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Instrument Loan Agreement
"I need an Instrument Loan Agreement for lending our university's high-end microscope to a research partner for 6 months starting March 2025, with specific maintenance requirements and insurance obligations."
1. Parties: Identification and details of the lender and borrower
2. Background: Context of the loan arrangement and purpose
3. Definitions: Key terms used throughout the agreement
4. Loan Details: Description of the instrument(s) being loaned
5. Term of Loan: Duration and return date
6. Care and Maintenance: Responsibilities for instrument maintenance and condition
7. Return Conditions: Requirements for returning the instrument
1. Insurance: Insurance requirements for the instrument - used for high-value instruments or where specific risks exist
2. Security Deposit: Details of any required deposit - used for valuable instruments or unknown borrowers
3. Usage Restrictions: Specific limitations on instrument use - used for specialized or sensitive instruments
1. Schedule 1: Instrument Description: Detailed description and condition report of the instrument
2. Schedule 2: Maintenance Requirements: Specific maintenance procedures and schedules
3. Schedule 3: Insurance Details: Insurance coverage requirements and policy details
4. Appendix A: Photographs: Visual documentation of instrument condition at time of loan
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