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. The prospect of lending a horse is exciting, but there are a number of important considerations, such as time commitment and finances, that need to be carefully rethought before choosing a loan. The decision to borrow a horse should not be taken lightly or hastyly, as it can be extremely annoying to have a horse that is unsuitable or dangerous. It can also leave the new borrower in a difficult situation. This contract is set for the date. We do not think it covers all practical issues. The designer of the Net Lawman version has owned and ridden horses for 40 years. It has taken into account many other options based on practical experience of oneself and others.
The result is a document that better protects your interests. Our version is simple to complete and very complete. 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. Horse owners may end up with a horse they grew up with but don`t want to sell. In these situations, credit 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 costs associated with the maintenance of the horse. The contract defines the terms of the loan. It is a legally binding agreement that is ideal for people who wish to protect their legal interests in cases where they lend and/or lend a horse. 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. An example of a specific requirement to be included in the protection of the rental device is that the borrowed horse has undergone a cooking day operation and that specific maintenance requirements must be included in the loan agreement to ensure that the horse is not endangered. 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. 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. The law requires that a passport remain in the horse`s place.