Sample Loan Agreement Horse
Use the agreement to discuss what the agreement will be like before accepting the loan directly. By increasing the points that cover the agreement, you can assess whether the other party is someone you want to do business with and what their concerns may be. 2. The contact details of the owner and the borrower as well as confirmation that the parties will inform each other if they change. The law requires that a passport remain with the horse. Therefore, the passport must be kept by the person who has the primary maintenance of the horse if it is not the owner. If a horse is loaned and transferred to a new farm, the lender must have the original passport. Many homeowners are uncomfortable, but there are a number of steps you can take to protect yourself, including: the loan can be beneficial for both the borrower and the owner. Buying a horse or pony can be expensive, so many people borrow a horse instead, as it eliminates upfront costs, but involves many of the same responsibilities as owning a horse. The loan is a less permanent agreement than the purchase and can be a fantastic first step to having your own horse.
Horse owners may end up with a horse they grew up on, but don`t want to sell. In these situations, lending can be the ideal solution, as it allows the owner to keep ultimate control of the horse`s future, while someone else takes care of the daily work and care costs. For example, how much care the horse or pony will receive). The credit agreement should specify what is expected of the horse owner and the borrower. Make sure it is clearly dated and signed by all parties and contains: 9. However, as a basic minimum, you can take into consideration: this agreement is concluded on __ day by ____20__ And covers the proportion of horses: ___ For example, does your horse have an illness requiring special care or is your horse older and returning home? Your horse will be out of your daily control and there have been occasions when horses have been loaned to people considered trustworthy, but the horse unfortunately ends in a neglected state.