Suggested loan agreement

Sample text to use as a template for loans

NB No liability is accepted for any deficiency in the terms of this suggested agreement and you are strongly advised to ensure it is adapted for your own particular situation before using it.


Loan Agreement

Name:
Address:
Loan period from:                                                         To:

           Definitions
The ‘borrower' is the person signing this form and borrowing the loaned equipment.
The ‘lender’ is the [insert name], its servants or agents.
The ‘loaned equipment' comprises of the [electric bicycle (serial number:-------------) and associated items of lock, key, lights, cycle computer, panniers (delete as appropriate)

           General
The lender shall not be liable for any damage or loss howsoever caused due to lack of suitability, damage or design of the loaned equipment. Any conditions or warranties not expressed and which might be implied on the part of the lender other than statutory warranties are excluded.

The borrower will not sell, hire, lend or otherwise part with possession of the loaned equipment.

If the borrower commits any breach of the terms of this agreement the lender will be entitled (without prejudice to any other right or remedy it may have) to terminate this agreement and recover possession without notice.

           Theft, loss or damage
It is the borrower's responsibility to return the loaned items before the end of the loan period in the condition they were at the start of the period. Borrowers are expected to notify of the lender of any theft, loss or damage within 24 hours of it happening. Swift notification is particularly important towards the end of the loan period to reduce the risk of disruption to future borrowers. In case of suspected theft or criminal damage, the police should be notified as soon as reasonably practical and in any event within 24 hours.  

The borrower is required to read and comply with the terms of insurance that cover the electric bicycle. If any theft, loss or damage is outside the terms of that insurance from the start of the loan period until the loaned equipment has been returned to the lender at a time and place previously agreed, the borrower undertakes to indemnify the lender to the replacement value of the loaned equipment. While reasonable wear and tear, such as punctures, is excluded, borrowers should ensure the equipment is returned in a usable condition. In addition, borrowers are requested to clean off any excess dirt from loan equipment before returning it.

           Fitness to cycle
Although using an electric cycle is not normally a strenuous activity, it is the responsibility of the borrower to ensure they have taken medical advice to ensure their fitness to cycle.

          Competence to cycle

It is the responsibility of the borrower to familiarise themselves with the advice in and requirements of the Highway Code and relevant road traffic law, as well as to comply with them. It is the responsibility of the borrower to ensure that they can ride and manoeuvre an electric cycle safely and competently. Borrowers are strongly advised to have completed cycle training to at least level 2 of national standards.


I accept these terms and conditions

….................................         ….............................            …....................
Signed                    Print name                Dated

 

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