The loan 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: This agreement is made on the date of `20`20` and `20`; second, it acts as a record of what has been agreed, so that it can help to avoid any misunderstanding as soon as the credit is in effect and before the problems are out of order. The use of a formal written document may seem unnecessary among friends, but it is in the interest of both parties, long-standing friendship and the horse. First, it can be used for planning. The structure of the agreement forces both sides to think about what is important to them (for example. B the level of care the horse or pony will receive). If you need advice in the event of a breach of contract, this will be considered a civil matter and professional legal advice should be sought. Unfortunately, the BHS cannot contribute directly to the resolution of civil cases. The loan can be beneficial for both the borrower and the owner.
Buying a horse or ponies can be expensive so many people are looking to borrow a horse instead because it takes away the initial cost, but with many of the same tasks as owning a horse. The loan is a less durable deal than buying and it can be a fantastic first step to having your own horse. 9. Who pays what – and who pays the deductible if the horse is to be insured (this should be stated in the contract? 5. Will the person who lends the horse pay the owner for the loan? If so, how much, when and how will it be paid for? 6. How long will the loan be and what will happen when the term of the loan ends? The proportion of horse called “horse” should not be accepted by a horse that is not accompanied by a valid and current passport. Make sure that the name of the owner, whose horse you lend, is the current registered owner. 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. 3. A simple statement that the owner is the rightful owner of the horse and has the right to authorize the horse`s loan. Storing several thousand pounds is not the only way to reach the wonderful world of horse ownership.
The credit is delivered without the cost of pre-purchase, but all the benefits are the same. The British Horse Society (BHS) is strongly in favour of a loan agreement, whether you are a homeowner or a borrower. In addition to the establishment of a legal contract and the protection of both parties in the law, the application of such an agreement has several additional advantages over an informal or oral agreement. 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. 10. Indicate what should happen if the horse has to fall asleep.
Who will make that decision? How quickly does the borrower have to inform the landlord and can the borrower approve it if it fails to control the owner? 1. Name, size, color, sex, microchip number and horse or pony age, so the purpose of the loan is clear. This standard contract for horse representation serves only to guide and legal advice is needed to ensure that each contract is legally binding.