Racing Victoria, the Victorian Thoroughbred Racehorse Owners Association (TROA) and the Australian Trainers Association (ATA) have been working for several months on a new proposal to improve debt collection for trainers and provide a quick and inexpensive Industry dispute resolution process for trainers and owners.
This issue is intended to be resolved in a co-ordinated way and is already being jointly addressed and discussed with Racing NSW, the Australian Thoroughbred Racehorse Owners Association (ATROC) and other parties.
The proposed reforms are intended to bring the regulation of the relationship between owner and trainer and also between joint owners into the 21st Century. The prime objective is to formulate an appropriate model incorporating a binding mechanism between trainers and owners.
We will continue to update you on progress, but obviously reforms like this take a number of months to resolve, agree and implement. It is anticipated that these reforms will be rolled out in the 2014 calendar year.
In the interim, it is important that trainers ensure they have clear binding agreements with owners and that debts are properly followed up rather than being left until too late to chase. Many problems Racing Victoria sees are as a result of a trainer not having documented the ownership arrangements with the owners of the horse. It is obviously more difficult to resolve a dispute without an appropriate written agreement in place between the parties.