www.bhs.org.uk/our-charity/press-centre/news/2019/november/horse-sale-agreement 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 prospect of borrowing a horse is exciting, but there are a series of important reflections, such as time and finances, that need to be carefully considered before choosing a loan. The decision to borrow a horse should not be taken lightly or rushed, as a horse that turns out to be unsuitable or uncertain can be extremely annoying. It can also put the new loan in a difficult situation. A loan agreement or agreement is an important way to reduce risk and protect the owner, the lender and, of course, the horse. 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. 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 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. The most common dispute a lender should pay attention to is a disagreement over what has been agreed as to who pays what. For example, if a large veterinary bill is charged and there is no insurance to cover that bill, there may be a dispute over who pays it. It may be that the borrower is responsible for the veterinarian`s bill, given that he owns the horse, but if it is the borrower who is the client of the veterinary practice concerned and if the borrower has ordered the veterinarian to visit the horse (which is most often the case since he has daily control of the horse`s care), the veterinarian must possibly follow the borrower for the payment of the horse. That`s the bill.
An example of a specific requirement to include to protect the loan player is that the borrowed horse has been subjected to daily cooking field operation and that specific care requirements must be included in the loan agreement to ensure that the horse is not put at risk. It is therefore essential to draw up a credit agreement adapted to specific needs and which should be signed before the start of the loan period.. . . .