GTP Amateur Contracts
NCAA compliant. Contracts are executed between a minor’s Guardian and a Certified Coach, Trainer or Academy. Guardian will begin a 5 year payment plan commencing one year from the conclusion of work. Get your child or ward the sporting education they need!
This information is not to supplement or substitute for regulations outlined in the Association’s Operating Agreement and actual Amateur Status Contract. During your application for certification, this operating agreement will serve as the governing authority for all member compliance. If questions arise, please contact GTP immediately.
Amateur Status Contracts have been created for “Amateurs” under the age of eighteen (18) or above eighteen (18) if currently enrolled in NCAA athletics ( in order to ensure NCAA eligibility compliance for a junior player per NCAA manual 126.96.36.199.6) or for other extenuating circumstances. An Amateur Contract is executed between a Certified Guardian and either a Certified Coach, Trainer or Academy ONLY. Amateur Contracts are signed and Deferred Compensation is paid by a Certified Guardian to GTP who will then push payments to the contracted Certified Coach, Trainer or Academy. Guardians agree to begin a non-intrusive payment plan beginning one (1) year from the calendar quarter from when their contracts were completed. In order to execute and utilize GTP Amateur contracts, a person must be Certified as a Guardian and or Coach, Trainer or Academy within GTP’s Association. In order to be Certified you must first:
CERTIFICATION AND APPLICATION:
- Review, and fully understand the Operating Agreement governing the Association of Ethical Coaches and Players.
- Agree to comply with business standards as set in the Operating Agreement by the Association.
- Fully complete and submit an Application as either a Coach, Trainer, Academy or Guardian to the Association for approval. Please be advised, that submission of an Application grants GTP’s Association the right to conduct a Level 1 background check and as a Guardian or Athlete a credit check.
- Await Association’s Review Board decision on your application. (Approximately 3-5 business days)
- Upon Application acceptance, subscribe to the Association to complete Certification.
- Initiate Amateur Status Contracts with other Certified Members.
- All Amateur Status Contracts may be converted to a Certified Members’ native language for a fee, however the English version will always prevail.
- Amateur Contracts are specific to each Certified Member but are universally standard. The only portions of the contract that alter is the negotiated amounts of deferred compensation between a Certified Guardian and a Coach, Trainer or Academy.
- Maximum deferred compensation amounts per hour/day/week/month must be strictly adhered to. No Coach, Trainer or Academy may negotiate more than $750 for a one-Day contract, $3,500 for a one-week contract, or $13,000 per Month. Minimum deferred compensation per contract is $50.
- Maximum contract length is three (3) months but extensions may be signed. No more than two (2) extensions per Contract will be approved.
- Maximum deferred compensation a Guardian may accrue under their own Coaches Collective is $100,000 (including accrued interest).
- An Amateur Status Contract is not protected under the Association until the respective Association approves each Contract and ensures it complies to all standards of the Operating Agreement.
- Once acknowledged, accepted and approved by the Association, the ward of a Certified Guardian and Certified Coach, Trainer or Academy may get to work.
- No Certified Guardian may have active Amateur Status Contracts with more than three (3) Certified Coaches, Trainers or Academies at any one time. No Certified Coach, Trainer or Academy may have active Amateur Status Contracts with more than ten (10) Certified Guardians at any one time.
COACHES COLLECTIVE AND DEFERRED COMPENSATION:
- All deferred compensation accrued by a Guardian is added to their Collective (or total amount of deferred compensation owed to Coaches for services provided). GTP’s Association will hold all deferred compensation on behalf of the Certified Coaches, Trainers and Academies to collect from the Certified Guardian, beginning one year from the conclusion of the calendar quarter from when services were provided.
- Held deferred compensation accrues a 4% interest rate per year until paid in full. (No pre-payment penalties)
- At the commencement of the payment plan, GTP’s Association will notify the Certified Guardian ten (10) days prior to the close of the quarter of his or her required outstanding deferred compensation payment including interest. These payments are amortized over the five (5) year payment plan.
- A Certified Guardian is required to begin a payment plan commencing one year from the calendar quarter from when their contract completed. For example, a one week contract that concluded April 9th, 2019 will have a payment commencement date beginning on July 1st 2020. Four Quarters in a year: Q1: Jan 1-Mar 31; Q2: April 1-June 30; Q3 July 1-September 30; Q4: October 1-December 31.
- This means, for Repayment Category A, a Certified Guardian who has accrued $40,000 deferred compensation in the months of January, February and March of 2020, will commence a payment plan on April 1st, 2021 of 3.5% per quarter on $40,000 or $1,400 per quarter ($467.00 per month) or $5,600 per year to be paid directly to the Association.(This example does not include interest payments) If the Certified Guardian remains in Good Standing and makes all payments for five (5) years in a timely manner, a balloon payment at the conclusion of 5 years will be required, or at the Association’s discretion, may extend the payment plan.
A Collective may be paid down at any time with no prepayment penalties.
EXCLUSIVITY, DEFAULT, BREACHES AND TERMINATION:
- Amateur Status Contracts have zero form of exclusivity. Since a Coach, Trainer or Academy is guaranteed compensation for his or her services at fair market value, exclusivity is no longer required.
- A Guardian may terminate a Contract for any reason without fear of tarnishing their reputation at any time with a Coach, Trainer or Academy. Should a contract be terminated, the contract will become null and void and the deferred compensation amount will be pro-rata for the days that were completed.
- In the event a breach of contract is filed, GTP will serve as an intermediate unbiased third party to determine what, if any, deferred compensation is owed.