Loan Agreements

[icestationzebra]

Hi there
Has anyone written their own loan agreement or made changes to a standard one such as the BHS one? Any tips or clauses that you added? I'd be really interested to hear views on this and the things you added and your reasons why you did so - if you don't mind sharing that is. Obviously if anyone can point out any major pitfalls you experienced I'd be grateful to hear about those too!!

Thank you!

 

[Jane_Lou]

I amended the BHS one for my little lead rein/first ridden pony - I have made it quite basic as her needs are limited and I am not for example insisting that she is insured for other than vets fees and third party - it is up to the loaner to decide what else they add, if anything happened I would not be asking for money from them thats for sure! If I had a valuable horse that I was loaning (and yes she is priceless but you know what I mean!) I might have considered paying for a solicitor to review it.

 

[Ferdinase514]

Weve pretty much just used the BHS one for ours, you can just adapt to your circumstances - we add clauses about activities they can/cant do, what equipment goes with them, who can ride, rights to visit, notice periods.

 

[popsdosh]

I would strongly advise if the horse has to be insured insure it in your name and ask them to pay you the premium.You have a lot more protection that way.

 

[chestnut cob]

Yes I amended the BHS one. Make sure you add in any tack, rugs or other equipment you send the horse with so you have a chance of getting it back. I put a clause in about what the horse can and, maybe more importantly, *can't* be used for. Any things you are particular about management-wise (soaked hay, feed restrictions, turnout restrictions, or "must be out 24/7", that sort of thing).

When I put my Welshie out on loan I kept on my insurance and had the loaner reimburse me so I included a clause about that too.

I loaned out the Welshie twice and the most important thing I'd say is go with your gut feeling... I ignored mine first time and it went horribly wrong. Second time around I went with gut feeling and the family who loaned him (then eventually bought him) were/are wonderful.

 

[sam-b]

I included that my mate must be twitched to be shod (as otherwise is dangerous) and that the loaners are to pay me her insurance costs each month but I
Keep the insurance up

 

[millitiger]

Yep, I used the BHS one but modified it quite a bit.

I specified must be turned out every day unless injured, must be shod minimum every 6 weeks, must have teeth and back checked at least once a year, etc.

As he was eventing I also put the maximum events he could do every year (I think I put 10?) to make sure he wasn't hammered into the ground.

I kept him insured and the girl paid me in full for year's insurance when she picked him up- I gave the insurance company her details and they were advised she was primary carer for the horse (but all payouts would have gone to me).

I have a copy on my computer at home if you want it?

Mine is quite detailed and sounds quite strict but I just wanted to make sure the horse was protected and looked after and the girl loaning him had no issues with any of it.

 

[Annette4]

This would be a great help to me at the moment too actually if someone could send me some examples? I have a feeling I'm going to be making it stricter than the owner though but I'd rather they had peace of mind!

 

[icestationzebra]

Thanks everyone! Millitiger I'd be interested to see a copy of yours if you don't mind sharing? Will pm you

 

[Cuffey]

Dont forget to use your passport to link into NED and put into User Added--on loan NOT for sale with a picture.
Take a copy of the passport
Take a picture of loanee with your horse
Ask to see Household bills--prove they are who they say they are

Lots of advice on Missing Horses On Loan http://www.missinghorsesonloan.co.uk/

 

[nixxyz]

Make sure it is witnessed when signed otherwise its useless, personally if i were to loan again, id have a solicitor look it over as i made the mistake the first time of only having my signature and the girl loaning's signature, and when it went wrong i didnt have a leg to stand on.
i put a clause in mine that stated the horse was never to be left out alone or stabled alone or she would go nuts and hurt herself. I also put in what she was to be fed and any changes were to be ran by myself first. A weight limit was a must too as she was a big horse, but had no topline so wasnt up to carrying a lot of weight. I even went as far as saying how often she was to be schooled. Sadly despite all the effort in the contract to make things as safe as possible when the lass continually left the horse alone she stressed a fair amount of weight off and subsequently was removed from said girls possession.