Financial Regulations of ECU

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Saturday, 29 December 2007, id:395 Article cached on Wednesday, 14 May 2008 04:28:35

Financial Regulations of ECU

1 General Articles
2 Revenues
3 Expenses
4 Fees for European Chess Events
5 Final Regulations
Annex 1 - Fees for European Chess Events
Annex 2 - Bid Fees and Deposit Fees
Annex 3 - Guidelines concerning fees for the arbiters and members of the Appeals Committee and European championships

1.1 The financial year coincides with the calendar year. (Art. 8.1 Statutes)

1.2 The ECU budget is based on the EURO. (Art. 8.2 Statutes)

1.3 All ECU bank accounts shall be in the name of ECU. The Board decides on signature right(s). (Art. 8.3 Statutes)

1.4 Each year at the annual GA the Treasurer presents the final balanced account, subject to acceptance by the GA. (Art. 8.4 Statutes)

1.5 The annual budget of ECU shall be done by the Treasurer before the annual GA and is subject to acceptance by the GA. (Art. 8.5 Statutes)

2.1 ECU's revenues come from (Art. 8.7 Statutes):

• Membership fees
• Entry fees for tournaments organized by ECU or by ECU's mandate (see Art. 2.3.1)
• Fees for services provided by the ECU
• Other revenues

2.2 Annual membership fees (Art. 8.8 Statutes)

The annual membership fees for the coming year will be fixed at the annual GA together with the budget for the coming year.

2.3 Entry frees for tournaments

2.3.1 The GA decides for which of the tournaments organized by ECU, respectively its members, entry fees have to be paid, fixes the amount and decides on the distribution.

2.3.2 The Board is charged to assure that a part of the entry fees according from tournaments organized for FIDE or other organizations on the territory of ECU, respectively by ECU members, is paid to the ECU.

2.4 Fees for services

2.4.1 The GA decides which services rendered by the ECU are subject to fees.

2.4.2 The Board decides on the amount due for those services.

2.5 Other revenues

The Board will work towards acquiring further revenues by sponsoring, marketing of rights, etc.

3.1 ECU's expenses follow the budget approved by the GA.

3.2 For extraordinary expenses, not contained in the budget, a request can be submitted to the Board. The Board may grant such expenses if they are in the interest of the ECU (Art. 8.6 Statutes).

3.3 The President and the Secretary General receive a monthly stipend which has to be decided by the General Assembly and included into the budget.

4.1 General provisions

Fees for European Chess Events are

(a) Entry fees

(b) Bid fees

(c) Deposit fees

All decisions on fees for European events are taken by the General Assembly. As long as General Assembly has not decided the Board can take decision especially for new events.

4.2 Entry Fees

When a federation enters a participant (participating team) for a European event (including the defending champion) it has the obligation to pay an entry fee according to annex 1. Besides the entry fee only a payment for accommodation, if the tournament regulation provides for it, and for special services may be asked.

If a player (team) has enrolled for participation and later withdraws the entry less than 14 days before the beginning of the competition or does not appear at the first round of the competition, the entry fee is forfeited or shall be invoiced unless the player (team) concerned furnishes acceptable reasons for this default.

For all European individual events not included in annex 1 no entry fee has to be paid to ECU by the participants. However, the organizer of the European Rapid and Blitz Championships (Men and Women) as well as of the European Individual Senior Championship has to pay a lump sum of 500 Euro in order to cover the travel expenses of a ECU representative nominated by the President. In return ECU will provide medals free of charge.

4.3 Distribution of entry fees

The collected entry fees will be distributed to ECU and the organising federation according to annex 1 as soon as possible.

It is up to the organising federation to give its share or part of it to the organiser.

4.4 Bid Fees

A bid to organise an ECU event shall be made on the prescribed form to the ECU office. It is valid only if it is signed by the organiser and the organising federation and the bid fee according to annex 2 is transferred to the account of the ECU. The bid fee is a lump sum to cover the travel expenses of inspection of the bid by at least one ECU officer appointed by the President. In case a bid concerns more than one event at the same playing venue at the same time only the highest bid fee has to be paid.

