50, including overseas races with transport, will be charged at cost price. These costs will be deducted from final prize money payouts at the end of your contract. If the horse does not earn enough prize money to cover these entries, any negative balance would not be charged to you.

Should any other extraordinary costs arise, prize money will always be used first. Members will be kept well informed as and when this may occur.

6. Prize Money 

Prize money will be distributed annually (typically around September), or sooner if a horse is sold.

• Deductions will apply as per BHA standards (trainer 10%, jockey 10%, stable 3%).
• 5% of any prize money accrued will be deducted towards running costs of Quest Thoroughbreds Ltd.

• Extraordinary cost deductions, if applicable, will be clearly itemised.

Prize & Appearance Money Handling:
All prize money and appearance fees earned will be treated as syndicate income and distributed proportionally to Members after deductions.
Where applicable, VAT will be applied in line with current regulations and will be detailed in financial statements.  

7. Racing and Training Decisions 

All decisions regarding training, entries, running, and selling are made by Quest Thoroughbreds Ltd. in consultation with trainers, acting in the best interest of the horse and syndicate.
Members will receive regular updates via email, WhatsApp, and other agreed channels.  

8. Owners’ Badges and Racecourse Attendance 

Quest will endeavour to secure Owners’ & Trainers’ badges for syndicate members when a horse runs.
A ballot system will be used where demand exceeds supply (each 2.5% share equals one ballot entry).
Additional badges may be available for purchase at discounted rates where possible.

9. Insurance & Risk 

Unless specifically stated, insurance (e.g., mortality or veterinary insurance) is not included.
Members accept the risks associated with racehorse ownership, including the possibility of injury or loss without compensation.

10. Termination of Membership 

Membership continues until:

• The horse is retired or sold
• A Member voluntarily leaves the syndicate (60-day notice required)

• A Member is removed due to breach of these Terms

If an offer is received to purchase a horse during the syndicate term, Quest Thoroughbreds Ltd. and the trainer will decide whether to accept. A 5% commission on the sale price is payable to Quest Thoroughbreds Ltd., and 5% to the trainer.

Quest will manage the orderly sale or transfer of membership and the fair distribution of proceeds.
Members wishing to transfer a Shareholding must notify Quest in writing. Transfers are subject to approval and regulatory compliance.

11. Communication and Updates 

Regular updates will be provided regarding your horse’s progress. Quest will communicate via email, WhatsApp, or other agreed platforms. Major decisions such as sale or retirement will be clearly communicated.

Syndicate Bank Account Disclosure:

• The Syndicate’s funds are held in a dedicated bank account registered as below:

Bank: METRO  

Bank Name: QUEST THOROUGHBREDS LTD.  

Account Number: 54450435 

Sort Code: 23-05-80

• The authorised signatories are: JORDAN HOPKINS

Cost and Expense Statements:

• Syndicate cost and expense statements will be presented to Members quarterly (January, April, July, October), or more frequently as needed.

• Statements will include all costs incurred, money recovered, applicable VAT, and a breakdown of prize/appearance earnings.

• Statements will be provided via email or through a secure online member portal if available.

12. Dispute Resolution 

In the event of a dispute, members should first seek resolution through communication with Quest Thoroughbreds Ltd.
If unresolved, disputes may be referred to independent mediation.

13. Horse Retirement & Rehoming 

In the event a horse must be retired, no forward sale will occur. Quest will prioritise the welfare of the horse and seek a suitable rehoming option outside of racing.

14. General Terms 

• Governing Law: These Terms are governed by the laws of England and Wales.

• Data Protection: Personal data will be processed in accordance with Quest’s Privacy Policy.
• Image Use & Event Photography: Quest Thoroughbreds Ltd routinely takes photographs and video content at races, yard visits, member events, and other activities connected with the Syndicate. By participating in the Syndicate and attending such events, Members acknowledge and consent to Quest using these images and recordings—where they may be identifiable—for promotional, marketing, and communication purposes, including use on websites, social media, and printed materials.  If a Member prefers not to appear in such content, they must inform Quest Thoroughbreds Ltd in writing in advance of attending an event, and Quest will make reasonable efforts to accommodate this preference.

