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Loan Agreement For Horse

6. How long will the loan last and what will happen when the loan term ends? 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. 3. A simple explanation that the owner is the rightful owner of the horse and has the right to have the horse borrowed. If you need advice in the event of a breach of contract, this is considered a civil matter and professional legal advice should be sought. Unfortunately, the BHS cannot directly help resolve civil issues. 5. Will the person lending the horse pay the owner for the loan? If so, how much, when and how will it be paid? 1.

Name, size, color, gender, microchip number and age of the horse or pony so that the purpose of the loan is clear. 10. Determine what should happen if the horse should be inserted. Who will make this decision? How quickly should the borrower inform the owner and, if he is unable to reach the owner, can the borrower authorize it? There are always other topics that should be included in the agreement, which are specific to the loan in question, and therefore, the standard credit agreement „uniform for all” is not an ideal option if you take out a credit agreement. 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 owners feel uncomfortable, but there are a number of steps you can take to protect yourself, including: 8.

What to do with the horse? Indicate all disciplines for which the horse should not be used. 9. Who pays for what – and if the horse must be insured (this should be stated in the contract), who pays the deductible? Borrowing a horse can sometimes be more important to many horse owners than selling or buying. As a lender, you take the risk of putting a potentially valuable horse into the care and training of another person.