This accountability ledger is customized for every GTP certified member within professional tennis. Each collective is a unique database, reflecting who has contracted with whom; the amount of deferred compensation associated with each contract; as well as detailed records of services provided/received and the appropriate compensation related to those transactions. Our proprietary platform eliminates questions that have plagued fair treatment throughout the history of our sport. Through enforceable on-the-fly contracts, we protect everyone’s best interests, while holding all parties accountable.
* Details are outlined in our Operating Agreement that governs The Association of Ethical Tennis Coaches and Players.
CHARACTERISTICS OF AN ATHLETE’S COLLECTIVE
1) A certified athlete can participate in as many as 5 engagement contracts and 2 engagement+ contracts with any provider at any one time.
2) In order to participate in engagement+ contracts, an athlete must be within the top 650 singles or top 200 doubles (currently or within the last 2 years). If ranking is not sufficient, an athlete who has successfully completed 9 contractual months of engagement contracts with the same provider will qualify.
3) Each athlete is given a total debt ceiling of $175,000 (USD, including interest) for engagement+ contracts with any one provider.
4) All deferred compensation funds are held by GTP. Upon the completion of a contract, the balance will begin to add 4% interest per year until the collective is paid in full. No prepayment penalties exist.
5) Each member’s collective will be viewable from their private profile page under ‘my collective.’ Our archives show who you have worked with and what portion of your collective came from whom. Those you have worked with will be visible to the community, while your financial information will remain for your eyes only.
6) Every member will be held accountable: Providers to perform the services as they agreed upon; athletes and guardians honoring their agreed upon compensation.
7) Upon retirement, an athlete with engagement contracts will automatically begin a 5 year repayment plan. GTP classifies retirement as not having played 8 – ATP/ITF/WTA tournaments within the past 2 years. Athletes will pay at least 3.5% of the outstanding balance per quarter with no pre-payment penalties.
8) On the other hand, an athlete with an unresolved balance on engagement+ contracts, would have their debt waived when they retired.
CHARACTERISTICS OF A GUARDIAN’S COLLECTIVE
1) Guardians can negotiate contract amounts directly with any provider.
2) Each guardian can have as many as 5 active amateur status contracts with any given provider.
3) A credit limit of $100,000 (USD, including interest) is standard for every guardian who signs an amateur status contract.
4) A payment plan begins for every guardian 1 year from the completion of any amateur status contract. If 2 contracts were completed within the same quarter, the amount owed per quarter will be 3.5% of the sum of both contracts.
5) Re-payment plans are scheduled for 5 years, at 3.5% of outstanding collective per quarter. A one time balloon payment will occur at the conclusion of the 5th year. When payments are made on time, a guardian qualifies for a plan extension, if needed.
6) Each member’s collective will be viewable from their private profile page under ‘my collective.’ Our archives show who you have worked with and what portion of your collective came from whom. Those you have worked with will be visible to the community, while your financial information will remain for your eyes only.
7) Guardians will be emailed an invoice 10 days prior to the close of each total collective owed.
CHARACTERISTICS OF A PROVIDER’S COLLECTIVE
1) A certified provider can participate in as many as 10 contracts with athletes or guardians, while only 3 active engagement+ contracts at any one time.
2) Archived records will be displayed for members to see who each provider has worked with, and for how long, while the financial data will remain hidden.
3) Each provider can negotiate deferred compensation on their own. For everyone’s protection, GTP limits contract amounts to $750 per day, $3,500 per week, or $13,000 per month for amateur status and engagement contracts with any guardian or athlete. Contracts submitted outside of these standards or under $50 deferred compensation will not be approved by GTP.
4) Providers are dispensed pro-rated revenue, based on their percentage of each collective.
5) Maintaining a good standing within GTP is a crucial part of our accountability for all. Learn more details in section 5.05 of the GTP Operating Agreement.
6) GTP will hold accountable all athletes and guardians to pay their contracted amounts to any provider.
7) To protect both parties, a total debt ceiling of $100,000 (USD, including interest) for athlete status or engagement contracts will be placed on any athlete or guardian.
8) Further, a total debt ceiling of $175,000 (USD, including interest) for engagement+ contracts will be placed on any athlete.
9) Every member must agree to all rules and regulations of the GTP Operating Agreement.
10) There is no limit to the total collective any provider may build.
