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Loan Contract Template 1

Loan Contract Template 1
Sample Loan Agreement
The sample loan agreement below is a GUIDE only to the sort of agreement that may
be made between the owner of a horse and the person agreeing to take it on loan.
When amended and completed with your own particulars and signed by both parties
it will form a legally binding agreement. However, if you are lending out a valuable
horse and/or if the person to whom you are lending it is unknown to you, you are
strongly advised to take up references and to ask your legal adviser to check the
completed document.
NOTE
Plain text should be included; bold italics shows where amendments are needed;
italics only are sample clauses you may wish to include.
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The AGREEMENT
This agreement is made on the (Insert DATE) between the parties (Insert Owner's
Name & Address) (hereafter referred to as the OWNER) and (Insert Borrower's
Name and Address) (hereafter referred to as the BORROWER) for the loan of
(insert description and name of horse - e.g. 16.2 hand high bay gelding aged 15
years approx. with white blaze and white sock, off hind, known as Tumbledown - also
identified in the diagram/photograph attached) (hereafter referred to as the HORSE.)
The HORSE is to be used as (a companion/riding horse/child's pony as
appropriate) and not for hire or reward.
(1) The loan period will start on (Insert DATE) and continue for a period of 12
months until (Insert DATE) when the loan agreement may be:
1.1) Extended for a period of time to be agreed between the parties or
1.2) The HORSE is to be returned to the OWNER. (Delete or amend if
required.)
(2) The Loan may be terminated on or before this date if:
2.1) The BORROWER no longer wishes to loan the HORSE. The
BORROWER will inform the OWNER in writing, no less than 30 days before
the HORSE (and all associated equipment as detailed in Section 12) will be
returned in a good condition to the OWNER.
2.2) The OWNER believes the HORSE is not being treated or looked after in
the correct manner. The OWNER may at his own discretion give the
BORROWER a specific period of time during which the BORROWER must
rectify any reasonable issues that the OWNER may have. The OWNER
hereby reserves the right to remove the HORSE at his own expense from the
BORROWER with no notice whatsoever.
(3) The HORSE is to be kept at (insert livery yard/farm/borrower's premises as
applicable) unless it is agreed by the OWNER in writing that the HORSE may be
moved to alternate accommodation.
Loan Contract Template 1
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