BREEDERS CHALLENGE FUTURITY 2010 AUCTION RULES
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2011 BREEDERS CHALLENGE AUCTION RULES

General Rules: The Breeders Challenge Auction and Futurity is an LLC, State of Iowa.  Any rules herewith can be changed, added to, or deleted at the discretion of the Breeders Challenge Futurity Board of Directors.

This corporation’s purpose is to promote the Pony of the Americas.

Prize Money:  All proceeds from the sale of the stallion services, minus 20% (to be used for operational expense) will be used as “prize money”.  Accumulated interest from money received through the stallion service  auction will be used to pay expenses.

Eligibility:  Only “foals” resulting from stallion fees purchased on the Breeders Challenge Stallion Auction and the stallion donator will be eligible for the weanling purse.  However, ALL yearlings and 2-year-olds sired by stallions whose fees sold on the auction will eligible for the yearling and two-year-old classes.

Stallion Owners Obligation:

• Stallion contract must be signed and returned to the Futurity Secretary on or before the Auction.  A photocopy of the stallion’s papers must accompany the contract and owner must agree to file a stallion report with the POAC home office.

• The contract must be accompanied by a video, poster, pictures or other promotional material for a display at the stallion auction.

• Stallion owner may show one foal for each stallion service sold and paid in full.  The stallion owner may purchase his own stallion fee thus allowing him two entries.

•  If the purchaser of the stallion fee defaults payments, the stallion owner has the option of paying the balance to maintain eligibility in the Auction.  The stallion owner will then have two eligible entries.

• The stallion owner must nominate his mare(s) on or before January 1st of the foaling year.

• The secretary will notify the stallion owner if purchaser has not paid the stallion fee in full.   If money is still owed,  the breeder certificate will not be issued.

Starting Bid:  Starting bid must be one half of the advertised stallion fee (or greater) with a minimum starting bid of $250.00.  If the advertised fee is Private Treaty, then the minimum starting bid is $250.00.  Only one service fee per stallion may be auctioned.  If there is a chute fee, it must be declared on the Breeders Challenge Futurity stallion contract.

Unsold Services:  Services not sold at the Breeders Challenge Auction can be sold by the Breeders Challenge Futurity Board of Directors to a bidder up to July 1st with all payments due paid to date of purchase.

Payments:  All stallion auction fees will be paid by cash, personal or cashier’s check.  No Breeder’s Certificate will be issued until purchaser’s account is in good standing with all moneys paid.  Terms:  25% down payment,  with the balance due in 3 equal payments due on the 20th of the following months.

Unpaid Services:  If a previous year’s stallion fee purchase is not paid by the current year auction, any new purchases must be approved by the BCF Board of Directors.  Any stallions fees not paid by July 31st of year due, the stallion owner has the right to pay the remaining balance to maintain his stallion’s eligibility and he will then have two eligible entries.  Any service fee purchased and not paid for in full, the purchaser will forfeit their right to participate in the futurity, shall not receive a Breeder’s Certificate, and would be subject to penalties from the BCF Board of Directors as they see fit.

Return Services:  Should a mare not conceive the first year of service, the mare will be given return service the second year.  In the case of death of the original mare (or should she prove unbreedable), a substitute mare will be acceptable.  The stallion service fee from the Auction will remain in the year purchased but the foal will be moved to his year of eligibility.  If there are extenuating circumstances concerning a return privilege, the BCF Board of Directors will make a ruling.

Credit:  In the event of the following: death of a stallion; stallion being unserviceable; stallion owner/manager/ or lessee refusing to honor contract for any reason; or should the stallion be moved to an undesirable location, credit will be given to the purchaser the following year for the same amount on another breeding fee purchased through the Auction.  However, if there is no attempt to breed in the appropriate year, then it becomes a forfeit unless there are extenuating circumstances and the Futurity Secretary is notified of the circumstances by August 1st of the breeding year following purchase.  The BCF Board of Directors will discuss the matter and make a ruling.  There are no refunds.  A party may sell his purchased stallion fee by notifying the Futurity Secretary in writing.  By doing so, that party forfeits his right into the Futurity and new party is then eligible.  The fee must be paid in full before it can be transferred.