GTP maintains 5 digitally automated contracts, available directly from any member's* profile page
* Only GTP certified members have access to our contracts. Follow these steps to your certification:
1). Read the Operating Agreement governing the Association of Ethical Coaches and Players.
2). Agree to comply with business standards set forth in the Operating Agreement.
3). Complete and submit an application as an athlete, guardian or provider for approval.
4). Be aware that submission of your application grants GTP the right to conduct a Level 1 background check.
5). Athletes and guardians also undergo a credit check.
6). Within 3-5 business days, the Association will review your application.
7). Upon acceptance, complete certification and initiate GTP contracts with other members.
CHARACTERISTICS UNIQUE TO AMATEUR STATUS CONTRACTS:
• Amateur status contracts are for minor athletes under the age of 18;
• or above 18 and currently enrolled in NCAA athletics.
• This contract can only be executed between a guardian and provider. If the option of deferred compensation is exercised, repayment to GTP is guaranteed by the guardian, beginning 1 year from the completion of their contract.
• With a deferred compensation contract, there is a maximum debt limit of $100,000 (including interest) for any guardian.
• The guardian will make payments on their debt over the next 5 years. If there is a remaining balance at the end of those 5 years, a balloon payment will be required to settle the debt. If the guardian has made all payments in a timely manner, they will qualify for an extended payment plan, if needed. Debt can be paid down at any time with no prepayment penalties.
characteristics unique to Minor Engagement Contracts:
• These contracts are for minor athletes, and executed by their guardian with a provider(s).
• Deferred compensation is secured with 15% of the minor athlete’s future tournament winnings.
• The guardian is responsible for the agreed-upon compensation to the provider.
• The minor athlete’s guardian must compensate a provider for their agreed-to market value.
• A payment plan identical to an amateur contract will begin at the time of the minor athlete’s retirement.
Characteristics Unique to Engagement Contracts:
• These contracts are between athletes and providers only.
• Deferred compensation is secured with 15% of an athlete’s future tournament winnings.
• Athletes must compensate a provider at agreed-upon market value.
• A repayment plan will begin 2 years after the athlete’s retirement.
Characteristics Unique to Engagement+ Contracts:
• Only athletes in the top 650 ATP/WTA singles or top 200 ATP/WTA doubles within the last 2 years; or
• an athlete and provider who have applied for and granted special exemption by GTP.
• Athletes will pay for these services based on 15% of future tournament winnings and 10% of endorsement deals signed during the term of the contract, until the collective is reconciled.
• Should the Athlete have an outstanding balance upon their retirement, that debt is forgiven.
Agent Initiated Contracts Explained:
• Any GTP contract (except amateur) that are initiated by an Agent between 2 or more GTP Certified members.
• An agent is responsible for negotiating the terms, service to be provided, type of compensation and notifications to the Association of contract changes.
THESE CHARACTERISTICS ARE COMMON TO EVERY GTP CONTRACT
• In order to utilize any GTP contract, an individual must be certified as an athlete, guardian or provider by GTP’s Association of Ethical Coaches and Players (referred to as ‘the Association’ throughout), and agree to comply to the regulations set forth.
• Every contract can be translated to a members’ native language for a small fee. The English version is our programmed default.
• Contracts are standardized in form, yet easily customized to reflect the negotiated fees and duration.
• There is a maximum length of 3 months for any contract. If both parties remain content, extensions can be signed.
• Athletes or guardians can have as many as 3 active amateur status contracts with various providers at any one time.
• Providers can have as many as 10 active contracts with various athletes or guardians at any one time.
• Providers will be compensated strictly for the services they deliver.
• There is a maximum deferred compensation amount for contracts with all providers. Charges are limited to $750 per day, $3,500 for a per week, or $13,000 per month. Minimum deferred compensation per contract is $50.
• Repayment Category A example: An athlete or guardian who has a combined debt of $40,000 will have a repayment plan of 3.5% per quarter. This $1,400 equates to $467.00 per month, or $5,600 per year. Payments are made directly to GTP’s Association. (This example does not include interest).
• At the beginning of any repayment plan, the Association will notify the athlete or guardian 10 days prior to a deferred compensation payment being due, including interest. (There are no prepayment penalties)
• A 4% interest rate per year is added to deferred compensation debt (until paid in full), with GTP earning a small fee of the principal.
• All deferred compensation collected from an athlete or guardian becomes ‘My Collective’ for the contracted provider. Payments are then dispersed by GTP to the provider, minus our small fee of the principle. The repayment plan begins 1 year from the completion of their contract.
Exclusivity, default, breaches and termination:
• Every GTP contract guarantees providers will be compensated for their services at fair market value, so exclusivity is no longer required.
• If a breach of contract is filed from either side, GTP will serve as the unbiased arbiter to settle the disagreement.
• An athlete or guardian can terminate a contract for any reason, without fear of retribution from any provider. Should a contract be terminated, the deferred compensation debt will be prorated for the services that were completed.