For a loan to work well, both parties involved need to agree on their responsibilities and ensure that all eventualities are planned, 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. You disagree with something if you don`t intend to put it into practice or if you don`t agree with it. A loan agreement is an important way to reduce risk and protect the owner, borrower and, of course, the horse. All horses in the UK need a horse passport and microchip. A horse passport is a small book, usually the size of an A5 paper, that identifies each horse by size and breed. All passports issued since 1 July 2009 must bear a microchip number. Loan agreements can be as simple or as complicated as the owner and lender want.
The loan agreement is essentially a statement of fact that confirms ownership and the expected amount of the loan, as well as a set of guidelines that both parties can refer to to ensure that they get the most out of their agreement. Start with the name, address and phone number of the owner and borrower, as well as the details of the horse and the duration of the loan/lease. If you wish to take a horse on a rental basis, you are not allowed to accept a horse that does not have a valid and up-to-date passport. Make sure that the name of the owner whose horse you are lending is the current registered owner. The content of the loan agreement is personal to you and should reflect your wishes and plans for the future. In principle, however, you should note the following: When buying a horse, it is always advisable to have a pre-purchase check carried out by the veterinary practice of your choice. A basic or insurance check consists of two levels (in the stable and in the hand), while a five-step check looks at all aspects of the horse, even under the saddle. The prospect of borrowing a horse is exciting, but there are a number of important considerations, such as time and finances, that need to be carefully considered before deciding to borrow. The decision to borrow a horse should not be taken lightly or rushed, as a horse that turns out to be unsuitable or dangerous can be extremely annoying. It can also potentially put the new borrower in a difficult situation.
The law requires a passport to stay with the horse. Therefore, the passport must be kept by the person who has primary care for the horse, if not the owner. When a horse is borrowed and moved to a new farm, the borrower must have the original passport. Many homeowners feel uncomfortable with this, but there are a number of steps you can take to protect yourself, including: This deal is made during the day. Second, it serves as a record of what has been agreed, so it can help avoid misunderstandings once the loan is in effect and before the problems get out of control. The use of a formal written document may seem unnecessary between friends, but it is in the interest of both parties, the long-standing friendship and the horse. www.bhs.org.uk/our-charity/press-centre/news/2019/november/horse-sale-agreement If you need advice in the event of a breach of contract, this should be considered a civil matter and seek the advice of a professional lawyer. Unfortunately, the BHS cannot contribute directly to the settlement of civil cases.
First of all, it can be used for planning. The structure of the agreement forces both parties to think about what is important to them (e.g. B the level of care the horse or pony receives). The loan can be beneficial for both the borrower and the owner. Buying a horse or pony can be expensive, so many people want to borrow a horse instead because it takes away the initial cost, but with many of the same tasks as owning a horse. Horse owners may end up with a horse they have passed but do not want to sell. In these situations, borrowing can be the ideal solution as it allows the owner to maintain ultimate control over the horse`s future while someone else takes care of the day-to-day work and cost of care. Borrowing can be beneficial for both the borrower and the owner. Buying a horse or pony can be expensive, so many people want to borrow a horse instead because it eliminates the initial cost, but comes with many of the same responsibilities as owning a horse. Borrowing is a less permanent deal than buying and can be a fantastic first step to having your own horse. If you need advice regarding a breach of contract, this will be classified as a civil matter and professional legal advice should be sought. Unfortunately, the BHS cannot directly assist in resolving civil law issues.
Lending is a less sustainable business than buying and it can be a fantastic first step to having your own horse. The law requires a passport to stay in the horse`s place. Therefore, the passport must be kept by the person who has primary care for the horse, if not the owner. If a horse is borrowed and moved to a new farm, the loan must have the original passport. Many owners feel uncomfortable doing so, but there are a number of steps you can take to protect yourself that go with it: The prospect of horses for sale, rent or buy is exciting – but there are a number of important factors to consider when buying a horse. The British Horse Society (BHS) is strong in favour of a loan agreement, whether you are an owner or a borrower. In addition to entering into a legally valid contract and protecting both parties in law, the application of such an agreement has several additional advantages over an informal or oral agreement. 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 maintain ultimate control over the horse`s future while someone else takes care of the day-to-day work and costs associated with caring for the horse. The basics include the borrower agreeing to take care of the animal and take responsibility for the horse when it is in its custody. The loan can be beneficial for both the borrower and the owner.
Buying a horse or pony can be expensive, so many people want to borrow a horse instead because it takes away the initial cost, but with many of the same tasks as owning a horse. Lending is a less sustainable business than buying and it can be a fantastic first step to having your own horse. Once you`ve laid the groundwork for horseback riding during your classes at an equestrian center, you can think about having your own horse. However, if you are considering buying or renting a horse, you need to ask yourself a number of questions to make sure that you can choose the best horse partner and take enough care of it. The type of horse you buy or rent depends on your skills and the activities you want to participate in. Your coach should be able to help you with your research and advise you on what is right for you and what to look out for. 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 maintain ultimate control over the horse`s future while someone else takes care of the day-to-day work and costs associated with caring for the horse. Be sure to consider all factors before borrowing your horse, especially the horse`s suitability, as well-being is paramount. For example, does your horse have an illness that requires special care, or is your horse older and going to a companion at home? Your horse will be out of your daily control and there have been cases where horses have been loaned to people considered trustworthy, but the horse unfortunately finds itself in a neglected state.
We always recommend that you ask for references for potential credit houses, visit the credit house, and then visit your horse regularly to check on his health and well-being. If you wish to rent a horse, you must not accept a horse that is not accompanied by a valid and up-to-date passport. Verify that the name of the owner from whom you are borrowing the horse is the current registered owner. Not a member yet? To access the legal helpline and a host of other benefits, join the BHS now. However, if you are a BHS Gold member, you can get a great free consultation by calling the Legal Helpline. .
