The Terms of Challenge (TOC) detail the rights and obligations of the participants and organisers of the 32nd America's Cup. This document was described in the Protocol as outlining the terms on which challenges must be made.
The TOC for the 32nd America’s Cup describes in detail the way AC Management will act as the event authority for the Cup, specifically referencing:
How to become a Challenger for the 32nd America’s CupThe schedule and venues for the Acts (or pre-regattasExhibition regattasThe 2007 schedule for the Louis Vuitton Cup, and 32nd America’s Cup MatchThe Venue of Valencia, SpainCompetitor bases at the AC VillageAll marketing and merchandising issuesMedia, television, and image rightsSecurityDispute resolutionInsurance and liability The Terms of Challenge are issued by AC Management as outlined in the Protocol in consultation with the Defender and the Challenger of Record.
The main objective of the Terms of Challenge is to evolve the America’s Cup into a premiere, modern, international, sporting event, with all that that implies.
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