This is a fairly common arrangement at Universities who are members of Division I of the NCAA. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legal document that outlines the terms and conditions of borrowing an automobile for promotional activities by the athletic department of a university. This agreement is crucial for establishing the responsibilities and obligations of both parties involved in the loan process. The primary purpose of this agreement is to facilitate the promotion and branding of the university's athletic department. By loaning an automobile, the university can utilize it for various promotional purposes such as parades, fundraisers, community events, or even transporting athletes to competitions. This agreement helps ensure that the loaned vehicle is used exclusively for authorized promotional activities and that it is protected from any damages or misuse. The main components of the Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically include: 1. Agreement Parties: This section identifies the involved parties, namely the university or college lending the automobile (lender) and the athletic department (borrower) responsible for its use. 2. Vehicle Description: Detailed information about the automobile being loaned is specified here. This includes the make, model, year, color, license plate number, and any distinct features or markings of the vehicle. 3. Loan Purpose: The purpose of the loan should be clearly defined, emphasizing that the vehicle will only be used for promotional activities related to the university's athletic department, as agreed upon by both parties. 4. Loan Duration: The agreement should establish the start and end dates of the vehicle loan. Any extensions or modifications to the loan period should also be noted. 5. Maintenance and Insurance: This section outlines the obligations of the borrower concerning vehicle maintenance, including regular servicing, repairs, and keeping the automobile in roadworthy condition. It also stipulates the requirement for proper insurance coverage against accidents, theft, or damages caused during the loan period. 6. Responsibilities and Liabilities: This part outlines the responsibilities of both parties. The borrower is usually responsible for any costs associated with repairs, maintenance, fuel, or any fines or penalties incurred during the loan period. The lender may specify limitations on the distance traveled, prohibited uses, or other conditions to protect their interests. 7. Indemnification and Hold Harmless Clause: This clause safeguards the lender from any liabilities arising from the borrower's use of the loaned automobile. It states that the athletic department will indemnify and hold harmless the lender against any claims, damages, or losses incurred. It is essential to review and understand the Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes carefully before signing. Different types of agreements may exist depending on factors such as the duration of the loan, specific vehicle policies of the university, or customized terms based on mutual negotiation between the lender and borrower.The Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legal document that outlines the terms and conditions of borrowing an automobile for promotional activities by the athletic department of a university. This agreement is crucial for establishing the responsibilities and obligations of both parties involved in the loan process. The primary purpose of this agreement is to facilitate the promotion and branding of the university's athletic department. By loaning an automobile, the university can utilize it for various promotional purposes such as parades, fundraisers, community events, or even transporting athletes to competitions. This agreement helps ensure that the loaned vehicle is used exclusively for authorized promotional activities and that it is protected from any damages or misuse. The main components of the Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically include: 1. Agreement Parties: This section identifies the involved parties, namely the university or college lending the automobile (lender) and the athletic department (borrower) responsible for its use. 2. Vehicle Description: Detailed information about the automobile being loaned is specified here. This includes the make, model, year, color, license plate number, and any distinct features or markings of the vehicle. 3. Loan Purpose: The purpose of the loan should be clearly defined, emphasizing that the vehicle will only be used for promotional activities related to the university's athletic department, as agreed upon by both parties. 4. Loan Duration: The agreement should establish the start and end dates of the vehicle loan. Any extensions or modifications to the loan period should also be noted. 5. Maintenance and Insurance: This section outlines the obligations of the borrower concerning vehicle maintenance, including regular servicing, repairs, and keeping the automobile in roadworthy condition. It also stipulates the requirement for proper insurance coverage against accidents, theft, or damages caused during the loan period. 6. Responsibilities and Liabilities: This part outlines the responsibilities of both parties. The borrower is usually responsible for any costs associated with repairs, maintenance, fuel, or any fines or penalties incurred during the loan period. The lender may specify limitations on the distance traveled, prohibited uses, or other conditions to protect their interests. 7. Indemnification and Hold Harmless Clause: This clause safeguards the lender from any liabilities arising from the borrower's use of the loaned automobile. It states that the athletic department will indemnify and hold harmless the lender against any claims, damages, or losses incurred. It is essential to review and understand the Nevada Agreement to Loan Automobile to University Athletic Department for Promotional Purposes carefully before signing. Different types of agreements may exist depending on factors such as the duration of the loan, specific vehicle policies of the university, or customized terms based on mutual negotiation between the lender and borrower.
