British Horse Society Loan Agreements

Make a detailed inventory of the tack and equipment that go with the horse and its condition. If you lend your horse to strangers, do some research, or you are one of the unfortunate people who will never see their horse again. 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. If the borrower does not respect the terms of the agreement, the owner can recover the horse before the end of the term. The type of horse you buy or borrow depends on your skills and the activities you want to participate in. Your coach should be able to help you in your search and give you advice on what would be the right horse for you and what you should pay attention to. If you wish to borrow a horse, you should not accept a horse that is not accompanied by a valid and current passport. Verify that the name of the owner from whom you are borrowing the horse is the currently registered owner. For a loan to work well, both parties must agree on their responsibilities and ensure that all eventualities are foreseen, 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. Don`t accept something if you don`t intend to put it into practice or you don`t agree. A credit agreement is an important way to reduce risk and protect the owner, the borrower and, of course, the horse. Borrowing or renting your horse can be an ideal solution if circumstances prevent you from taking care of it, but you don`t want to sell. This is a binding contract that can be invoked by judicial means if necessary. Protecting your horse is always the ultimate goal, and by making a formal agreement, you`re doing just that โ€“ make sure you`ve done your best to secure your horse`s future. All British horses need a horse passport and a chip. A horse passport is a small notebook, usually the size of a sheet of A5 paper, that each horse identifies based on its size and breed. All since the 1st Passports issued on 1 July 2009 must have a microchip number. Do not forget to specify the conditions for termination of the contract. It`s usually a month in advance, although a schedule would be fairer when the horse shows up….