An instrument loan contract is a legal document which is drafted when an individual or an organisation takes an instrument or set of instruments on loan from another individual or an organisation. These types of contracts can be drafted for various different types of instruments like musical instruments, scientific instruments, electrical instruments and others. An instrument loan contract includes details of the parties involved, types of instruments taken on loan and other terms and conditions.
Sample Instrument Loan contract:
Lease contract Number: 84/ SC
This loan contract is entered between Ms Rachel Symonds, hereinafter known as the Owner, AND, Mr Peter Lee, hereinafter referred as the borrower. As per the contract, owner will give his set of musical instruments on loan to the borrower. The instruments being taken as loan are 5 guitars, 2 Drum sets and 10 Banjos
This contract is commencing on December 10th, 2011 and is ending on April 10th, 2012.
Permanent address details of the parties:
- The Borrower
Address: E-90, Munich School of Music, Winter park, FL, USA
Phone: (879) 843-7112
- The Lender
Address: 765, Springfield Blvd. FL, USA
Phone: (672) 818-7982
Hereby, to obey the instrument loan contract, following mentioned are the conditions:
- Obligations & Responsibilities:
The instruments will be available to the borrower till April 10th, 2012. An amount of $2400 has to be paid by the borrower as the rent amount for the musical instruments, along with a security amount of $5000 which will be refunded back after returning the borrowed instruments in the same state in which it was borrowed.
Hence, both the parties are requested to validate the contract:
Signature of the Owner:
Mr. Rachel Symonds
Singed by the Borrower:
Mr. Peter Lee
Signature of the Witness: