To discuss your horse`s loan and get professional help in developing a loan agreement, please contact Rebecca Stuart on 01275 850470. To help resolve disputes, please contact James Taylor on 01454 204880. For a loan to work well, both parties must agree on their responsibilities and ensure that all contingencies are planned, especially what will happen when the loan expires unexpectedly. We strongly discourage a written agreement. Make sure the agreement is acceptable to both parties; Don`t agree with something if you don`t intend to put it into practice or if you don`t agree. A loan contract is an important way to reduce risk and protect the owner, the loan player and, of course, the horse. 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. 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? 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. 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. There is no apparent reference point between the terms of a horse loan and the terms of a lease. The only real differences relate to the terms of payment in the lease. 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. 3.
A simple statement that the owner is the rightful owner of the horse and has the right to authorize the horse`s loan. 2. The contact information of the owner and the borrower, as well as confirmation that the parties will inform each other in the event of a change. The owner`s most obvious concern is the maintenance of the horse or pony. This is probably the case, whether the animal is a Class A jumper or a breeding mare. The borrower is more concerned about a record of the conditions at the beginning of the loan and clear conditions, as the owner wants to keep the horse or pony. 6. How long will the loan be and what will happen when the term of the loan ends? A good horse loan or lease document should allay the fears of both parties. Both parties could reach the agreement because they normally protect both parties. However, the person who submits the agreement first has a considerable advantage because he or she is able to adapt it to its specific requirements. It is always easier psychologically to accept terms that are presented to you than to refute you.