PROPRIETOR’S RIGHTS TO MONIES OWED
If training costs are overdue, the horse will be removed from training and put on full board agistment at a cost of $270 per week.
In accordance with the Impounding of Livestock Act 1994, the proprietor reserves the right to create a lien over an agisted/training horse immediately there is a default in payment. At this time, a ‘default notice’ will be issued. The horse owner has 28 days from this notice to pay all outstanding fees, then the proprietor will issue a final notice detailing intention to take steps to sell, dispose of or destroy the horse if payment remains outstanding.
A lien is a legal process that gives the proprietor possession over the agisted/training horse, the horse can be held by the proprietor, until money owed on it for agistment/and or training is paid or the horse is sold.
The proprietor will also hold power of attorney over the horse at this time.
The horse owner may not remove horse/s from the property while any part of the agistment, training, veterinary or other debt is unpaid.
The proprietor may claim up to three months of owing agistment fees.
Agistment arrangements can be either written or verbal (spoken).
If the horse owner does not pay the whole of the agistment/training debt as required by the final notice:
- an auctioneer may sell the horse/s, either as one lot or separately, to the highest bidder, on the basis that the purchaser will receive full title to each item sold; and
- the horse owner irrevocably appoints the proprietor as the horse owner’s attorney with power to execute all transfers and other documents and do everything necessary to effect and complete the sale and to pass full title to the purchaser. This includes power to update all documents (for example, the stud books and registration papers) to show the purchaser as the new horse owner. The horse owner is compelled to act in accordance with the law in the exercise of this power of attorney including signing all documents to effect anything done by the attorney.
Before the proprietor exercises the right to sell an agisted/training horse under this agreement:
- some part of the agistment/training debt must be unpaid for at least 14 days after the proprietor has sent the horse owner an account;
- the proprietor must send the horse owner a DEFAULT NOTICE which states the total amount of the agistment/training debt owing to the date of the notice and that the horse will be sold if the agistment debt is not paid in full within 28 days from the date the notice is given; and
The proprietor will use the proceeds of sale to pay, in the following order:
- all sales costs for example, advertising, transport, sale commission and legal costs;
- the agistment/training debt to the date of sale. Agistment will be charged at $270 per week
- any fees which the horse owner owes to the proprietor for any other horses; and
- any balance to the horse owner or as the owner directs in writing. If the balance is not collected within 12 months, it may be dealt with under the Unclaimed Monies Act 1962.
The horse owner remains liable for any residual debt not recovered by the sale.
The proprietor must give the horse owner a final statement detailing the sale proceeds and how the proprietor has applied them. The proprietor will allow the owner access to records of agistment/training costs and proceeds from the sale of livestock for 30 days from sale & disbursement, and any money left over after deducting agistment/training costs.
Notices
A notice may be given by delivering it in person, posting it to the address set out in the schedule for this agreement or as last known to the sender, or sending it by email to the email address set out in this agreement, or as last known to the sender. A notice is considered to be delivered 2 days after it was posted, or if emailed, when the sender’s email program shows the email was sent to the horse owner’s email address.
Notes
Either party must notify the other immediately of they become aware that the horse/s are suffering from any significant or notifiable sickness, disease or injury. The proprietor must not remove agisted/training horses from the property without the horse owner’s consent, except where there is an emergency (for example, fire or flood). In this case the proprietor must promptly inform the horse owner of the new location of the horses. It is the horse owner’s responsibility to insure the horse and horse gear/equipment against all risks while they are on the property or being transported.