In exceptional cases the ECU Board may grant an option for an ECU event scheduled within three years after the end of the current year. The option is valid only if the bid fee according to annex 2 is transferred to the account of the ECU within two months after the option has been granted. The option has to be followed by a firm bid within a time limit of six months after the option has been granted. In case no firm bid is received within that time the bid fee is forfeited. The granting of an option and the time limit have to be published to all European federations to give them the possibility also to send bids. The Board may reject the firm bid and withdraw the option if the conditions are not the normal level of the event or if other bids are much better.

4.5 Deposit Fees

After decision on the bids for an ECU event the bidders will be informed by the ECU office. In case the offer has been accepted and a contract between the organizer and ECU has been signed the organiser concerned has to transfer the deposit fee according to annex 2 within two months after receiving the information, otherwise, it shall be deemed to have abandoned the award.

In case more than one event is organised at the same time and at the same playing venue only the highest deposit fee has to be paid.

In case of the European Championship for men and for women an additional deposit for the prizefunds in form of a bank guaranty has to be made: A year before the event 50 % of the prizefunds; six months before the event 75 % of the prizefunds.

The event must be organised as stipulated or the deposit fee is forfeited. When the event has been properly organised the deposit fee shall be returned.

At any time, after the award of an event, the ECU President may take specific measures to rescind the award if there is sufficient evidence to show that the guarantees given by the organiser are being violated. Such measures may include the forfeiture of the deposit fees.

Instead of transferring the money for the deposit fee to the ECU account the organiser can send a bank guaranty to the ECU office. The document must guaranty without any condition that the amount of the deposit fee will be paid at once to ECU if claimed by ECU.

5.1 Members who have not paid their current fees, lose their vote at the GA. The Board can exclude them from ECU events (Art. 8.9 Statutes).

5.2 For a modification of the parts of these regulations, who represent a mere reproduction of the statutes, the article 9.4 of the statutes, concerning a change of statutes is to be applied. For other changes of these regulations a majority of the votes is necessary, without taking abstentions into account.

5.3 Execution and supervision of these regulations fall under the competence of the Board. Individual tasks can be delegated to the Treasurer, the SG or a committee.

The fees for individual championships should be changed as follows:

		Entry fee	ECU	Org.Fed.
		Euro	Euro	Euro
1.1 European Championship	GM/IM	65	65	0
	1st player/fed	130	90	40
	Others	130	90	40
1.2 European Championship for Women	WGM/WIM	65	65	0
	1st player/fed	130	90	40
	Others	130	90	40
1.3 European Youth Championship	Nominated	65	59	15
	Additional	130	90	40

No.	Championship	Bid fee	Deposit fee
		Euro	Euro
1	Individual Championships
1.1	European Championship	500	*7.500
1.2	European Championship for Women	500	*7.500
1.3	European Youth Championship	500	7.500
1.4	European Senior Championship	200	2.000
1.5	European Rapid Championship	200	2.000
1.6	European Rapid Championship for Women	200	2.000
1.7	European Blitz Championship	200	2.000
1.8	European Blitz Championship for Women	200	2.000
2	Team Championships
2.1	European Team Championship	500	7.500
2.2	European Team Championship for Women	500	7.500
2.3	European Team Championship for Youth	200	2.000
2.4	European Team Championship for Seniors	200	2.000
2.5	European Club Cup	500	5.000
2.6	European Club Cup for Women	200	2.000

* = additional bank guarantee for prizefunds; 50 % one year before the event, 75 % six months before the event

Chief Arbiter 1.500,-- Euro

Deputy Chief Arbiter 1.000,-- Euro

Arbiters 40,-- Euro per day (10 - 20 Boards)

Chairman of Appeals Committee 1.500,-- Euro

Member of Appeals Committee 1.000,-- Euro

Chairman of Pairings Committee in the

European Youth Championships 1.000,-- Euro

Notes:

These fees apply to the European Team Championship, the European Individual Championship (Men and Women), European Club Cup (Men and Women) and European Youth Championship (U10 - U 18). For all other tournaments the fees can be fixed on a lower level.

These fees mentioned in this table are net fees; the organisers are responsible for the payment of eventual taxes.

Unless otherwise agreed in written and signed by both the arbiter and the organiser, the above fees shall be paid before the last round.

The organizer is in charge of travel costs and accommodation.

If anyone acts only a part of the duration of the championship his fee will be paid on a pro rata basis.

Any ECU Board mentioned in article 3.3 of ECU Financial Regulations cannot receive any fee mentioned in this annex.