Broodmare Loan Agreement

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. 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. A good horse loan or lease document should allay the fears of both parties. 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. 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. 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. Second, it serves as a record of what has been agreed, so that it can help avoid any misunderstandings as soon as the credit is in effect and the problems are out of control. 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. Horse leasing (and/or loan) is a regular deposit in all equine disciplines. Whether you`re renting a well-grown farm skirt for a breeding program or a first pony, leases and loan agreements must always be written down. 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). 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 homeowners feel uncomfortable doing so, but there are a number of steps you can take to protect yourself that include: Use the agreement to conduct a discussion about what the deal will be before you directly accept the loan.

This entry was posted in Uncategorized by admin. Bookmark the permalink.

Comments are closed.