Agreement Overview:
It is agreed that the objects in this loan will remain in the condition received and will not be repaired, restored, cleaned, or altered in any way without the explicit permission of the Lender. The condition upon receipt is to be documented on the detailed condition report form attached hereto.
Damage and Condition Reporting:
· All damages to objects at any point in this loan from the received date until return will be reported to the Lender immediately via detailed incident reports.
· Condition reports will be completed both upon receipt and before the return of the objects, with periodic assessments conducted quarterly for long-term loans.
Restrictions on Use:
· The objects may not be lent to a third party without the advance written approval of the Lender.
· The objects are to be used solely for the purposes agreed upon, and any deviation requires prior written consent from the Lender.
Photography and Reproduction Controls:
· Objects may only be photographed with the explicit permission of the Lender.
· The borrower agrees that photographs taken of these items will be used only for the purposes stated on this form and for the number of times stated.
· The Lender will receive copies of all photographs, and publications of photographs of the items will include a credit line acknowledging the objects are the property of the Lender.
Loan Responsibilities:
· The borrower is responsible for all aspects of the loan including packing, transportation, insurance, and any other necessary arrangements unless otherwise specified.
· The borrower is responsible for ensuring the timely and safe return of the loan at the agreed-upon time.
Insurance and Risk Management:
· The Lender may require proof of insurance and may wish to have its name included on the policy.
· Upon request, the borrower will provide a copy of the insurance policy detailing the coverage.
Termination of Loan:
· Either party may terminate the loan with 30 days’ written notice.
· In the event of loan termination, the borrower is responsible for the immediate and safe return of the loaned items, adhering to the stipulated conditions and terms.