Lottery Syndicate Form What is it?

What Is A Lottery Syndicate Form?

Lottery syndicate form is actually the wrong terminology used to describe what is supposed to be a Lottery Syndicate Agreement Form. Many people get confused when really a lottery syndicate form, in the plain sense, offers no hard and fast rules stating what each member of a lottery syndicate should or should not be entitled to, and is basically a term used to search online for a lottery agreement form.

When Should You Use A Lottery Syndicate Form?

If you are forming a syndicate with a minimum of at least 2 members. You may have a close friend and think there's no need to form such an agreement, but believe me, you can fall out with your best friend as quick as buying your lottery ticket - all because the other party thought otherwise.

Forming an official lottery syndicate and ensuring everyone gets their equal share can often be confusing and sometimes misleading if no syndicate member knows how the winnings are paid out.

You can easily overcome this by stating clearly, a few simple rules of the syndicate that everyone must adhere to. Make sure every member of your lottery syndicate receives a copy. Post a copy on your workplace noticeboard.

Below you will find a simple lay-out of what a lottery syndicate form should state, more importantly, what each lottery sydicate member will receive when lady luck falls on you!

Sample Lottery Syndicate Agreement Form

Lottery Syndicate Agreement Form

This lottery syndicate agreement form constitutes a legal binding contract amongst every member of the syndicate named

as:_____________________________________________________________________________________

The lottery syndicate is played amongst friends/employees and/or relatives at the workplace / private property of:

Address:_________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________Postal/Zip Code:____________________

And covers the Lottery Game/s named as:_________________________________________________________

Which is played on the days of:_________________________________________________________________

Every syndicate member (amongst the number of members being:_______) agrees to pay weekly syndicate dues to the amount of:

________________per week to the syndicate money holder (person that purchases the lottery tickets) who is named as:

Mr/Mrs/Miss (First Name)___________________________________________________________________

Last Name:_______________________________________________________________________________

Address:_________________________________________________________________________________

________________________________________________________________________________________

____________________________________________________Postal/Zip Code:_______________________

Syndicate Organiser Telephone Number:_________________________________________________________

The above named person will hold a written record of dues paid by members and a signature of the organiser should accompany each weekly paid entry from members in a ledger or similar lined book which will verify dues were paid.

In the event of any lottery winnings, each syndicate member will receive an equal single share.

Any syndicate member who misses payment/dues for any given week will not receive a share should that specific week be a winning one, unless pre-agreed by all other syndicate members for reasons listed below:

Pre-agreement Notes: ______________________________________________________________________

_________________________________________________________________________________________

_________________________________________________________________________________________

_________________________________________________________________________________________

In the event of any syndicate member who has paid up to date for any given week/lottery draw, and suddenly dies before the draw takes place. That persons share of any winning monies will be allocated to their next of kin. If there is no next of kin, an agreement will be made by by the remaining syndicate members as to how the deceased members winnings will be dispersed.

Any syndicate member wishing to withdraw from syndicate membership shall forfeit all rights at 1 second past the hour, that the last lottery draw has taken place and which has legally been paid for.

Taking ones place of any ex-syndicate member, is solely at the discretion of the majority of remaining syndicate members. Dues may be increased slightly each week to compensate for any member wishing to leave the syndicate where no other syndicate member can be found in time.

To allow for the above arrangement, any syndicate member wishing to terminate this syndicate agreement, should giive at least one weeks notice to the syndicate organiser, who should contact all other members.

Two copies of this agreement should be signed and dated. One copy kept by the syndicate member, the other to the syndicate organiser named above.

I, Mr/Mrs/Miss:____________________________________  of Address:_________________________

___________________________________________________________________________________

_________________________________________________Post / Zip Code:______________________

Telephone / Contact Number:_______________________________________agree to the above conditions and will ensure my dues for lottery entries are paid in plenty time before the next lottery draw. Failing to do so, I acknowledge that this syndicate agreement may be terminated without notice.

Syndicate Member Signature:___________________________________Dated this day:_____________2007

-------------------------------------------------------------------------------------------------------------------

Please feel free to ammend this agreement to make it suitable to your requirements.

Please also note that it may seem a bit harsh because a syndicate member has missed 1 week, that the persons agreement should be terminated. Now this may seem petty but if there is no hard set rule wriiten down on paper like above, other syndicate members will no doubt follow suit.

It's OK, you would think, to miss a week because something has arisen; perhaps a family berievement; busy working away from home; on holiday or simply forgot to pay the syndicate organiser, but doing it for 2 weeks, then maybe 3, then someone else may forget to pay - before you know it, you have no syndicate and the whole idea of a fun lottery syndicate has went totaly pear-shaped and everyone has fallen out with each other. It's true... It happens every week in the real world.

Money is the route of all evil!

How would you like it if you were the organiser and people started to pay with good intent and purposes, then all of a sudden, every member forgets to pay you one week? Yo have a dilemma. Do you place the tickets on at your own expense hoping you'll be reimbursed the following week? You may want to, but the week after a couple more may forget to pay you, then the whole thing gets real messy.

When a lottery syndicate agreement is in writing and signed by every member, at least every member  knows the outcome, should someone forget to pay. They're OUT! Stick by the rules of the lottery syndicate agreement and you won't go far wrong.

Take my syndicate agreement to a solicitor and ask him or her to check it over. You won't have to pay (hopefully) especially if you know one as a close friend.

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