Section 17-1706. REQUIRED FORM OF CONTRACT

 

1706.1An agency contract must be in writing and signed or otherwise authenticated by the parties.

 

1706.2An agency contract must state or contain the following:

 

(a)The amount and method of calculating the consideration to be paid by the student- athlete for services to be provided by the athlete under the contract and any other consideration the athlete agent has received or will receive from any other source for entering into the contract or for providing the services;

 

(b)The name of any person not listed in the application for registration or renewal of registration who will be compensated because the student-athlete signed the agency contract;

 

(c)A description of any expenses that the student-athlete agrees to reimburse;

 

(d)A description of the services to be provided to the student-athlete;

 

(e)The duration of the contract; and

 

(f)The date of execution.

 

1706.3An agency contract must contain, in close proximity to the signature of the student- athlete, a conspicuous notice in boldface type in capital letters stating the following:

 

"WARNING TO STUDENT-ATHLETE IF YOU SIGN THIS CONTRACT:

 

YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT-ATHLETE IN YOUR SPORT;

 

IF YOU HAVE AN ATHLETIC DIRECTOR, WITHIN 72 HOURS AFTERENTERING INTO THIS CONTRACT, BOTH YOU AND YOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR; AND

 

YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT. CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY."

 

1706.4An agency contract that does not conform to this section is voidable by the student- athlete. If a student-athlete voids an agency contract, the student-athlete is not required to pay any consideration under the contract or return any consideration received from the athlete agent to induce the student-athlete to enter into the contract.

 

1706.5The athlete agent shall give an original copy of the signed or otherwise authenticated agency contract to the student-athlete when it is executed.

 

1706.6The use of electronic signatures in agency contracts is permitted only if the electronic signature complies with D.C. Official Code § 47-2887.18 (2002 Supp.).

 

source

Final Rulemaking at 50 DCR 9549 (November 14, 2003).