Sail 2007
In place of using a bank, why not use Business Escrow Company, there are plenty of them out there that do transactions like this between the US and Canadian companies. With this, there would need to be a designated agent for the payee on both sides of the transaction and would require you and those that enter the race to establish a spending committee. Please note I commend what you are doing with trying to promote racing and get something going, but with all the scams out there people a very leery about send hard earned money off with not recourse.