3. A simple statement that the owner is the rightful owner of the horse and has the right to authorize the horse`s loan. Before you sign anything, make sure you have carefully examined the person who lent the horse. Photograph the horse with the person and write down the registration data of the horse box or car. 7. Notice (for example. B four weeks) for the return of the horse if the circumstances of one of the parties change. 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 loan of a horse can sometimes be even more important than selling or buying. As a loan player, you take the risk of putting a potentially valuable horse into the care and training of another person. And there have been recent cases of people claiming to borrow a horse under a false name and then sell the horse without a trace. It is therefore of the utmost importance to make sure to whom you lend your horse.
Be sure to consider all the factors before borrowing your horse, especially the horse`s ability, as well-being is of the utmost importance. Does your horse, for example, have a disease that requires specialized care, or is your horse older and going to a mate? 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 up in a neglected state. We always recommend asking for references for potential credit homes, looking at the loan at home, and then visiting your horse regularly to check their health and well-being. This is a binding contract, possibly invoked by the Tribunal. Protecting your horse is always the ultimate goal, and in concluding a formal agreement, that`s exactly what you`re doing – making sure you`ve done your best to secure your horse`s future. The law requires that a passport remain in the horse`s place. 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 owners feel uncomfortable doing so, but there are a number of steps you can take to protect yourself that include: 4. Details where the horse will 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.
There are always other issues that should be included in the agreement, which are specific to the loan concerned, and that is why the single standard form, the loan agreement, is not an ideal option when a loan contract is established. 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. 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? Loan agreements can be entered into in person or by a lawyer. However, we still recommend involving an impartial lawyer trained to ensure that all areas of darkness are covered.