Even Keels Cruising Club Inc (club website example only)

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Even Keels Cruising Club INC 9897603 ABN 37599776442

SYNOPSIS OF THE EVEN KEELS CRUISING CLUB SCHEME…PAGE 4/4

The advantages of the Even Keels Cruising Club scheme are numerous, but here are a few:

• Capital and ongoing costs are shared
• Responsibility is shared
• You can pick and choose where and when you spend time on the catamaran
• You don’t have to spend long periods on the catamaran to make it financially worthwhile
• It suits the lifestyle of those people who have multiple interests and other commitments
• You can share your sailing with other like-minded people in the club and/or friends and family, if you wish
• The club decides where the catamaran will be sailed, there are no geographical restrictions. Overseas passages e.g. to Pacific Islands are feasible if there is enough interest

There are lots of disadvantages of commercial syndicates, some of which are:

• The rules are set in concrete, forming part of a contract
• You have to buy a new boat and it has to be sold in generally either 3 or 5 years regardless of whether you want to continue, and the scheme wound up, meaning all the members cop massive depreciation losses (in other words, the schemes are designed to ensure turnover of boats for the manufacturers)
• You have no say in who else owns shares in the boat
• The syndicate catamaran is confined to a certain geographical area, often only Sydney/Pittwater, or Whitsundays or some other area. You can’t take it wherever you like. Some allow summer around Sydney and winter in the Whitsundays, but this is still very restrictive
• The syndicate operators are in it to make a profit from the owners

There is additional information in the Frequently Asked Questions (FAQ) section of this website. Please read this carefully too if you are thinking about putting in an Expression of Interest (the EOI may be downloaded from this website, filled in and emailed back to us). Couples who both sail, and are owners or ex-owners of cruising keelboats or catamarans, are especially encouraged to apply.

DISCLAIMER

The Frequently Asked Questions (FAQ) and Scheme Synopsis sections of this website are intended to help people assess whether they wish to submit an Expression of Interest with a view to becoming a member of Even Keels. The actual operation of Even Keels Cruising Club Inc is governed only by the constitution and the club by-laws.

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