Another example is that the rental player requires that the horse be taken care of by a certain Farrier/veterinarian, where the horse has specific needs. This is just one of hundreds of reasons why it is important for a loan agreement to be concluded before the loan begins. The loan agreement should be written down and deal with each element of what has been agreed. It must be signed by both parties and, in order to protect the lender, it must deal with the following:- This agreement will be the day of a horse`s loan being considered exciting, but there are a number of important considerations, such as time commitment and finances, that must be carefully considered before they choose to lend it. The decision to borrow a horse should not be taken lightly or hastyly, as it can be extremely annoying to have a horse that is unsuitable or dangerous. It can also leave the new borrower in a difficult situation. The most common point of disagreement that a lender must take into account is a disagreement on what has been agreed as to who pays for what. For example, if there is a large veterinary bill and there is no insurance to cover that bill, there may be a dispute over who pays it. The borrower may be responsible for the vet`s bill, since they own the horse, but if it is the borrower who is the client of the veterinary practice concerned and the borrower has ordered the vet to visit the horse (which is most often the case since they have daily control of the horse`s maintenance), the veterinarian may be required to follow the borrower to pay the bill. The law requires that a passport remain in the horse`s place. Therefore, the passport must be kept by the person who has the primary care of the horse, if not the owner. When a horse is loaned and moved to a new farm, the loan must have the original passport. Many homeowners feel uncomfortable doing so, but there are a number of steps you can take to protect yourself that include: For any credit to work well, both parties must agree on their responsibilities and ensure that all contingencies are foreseen, especially what will happen if the credit ends unexpectedly.