Borrower Agreement
Updated 17 October 2025
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]
About this template
What is this template?
Borrower Agreement is a free, ready-to-use Commercial law template you can open, customize, and download on GitLaw. It gives you a professionally structured starting point, so you never have to draft from a blank page. The wording is plain and modern, organized into clear sections that are easy to read, edit, and adapt to your own situation before you share or sign it.
When should you use it?
Reach for this Commercial law template whenever you need a reliable agreement quickly and want to be sure the essentials are covered. It suits individuals, freelancers, startups, and established businesses alike. Instead of paying for a document drafted from scratch, you can start here, tailor the details to your arrangement, and have a polished draft ready in minutes. Always review the final wording against the laws that apply where you live or do business.
What's typically included?
A well-drafted Commercial law usually sets out the parties involved, the scope of the agreement, and each side's rights and responsibilities. Expect sections covering key terms and definitions, how long the agreement lasts, how it can be ended, and what happens if something goes wrong. This template brings those building blocks together in a sensible order, so you can focus on the specifics rather than worrying about what to include. Open it to read the full document, then sign up to edit, negotiate, and e-sign it directly in GitLaw.