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Product Loan Agreement
"I need a Product Loan Agreement for lending specialized medical equipment to a research facility in Kuala Lumpur for a 6-month period starting March 2025, with specific maintenance requirements and emergency support provisions."
1. Parties: Identifies and provides full details of the lender and borrower, including registration/identification numbers and addresses
2. Background: Contextualizes the agreement and explains the purpose of the product loan
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Product Details: Describes the product(s) being loaned, including specifications, condition, and value
5. Loan Terms: Specifies the duration of the loan, any applicable fees, and return conditions
6. Delivery and Collection: Details the arrangements for delivery and collection of the product
7. Use and Maintenance: Outlines permitted use of the product and maintenance responsibilities
8. Risk and Insurance: Allocates risk and specifies insurance requirements for the loaned product
9. Representations and Warranties: Contains statements of fact and promises made by both parties
10. Borrower's Obligations: Lists specific responsibilities and obligations of the borrower
11. Return Conditions: Specifies the condition in which the product must be returned
12. Termination: Details circumstances and procedures for early termination
13. General Provisions: Contains standard legal clauses including notices, amendments, and governing law
1. Security Deposit: Include when a security deposit is required for the loan
2. Training Requirements: Include when the product requires specific training or certification for use
3. Intellectual Property: Include when the loaned product involves software, patents, or other IP rights
4. Export Controls: Include when the product is subject to export control regulations
5. Sublending Prohibition: Include when explicit prohibition of sublending needs emphasis
6. Maintenance Schedule: Include when the product requires regular maintenance during the loan period
7. Emergency Procedures: Include when the product carries specific safety risks or emergency protocols
1. Schedule 1 - Product Specification: Detailed technical specifications and identification marks of the loaned product
2. Schedule 2 - Condition Report: Detailed assessment of the product's condition at the time of loan
3. Schedule 3 - Usage Guidelines: Specific instructions for proper use and handling of the product
4. Schedule 4 - Maintenance Requirements: Detailed maintenance procedures and schedules if applicable
5. Schedule 5 - Insurance Requirements: Specific insurance coverage requirements and terms
6. Appendix A - Delivery and Return Checklist: Checklist for product handover and return procedures
7. Appendix B - Incident Report Form: Template for reporting any incidents or damages during the loan period
Authors
Technology
Manufacturing
Healthcare
Education
Construction
Research and Development
Media and Entertainment
Automotive
Agriculture
Scientific Equipment
Professional Services
Retail
Legal
Operations
Procurement
Asset Management
Risk Management
Business Development
Product Management
Compliance
Finance
Research
Laboratory Operations
Facilities Management
Sales
Technical Operations
Legal Counsel
Contract Manager
Operations Manager
Procurement Manager
Asset Manager
Risk Manager
Business Development Manager
Product Manager
Compliance Officer
Finance Manager
Research Director
Laboratory Manager
Equipment Coordinator
Facility Manager
Sales Director
Technical Manager
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