Brand Membership

These terms govern how membership fees are calculated and applied for Brand Members of the Australian Surf Industry Association (ASI). They set out the definition of turnover for the purposes of membership classification, the treatment of corporate groups and related entities, and the obligations of members to accurately declare their turnover and maintain the correct membership tier.

These terms form part of the ASI Membership Agreement and are binding on all Brand Members and Sales Agents.

2.1 What counts as turnover

For the purposes of membership classification, “turnover” means the total gross revenue of the member (or member group, where applicable) derived from the Australian market across all sales channels and business activities, including:

• Wholesale revenue from sales to independent retailers
• Revenue from the member's own direct-to-consumer retail stores (physical and online)
• Revenue from the member's own branded outlet or clearance stores
• Revenue from sales through any third-party marketplace or platform where the member is the seller of record

2.2 Calculation period

Turnover is calculated on the basis of the most recently completed financial year. Where a member has not yet completed a full financial year of trading, turnover shall be assessed on the basis of annualised revenue for the period traded to date.

Example: The most recent completed financial year is FY2026 with Australian turnover of $5.4M = Medium tier.

2.3 Distributor and reseller adjustment

Where a member operates primarily as a distributor or reseller (that is, an intermediary that purchases product from a brand and on-sells to retailers), the applicable turnover thresholds are doubled for the purposes of tier classification. This adjustment reflects the structural difference in gross revenue between brand-direct and distributor business models.

Example: A distributor with $18M Australian turnover is assessed against the Large tier threshold ($20M–$40M) rather than Medium ($5M–$10M). No adjustment applies if the member holds the brand licence or manufactures the product.

3.1 Group assessment

Where two or more brands, trading entities, or legal entities are owned, controlled, or operated by the same parent company or ultimate beneficial owner, those entities are assessed on the basis of their combined Australian market turnover for the purposes of membership tier classification.

A single membership fee applies to the group at the tier corresponding to combined turnover. The group may hold one membership under the name of the operating entity, parent company, or a nominated primary entity, as agreed with the ASI Executive Officer.

3.2 Definition of control

For the purposes of this clause, “control” means:

• Ownership of greater than 50% of the issued share capital or voting rights of an entity; or
• The ability to direct the financial and operating policies of an entity by virtue of ownership, contractual arrangement, or otherwise.

4.1 Annual declaration

At the time of joining and at each annual renewal, members must provide an accurate declaration of their Australian market turnover for the most recently completed financial year. This declaration must be made by an authorised officer of the member (being a director, company secretary, or Chief Financial Officer).

By submitting the annual renewal, the member warrants that the turnover declared is accurate and complete to the best of their knowledge and that the tier selected correctly reflects their obligations under these terms.

4.2 Mid-year tier changes

If a member's turnover during the current membership year materially exceeds the upper threshold of their current tier, the member is not required to make a mid-year adjustment. However, the member must renew at the correct tier at the next renewal date. No credit or refund applies for mid-year downward movements.

4.3 Obligation to notify

Members must notify the ASI Executive Officer within 30 days if:

• Their business is acquired by, or merged with, another entity (including where a fellow group entity holds or applies for ASI membership); or
• A corporate restructure results in a material change to the entity responsible for Australian market turnover.

5.1 ASI right to request evidence

The ASI reserves the right to request evidence of a member's Australian market turnover where it has reasonable grounds to believe that a member may be classified at an incorrect tier. Such a request may be made at any time during the membership year.

Evidence may include any one or more of the following, at the ASI's reasonable discretion:

• A letter from the member's external accountant or auditor confirming the member's Australian revenue for the relevant period
• Audited or reviewed financial statements for the relevant period
• Relevant extracts from ASIC-lodged financial reports
• A statutory declaration made by an authorised officer of the member

5.2 Timeframe for response

A member must respond to a verification request within 21 days of receipt. Failure to respond within this timeframe, or provision of documentation that does not satisfy the ASI's reasonable inquiry, may result in the member being reclassified to the tier the ASI determines is most consistent with available information.

5.3 Use of publicly available information

The ASI may, at any time and without prior notice to the member, reference publicly available information to cross-check tier classifications. This includes but is not limited to ASIC-lodged financial reports, parent company public filings, and industry publications. Such cross-referencing does not constitute an audit and does not give rise to any obligation on the ASI to notify the member.

6.1 Underpayment

Where it is established that a member has been classified at a tier lower than is correct under these terms (whether by inaccurate declaration or failure to notify), the ASI may:

• Issue a revised invoice for the difference between the fee paid and the fee applicable to the correct tier, for the current membership year only; and
• Reclassify the member at the correct tier for all future renewals.

The ASI will not seek backdated adjustments beyond the current membership year unless there is evidence of deliberate misrepresentation.

6.2 Deliberate misrepresentation

Where the ASI determines, on reasonable grounds, that a member has deliberately misrepresented their turnover to obtain a reduced membership fee, the ASI reserves the right to terminate the membership in accordance with the ASI Constitution and Membership Agreement, in addition to recovering any underpaid fees.