Jersey sailing trust  

                                                                       ...............getting people afloat

 

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PREMIER CREW

(Draft) TERMS & CONDITIONS 

Membership:

bulletTwenty maximum
bulletApplication subject to approval by the Directors and the Trustee of the Jersey Sailing Trust.
bulletMonthly Subscription £50.00. Subject to annual review by the crew members upon recommendation provided by the Directors of the company that owns the vessel.

Structure:

bulletCompany, Share held by Trustee of the Jersey Sailing Trust
bulletIt is intended to operate as a “Not for Profit" organisation and will not be registered as a charity.
bulletThree Directors,
bulletResponsible for:
bulletthe management of the company
bulletthe finance
bulletthe marketing
bulletthe yacht
bulletTo include
bulletMarine mortgage
bulletInitial capital loan
bulletLimited liability
bulletGuarantee the debts
bulletNon salaried, ( but to recover all expenses )
bulletLoans from members are negotiable and include option to receive/charge interest.
bulletMeetings
bulletMay be informal
bulletConducted and recorded by email.
bulletNotice of meetings.
bulletEvery first Tuesday of the month.
bulletMay be delayed by seven days or reconvened the following day ( Wednesday)
bulletAssets
bulletIdentifiable items will become the property of the company
bulletEither as a gift or a donation or a sale to the company.
bulletNo item should be considered as a loan item for two reasons.
bulletHarbours would interpret that as a vessel for potential reward.
bulletRisk of damage to loan items is un acceptable.
bulletIf an item is made available to the company then it becomes the property of the company and the Directors will recognise a cash obligation to the provider.
bulletNo items shall be considered as being deposited with the company unless a signed acknowledgement is provided by the Directors.

NB. (a) Naqapan belongs to the JST and the JST recognises that a loan has been provided by the former owners of the yacht.

      (b) A Garmin 450 GPS has been made available for Raddedas and a loan is recognised as being due the item having been provided by the former owner.

Each of these examples could be “converted” into a gift or donation by written transfer from the former owner.

bulletFunding
bulletPrimary Funding of the principle asset will be a Marine Mortgage provided by Acorn Finance.
bulletCurrently this is an Interest Only facility
bulletSupported by Personal Guarantee of the Directors
bulletSecondary Funding for the periodic expenses that are in excess of the Subscription Income are provided by the Directors as individuals, as personal circumstances allow.
bulletAn incoming Director should be aware that an obligation could exist whereby they may be relied upon to support the expenses in order to maintain solvency of a non-profit making organisation.
bulletAdditional Directors could be appointed to provide additional loan capital.
bulletWilling Directors could be asked to stand Guarantors for additional bank facilities.
bulletIn the event that an item is available through a Hire Purchase Agreement it should be recognised that the item belongs to the company. Any funding for that item will be considered as being from Subscription Income or a Directors Loan made specifically available for that item.
bulletReservations
bulletPremier Crew
bulletInitially it will be unregulated, but if the allocation of berths or crew places is judged by the Directors o be coveted, biased or excessively in the favour of a few individuals then the Directors reserve the right to impose a quota and rota system on the frequency of each members participation.
bulletNon Premier Crew
bulletIt is expected that there will be crew places available by virtue of the fact that not enough Premier Crew wish to exercise their automatic right. Therefore, un-reserved crew places will be made available to members of the Jersey Sailing Trust who are not specifically subscribing to the programme. In these circumstances an ordinary JST member will pay the full Cruise Fee or £15.00 ( until amended by the Directors) for the sailing event, whichever is the greater.

 PREMIER CREW

bulletBasic Membership
bullet£50.00 per month by Standing Order
bulletAll “A to A” sailing events i.e. Bay sailing, Round the island, Gorey, Minquiers Bouy etc.
bulletOrdinary Vote on destinations
bulletCruising Fee payable to cover fuel, marina fee and provisions
bulletPremier Guarantor
bulletStand as Financial Supporter
bulletExecutive Vote on purchasing and disposal of asset directly supported by their Guarantee. Including impact on income. Revenue, cashflow etc.
bulletPremier Director
bulletProvide management and supervisory skills
bulletSecretarial
bulletMarketing
bulletAccounting

 

NOTE.

bulletSkippers are non-executive members and subject to the direction of a Director.
bulletOperation of each vessel is at the discretion of each Skipper and no obligation shall prevail over the Skipper to undertake any cruise which the skipper considers to be hazardous.

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