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Many people loan out horses on such an informal basis that, should something go wrong, it can be difficult to put right. This is where loan agreements come in.
A loan agreement should include:
- Statement of ownership – the animal is to remain the property of the owner
- Duration of loan
- Review date
- Notice required if cancelling agreement
- Insurance policy details – both parties should have adequate Third Party (legal liability) cover. The owner should take out a policy to cover the horse or pony plus tack, but the lessee may reimburse the premium. If a loan horse may be ridden, there should also be adequate Personal Accident cover
- Tack – items included in the loan; what they may be used for, who is responsible for repair
- Use of horse – limited or unlimited use(this should be in line with the insurance cover). May include or specifically exclude certain activities. If the animal is leased to a commercial establishment, will it be used for hire/reward?
- Rider – who will be the rider?
- Veterinary surgeon – the owner may wish to specify the name of a vet, although the loaner is responsible for “running costs”. The owner must be informed in advance of major surgery or total anaesthetic
- Farrier – is the horse to be shod? Are special shoes required or a particular farrier to be used?
- Owner’s specifications for feed, stabling, fencing and grazing – must the horse be stabled in winter?
- Special conditions – any vices, allergies should be clearly stated, along with names of feed supplements or medication that must be administered
- Rights of the owner to visit – frequency of visits; owner should be advised of any change in management or where the horseis to be kept
The British Horse Society publishes a leaflet on loaning, which includes a sample agreement. This also available online at www.bhs.org.uk under welfare leaflets.
Equine Legal has recently developed a software package, which enables owners to produce a bespoke agreement to suit their specific circumstances. For more details contact (tel: 01494 582083)
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