The syndicate agreement is it rock solid?

• The date the agreement was drawn up.
• The names of the group members.
• The appointed manager's name.
• How the numbers will be selected for each draw [i.e. random or constant and whether each member can pick their own numbers].
• How much each member will pay per draw and the corresponding percentage share of any prize.
• What happens if a member fails to pay their contribution at any time [i.e. either they get nothing for that draw if there's a win or they get a percentage of what they would normally get and the rest is shared appropriately amongst the other members].
• If the group has a big win, how the members will decide whether or not they want publicity.

GROUP PLAYING AGREEMENT
The Name Of The Group: _______________________________________________
______________________________________________________________________

Member's         Weekly           % Of        Date     Signature
Name        Contribution (£)    Prizes

[One line per member]

Witness' Signature: ________________    Name: ________________________
Address: _____________________________________________________________
Occupation: ________________________    Date: ___________________

• The agreement must be signed and dated by each group member and should be witnessed by a solicitor, doctor or someone of similar standing and or an organization.
• If the group changes, a new agreement should be drawn up [a right pain this one - even if the draw payments change, you need a new agreement !].
• Copies should be given to each member and the original kept in a safe place [perhaps with the independent witness ?], as the Inland Revenue may require to see it as evidence of the group agreement.