• Changes: Quest reserves the right to amend these Terms, with prior notice provided to Members.

• E&O: Errors and omissions excepted.

15. Referral Partner (“Affiliate”) Programme Terms

15.1 Definitions

• Referral Partner means any existing Member or approved partner who has applied for and been accepted into the Quest Thoroughbreds Referral Programme.
• Referred Customer means a new customer who purchases a share in a Quest Thoroughbreds syndicate using a valid Referral Partner coupon code.
• Commission means the fixed £50 payment earned by the Referral Partner for each qualifying share purchase using their coupon code, alongside the £50 discount applied to the Referred Customer.

15.2 Eligibility
The Referral Programme is open to all existing Members and approved partners. No geographic restrictions apply. Quest may approve, decline, or remove participants at its sole discretion.

15.3 Referral Requirements & Attribution Rules

• For a referral to qualify, the Referred Customer must enter the Referral Partner’s unique coupon code at checkout.
• Referral links and tracking cookies may support marketing activity but do not qualify a referral unless the coupon code is used.
• The coupon code always takes precedence where multiple tracking sources exist.
• Commissions are applied only to completed and cleared share purchases.
• Cooling-off period: A referral becomes valid only after a 7-day cooling-off period following the sale. If the share purchase is cancelled, refunded, or rescinded during this period, no commission is payable.
  

15.4 Commission Payments

• Commission payments are made monthly via PayPal.
• Unless otherwise notified, no minimum payout threshold applies.
• If a sale is reversed before the payout date, the associated commission will not be paid.
• VAT: Quest Thoroughbreds reasonably assumes that affiliate commissions linked to share sales fall outside the scope of VAT due to the VAT-exempt nature of syndicate structures. If HMRC guidance changes, Quest may adjust the tax treatment of affiliate payments accordingly.
  

15.5 Branding, Marketing, and Conduct Requirements
Referral Partners may:

• Use Quest Thoroughbreds branding materials expressly supplied or approved by Quest.
• Promote their coupon code publicly on personal or business social media.
  

Referral Partners must not:

• Use paid advertising including Google Ads, paid social ads, boosted posts, or similar methods.
• Use Quest logos, images, photography, or copyrighted assets without prior written approval.
• Make any misleading, inaccurate, or non-compliant statements regarding Quest.
• Imply or suggest that shares represent an investment, financial product, or income-generating asset; Quest shares are strictly for enjoyment and participation in horse racing.
• Publish their coupon code on public voucher, discount, cashback, or coupon-sharing websites, or any site designed to aggregate promotional codes. Any such appearance may result in suspension and invalidation of related commissions.
  

Quest may direct Referral Partners to amend, remove, or correct content that does not meet these standards.

15.6 Suspension or Termination
Quest may suspend or terminate Referral Partner status immediately and without notice in cases including, but not limited to:

• Fraudulent or manipulative activity
• Misuse of coupon codes or prohibited distribution
• Misleading claims or brand misrepresentation
• Breach of these Affiliate Terms or the main Terms & Conditions
  

Quest may modify or discontinue the Referral Programme at any time.

15.7 Relationship to Main Terms & Conditions
These Affiliate Programme Terms form part of the Quest Thoroughbreds Syndicate Terms & Conditions. Where inconsistencies arise, the main Terms & Conditions prevail.

15.8 Liability & No Guarantee
Quest makes no guarantee of referral volume, earnings, programme continuation, or commission structure. Quest shall not be liable for indirect or consequential losses arising from participation in the Referral Programme.

16. Changes and Updates

Quest Thoroughbreds reserves the right to amend these terms and conditions at any time.

Thank you 

Thank you for joining Quest Thoroughbreds. We’re excited to share the passion, pace, and performance of racehorse ownership with you — in a professional but informal way.

Quest Thoroughbreds Ltd
Performance. Pace. Passion. Professionalism.