Borrower Agreement
This Borrower Agreement outlines the terms and conditions for the loan of a specific item between a Lender and a Borrower. It details the item's condition, the agreed-upon return date, and the Borrower's responsibilities, including liability for loss or damage and penalties for late return. The document ensures clear understanding and accountability for the loaned item.
Borrower Agreement
[name of borrower] (hereafter “Borrower”) and [name of lender] (hereafter “Lender”) hereby agree to the following with regards to the borrowing of [item](hereafter “Item”):
The Lender agrees to loan the Item to the Borrower on [date]. [description of item]. The Item is in [condition] condition, as confirmed by the Lender.
The Borrower agrees to treat the Item with care and respect.
The Borrower agrees not to loan the Item to a third party without the explicit permission of the Lender.
The Borrower agrees to return the Item to the Lender no later than [date]. The Borrower agrees to pay [amount] for every day the item is not returned past the due date.
The Borrower agrees to return the Item to the Lender in the condition in which it was loaned. Should the Borrower lose, damage, impair, or break the Item, [he/she] will be liable for the full cost of repairing or replacing the Item.
In witness to their agreement to the terms of this contract, the parties affix their signatures below:
____________________________________ _________________________________
[borrower] [lender]
[signature] [signature]
[date] [date]
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