9. Who pays for what – and if the horse must be insured (this should be stated in the contract), who pays the deductible? Tripping through several thousand pounds isn`t the only way to join the wonderful world of horse ownership. The loan is made without the pre-emption fees, but all the benefits are the same. 10. Indicate what should happen if the horse is to be put on. Who will make this decision? How quickly should the borrower inform the owner and, if he is unable to reach the owner, can the borrower authorize it? The credit agreement should specify what is expected of the horse owner and the borrower. Make sure it is clearly dated and signed by all parties and contains: be sure to consider all factors before lending your horse, especially the horse`s suitability, as well-being is of the utmost importance. Does your horse, for example, have an illness that requires special care, or is your horse older and going to a companion? Your horse will be out of your daily control and there have been opportunities to lend horses to people considered trustworthy, but the horse unfortunately ends up in a neglected state. We always recommend that you ask for references for potential credit institutions, visit the credit house, and then visit your horse regularly to check his health and well-being. Second, 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. The use of a formal written document may seem unnecessary between friends, but it is in the interest of both parties, long-term friendship and the horse. 8. What can we do with the horse? Indicate all disciplines for which the horse should not be used.
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. This standard contract for horse shares is for guidance purposes only and legal advice should be sought to ensure that any contract is legally binding. 4. Details of where the horse is to be kept. The contract should be informed in advance that the owner is informed before the horse moves and that he has the power to check the new farm.
The granting of credit can be beneficial for both the borrower and the owner. Buying a horse or pony can be expensive, so many people borrow a horse instead, as it eliminates upfront costs, but involves many of the same responsibilities as owning a horse. The loan is a less permanent agreement than the purchase and can be a fantastic first step to having your own 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. 2. The contact details of the owner and borrower as well as confirmation that the parties will inform each other if they change. 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. First, 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 how much maintenance the horse or pony will receive.. . . .