Movie Making Manual/Equipment Timeshare Agreement

This is the Draft Agreement fot the FilmEquipmentTimeshare

Outline

 * The Film Equipment Timeshare is a "for mutual profit" partnership the purpose of which is to enable members to pool resources and buy film-making equipment which the members then share.
 * Each member will contribute an initial £X.00 to the partnership and pay an 1/5th X renewal fee each year.
 * There will be a minimum of 3 and a maximum of 12 members.
 * Members can be individuals, companies, partnerships, etcetera.
 * Members may choose to manage the partnership in-house or appoint an external management member.
 * If Members choose to manage the partnership themselves they should elect a treasurer, a diary keeper, and an equipment maintainer. Members may hold more than one of these positions.

Purchase of Equipment

 * Members should agree their aims and then assemble a list of equipment to meet those aims.
 * Members can then purchase this equipment in any manner the partnership agrees.

Use of Equipment

 * Each member is assigned 350/[number of members] days use per year.
 * Members shall pay Y per day for actual usage of the kit
 * Each Member therefore guarantees to pay each year £Y times 350/[number of members] per year.
 * 15 days each year are set aside for servicing of equipment or emergencies.
 * Members should reserve equipment with the diary controller. The diary should be available to all members at all times (preferably online) so they members can plan their projects.
 * Equipment cannot be booked more than 1 year in advance.
 * Members not using all their assigned days may allocate them to a "pool"/bulletin board where they may be purchased by another member.
 * Members will sign equipment over to themselves when collecting it from the previous user. It is the accepting member's responsibility to cover any insurance excess for loss of or damage to the equipment while it is in his care.

General

 * The equipment shall be insured at all times
 * Equipment cannot be lent or hired to 3rd parties

Governance

 * New members need approval from a majority of existing members
 * Members may sell on at any time: existing members have pre-emption rights but if not taken up any new member to be approved by a majority.
 * General Meetings at least once per year immediately following the anniversary date of the partnership's formation, any two members can requisition an extraordinary general meeting.
 * At General Meeting members will vote on rental levels, how much of the capital to disburse, how much to reinvest in new equipment and how much to leave in the partnership.