In a first for the thoroughbred industry globally, Swettenham Stud has launched an initiative to assist breeders by offering extended payment plans and a guarantee of progeny produced by its stallions.
All breeders whose mares are bred to Swettenham Stud stallions in 2020 will have the option of paying service fees in monthly instalments of seven per cent through Thoroughbred Payments. This will start when the mare receives a 45 day scan which essentially spreads the payments over the period until the foal is about five months-old.
Should the mare fail to produce a live foal, all payments will be refunded to the breeder unless they want to continue paying and receive a free return. And should a mare produce a live foal that does not make it to the timing of the final payment, a free return will be issued to the breeder for any mare they nominate for the following season.
Swettenham Stud principal, Adam Sangster, says the initiative is something he genuinely believes breeders can get excited about.
“We’ve spoken to our breeders and heard their challenges in the current circumstances and we believe this will assist them to budget for the stallion that they want, and with a guarantee of the foal getting to weanling stage,” Mr Sangster said.
“We will of course continue to offer live foal payment terms for clients who wish to choose that option, and earlier payments plans for those who wish, but we’ll ensure that all our breeders are looked after and are managing their cash flow.”
Swettenham Stud prides itself on doing anything it can to look after breeders who support the stallions and is always open to flexible arrangements which is one of the many benefits of having an Australian owned and managed farm where direct access to the principal of the business is always available.
Based at Nagambie, Swettenham Stud is home to Toronado, Akeed Mofeed, Highland Reel, I Am Immortal, Puissance de Lune and Trust In A Gust.