It is therefore essential to develop a loan agreement that is tailored to specific needs and should be signed before the start of the loan period. 1. Name, size, color, sex, microchip number and horse or pony age, so the purpose of the loan is clear. The prospect of lending a horse is exciting, but there are a number of important considerations, such as time commitment and finances, that need to be carefully rethought before choosing a loan. The decision to borrow a horse should not be taken lightly or hastyly, as it can be extremely annoying to have a horse that is unsuitable or dangerous. It can also leave the new borrower in a difficult situation. Another example is that the rental player requires that the horse be taken care of by a certain Farrier/veterinarian, where the horse has specific needs. 3. A simple statement that the owner is the rightful owner of the horse and has the right to authorize the horse`s loan. Coverage on the part of the horse called “horse” 4: _____détails on where the horse is to be kept.
The contract should stipulate that the owner is notified in advance before the horse is moved and has the power to check the new farm. This is just one of hundreds of reasons why it is important for a loan agreement to be concluded before the loan begins. The loan agreement should be written down and deal with each element of what has been agreed. It must be signed by both parties and to protect the lender must deal with the following:- The law requires that a passport remain with the horse. Therefore, the passport must be kept by the person who has the primary care of the horse, if not the owner. When a horse is loaned and moved to a new farm, the loan must have the original passport. Many homeowners feel uncomfortable doing so, but there are a number of steps you can take to protect yourself that include: There are always other issues that should be included in the agreement that are specific to each loan, and that is why the single standard loan form contract is not an ideal option if a loan contract together. 6. How long will the loan be and what will happen when the term of the loan ends? This standard contract for horse representation serves only to guide and legal advice is needed to ensure that each contract is legally binding.
Use the agreement to lead a discussion about what the agreement will be before you directly accept the loan. If you address the points covered by the agreement, you can judge whether the other party is someone you want to do business with and what concerns they might have. The loan of a horse can sometimes be even more important than selling or buying.