BUYERS GROUP AGREEMENT:
A Buyers Group is a group of one or more people who pool their money and purchase livestock and Youth Western Art ("Exhibits") at the Rodeo Austin® ("RODEO AUSTIN") Youth Auction or Gala. RODEO AUSTIN has designated Buyers Groups into two categories: Internal and External Buyers Groups.
- Internal Buyers Groups are groups that operate under RODEO AUSTIN's 501(c)(3) corporation.
- External Buyers Groups are groups that are separately incorporated.
Buyers Groups must register annually with RODEO AUSTIN. By agreeing to this document, Buyers Groups are agreeing to all rules as set for by RODEO AUSTIN.. The individual registering the Buyers Group will automatically become the designated contact ("Group Representative").
Internal and External Buyers Groups
Each undersigned Group Representative represents to RODEO AUSTIN that he or she is the duly authorized representative of the Buyers Group and is authorized to purchase sale lots at the Youth Auction.
Each undersigned Group Representative promises individually, jointly and severally to pay all such amounts to RODEO AUSTIN from purchases of sale lots made by any undersigned Group Representative in the name of the Buyers Group.
No person, other than an undersigned Group Representative, shall be authorized to purchase any sale lot in the name of the Buyers Group. Should the Group Representative not be available the day of the Youth Auction, the Group Representative may complete the attached Buyers Group Proxy Form to authorize another individual to make purchases on the Buyers Group's behalf. The Group Representative accepts full financial responsibility for all Youth Auction purchases made by the designated proxy.
Each undersigned Group Representative agrees that he or she is personally liable to RODEO AUSTIN, and promises to pay, jointly and severally, any sum that remains owed to RODEO AUSTIN from any check or other medium of payment, tendered to RODEO AUSTIN by a member of Buyers Group, which is subsequently dishonored.
If funds are paid to RODEO AUSTIN on behalf of a Buyers Group, RODEO AUSTIN shall have the right to apply such funds to all debts of the Buyers Group in the order that RODEO AUSTIN determines at its sole discretion.
If funds are paid by a Buyers Group in excess of amounts then owed to RODEO AUSTIN, such funds shall not be returned but shall entitle the Buyers Group to a credit toward any future purchase at the Youth Auction, or may be used to purchase or pay for other items or events in support of the RODEO AUSTIN mission. RODEO AUSTIN shall not be obligated to apply any credit balance shown on the books of RODEO AUSTIN toward the debt of any person or group other than the Buyers Group unless directed to do so, in writing, by the Buyers Group Representative.
RODEO AUSTIN shall be entitled to rely upon these rules and regulations and to hold the undersigned Group Representative liable for the debts of the Buyers Group to RODEO AUSTIN until notified, in writing, by Group Representative that he or she is no longer a representative of the Buyers Group. Any such notification shall not release any Group Representative from his or her personal liability for debts incurred before such notice is received by RODEO AUSTIN.
If any Buyers Group is not in compliance with these rules, RODEO AUSTIN will not recognize the Buyers Groups and will not allow them to purchase at the Youth Auction. In addition, Buyers Groups will receive one consolidated bill following the event. Individual donors will not be invoiced by RODEO AUSTIN; RODEO AUSTIN will invoice the address on file for the Buyers Group only. Multiple payments to pay an invoice will be accepted; however only one invoice will be generated.
Internal Buyers Groups
Internal Buyers Groups will not be allowed to have a separate banking account outside of RODEO AUSTIN.
Internal Buyers Groups may only deposit funds into RODEO AUSTIN accounts and may not withdraw funds except for Youth Auction purchases. If Internal Buyers Groups have a balance following the payment of that year's Youth Auction invoice, they may apply it to other purchases or events in support of the RODEO AUSTIN mission.
Internal Buyers Groups are not permitted to host any form of a raffle. A raffle is the award of one or more prizes by chance at a single occasion among a single pool or group of persons who have paid or promised a thing of value for a ticket that represents a chance to win a prize. A reverse raffle is a raffle in which the last ticket or tickets drawn are considered the winning tickets.
If an Internal Buyers Group chooses to hold a fundraiser, they must seek approval from the Executive Committee 60 days prior to such fundraiser and gain approval prior to notifying any participants of said fundraiser.
The RODEO AUSTIN CEO must approve and sign any contract related to any function of an Internal Buyers Group.
External Buyers Groups
External Buyers Groups operating as a separate entity are not bound by RODEO AUSTIN rules. However, use of RODEO AUSTIN name, marks or logos for any reason must be approved in advance in writing for each instance of use by the RODEO AUSTIN CEO.