November 21, 2009
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Deferred Billing Replaces Promissory Notes

A new Deferred Billing process has replaced Promissory Notes for anyone who enters horses in the International Arabian Breeders Sweepstakes Program and makes incremental payments over a period of time.

The Deferred Billing goes into effect on April 1, 2005.

Anyone who currently makes payments to AHA on Promissory Notes should continue doing so until the entry is paid off.

The Deferred Billing form will be used in conjunction with Sweepstakes entry forms. Owners may submit as many Sweepstakes entry forms with a Deferred Billing form as they wish.

All instructions are included on the Deferred Billing form; however, the basic points are as follows:

Your payments will depend on the total entry fee amount.
For amounts of $2,500 or less, you will have four payments.
For amounts over $2,500, you can select either four or eight payments.
The administrative fee will be 10 percent of the total amount of entries listed on a Deferred Billing form.
Each individual will calculate his or her quarterly payment due based on the form instructions.
Your first payment is due when you submit your Sweepstakes entry forms.
Subsequent invoices will be sent quarterly on the 15th of the month, approximately three months after AHA receives your first payment.

Late Fees

If applicable, any late fee must be paid in full with the first payment. For instance, a Breeding Entry of $400 would be paid in four payments of $100 each. The 10 percent administrative fee would be $40. If paid after January 1, the late fee would be $100. If a late fee was incurred, the first payment would be $100 + $10 + $100 = $210.

To download the Deferred Billing form click here.