This agreement will be the day of _____ Use the agreement to discuss what the agreement will be before accepting the loan directly. By increasing the points that cover the agreement, you can assess whether the other party is someone you want to do business with and what their concerns may be. The British Horse Society (BHS) strongly supports the use of a credit agreement, whether you are the owner or the borrower. In addition to the constitution of a legal contract and the legal protection of both parties, the use of an agreement like this has several additional advantages over an informal or oral agreement. For a loan to work well, both parties must agree on their responsibilities and ensure that all eventualities are foreseen, especially what will happen if the loan ends unexpectedly. We strongly recommend that you enter into a written agreement. Make sure the agreement is acceptable to both parties. Don`t accept something if you don`t intend to put it into practice or you don`t agree. A credit agreement is an important way to reduce risk and protect the owner, the borrower and, of course, the horse. If you wish to borrow a horse, you should not accept a horse that is not accompanied by a valid and current passport. Verify that the name of the owner from whom you are borrowing the horse is the currently registered owner. The BHS creates a free horse credit agreement.
We do not think it covers all practical issues. The designer of the Net Lawman version has owned and horses for 40 years. It has taken into account many other options based on the practical experience of oneself and others. The result is a document that better protects your interests. Our version is easy to complete and very extensive. Horse owners may end up with a horse they grew up on, but don`t want to sell. In these situations, lending can be the ideal solution, as it allows the owner to keep ultimate control of the horse`s future, while someone else takes care of the daily work and care costs. The law requires that a passport remain with the horse. Therefore, the passport must be kept by the person who has the primary maintenance of the horse if it is not the owner. If a horse is loaned and transferred to a new farm, the lender must have the original passport. Many homeowners feel uncomfortable, but there are a number of steps you can take to protect yourself, including: If you need advice on a breach of contract, it becomes a civil matter and professional legal advice should be sought. Unfortunately, the BHS cannot directly help resolve civil issues.
Secondly, it serves as a record of what has been agreed, so it can help avoid any misunderstandings once the credit is in effect and before the problems slip.. . . .