SA BOTRA Yearling Sale Credit Application

I, the above mentioned applicant, hereby seek credit for the purposes of bidding on and purchasing a yearling at the 2021 Silver Salver Yearling Sale:

Should credit be granted as a result of this application, the Applicant agrees that such credit is granted on the terms set out below.

Terms & Conditions of Credit

1. Subject to paragraph 2, below, the Borrower shall pay to SA BOTRA the Credit Amount together with any additional amounts included by virtue of this agreement, on or before the Due Date. Failure to make such payment by the Due Date will result in penalty interest becoming due and payable on the total amount outstanding at the rate of 15%p.a. compounded monthly, from the Due Date until paid in full.
2. During the period of Credit the applicant/s agrees to fully insure the purchase/s from the 2021 Silver Salver SA Yearling sale for the full amount of the purchase price and payment to be directed to SA BOTRA to cover the outstanding debt
3. SA BOTRA shall retain the title together with evidence thereof, to all or any horses the subject of this Agreement, until all moneys due and payable to SA BOTRA pursuant to this Agreement, have been paid in full.
4. In the event that the borrowe fails to meet any payment obligations by the Due Date specified in this Credit Agreement, the borrower acknowledges SA BOTRA's right to take all or any action for enforcement thereof available to it. In particular, in the event that the borrower fails to meet any payment obligations by the Due Date(s) specified in this Credit Agreement, the borrower consents to immediately being placed on the Unpaid Forfeits List with the appropriate Harness Racing Authority

I confirm that I have read and consent to the above Terms & Condition of the Credit

OFFICE USE ONLY

Credit Approved By: