Bhs Permanent Loan Agreement

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, but there are a number of steps you can take to protect yourself, including: The British Horse Society (BHS) is firmly supportive of the use of a loan contract, whether you are the owner or 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. There are always other issues that should be included in the agreement, which are specific to the loan concerned, and that is why the single standard form, the loan agreement, is not an ideal option when a loan contract is established. 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. 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. It is therefore essential to develop a loan agreement that is tailored to specific needs and should be signed before the start of the loan period. If you wish to take a horse on a rental basis, you must not accept a horse that does not have a valid and current passport. Make sure that the name of the owner, whose horse you lend, is the current registered owner. 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.

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