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.
Delaware Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legally binding document that outlines the terms and conditions under which an automobile is loaned to the athletic department of a university for promotional activities. This agreement allows the department to utilize the automobile for various purposes such as showcasing it during events, parades, or charity functions, ultimately helping to increase the university's visibility and support for its athletic programs. The Delaware Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically includes several key elements: 1. Parties Involved: The agreement clearly identifies the parties entering into the agreement, which includes the university and the owner of the automobile. It is important to specify the exact legal names and addresses of each party involved. 2. Vehicle Description: A detailed description of the automobile being loaned is provided within the agreement. This includes the make, model, year, identification number, and any distinguishing features or accessories that may be relevant. 3. Loan Period: The agreement stipulates the duration for which the automobile will be loaned to the athletic department. This can vary depending on the specific needs of the department, ranging from weeks to months or even an entire academic year. 4. Usage Restrictions: The agreement outlines the approved uses of the automobile during the loan period. It may specify limitations on mileage, the requirement for regular maintenance and servicing, and compliance with all applicable laws, insurance coverage, and registration requirements. 5. Liability and Insurance: The agreement addresses liability concerns and insurance coverage. It typically specifies that the university accepts responsibility for any damages or accidents that occur while the vehicle is being used for authorized purposes. The agreement may require the department to maintain comprehensive insurance coverage for the vehicle throughout the loan period. 6. Return Condition: The agreement sets expectations for the condition in which the automobile should be returned at the end of the loan period. The department is usually responsible for returning the vehicle in the same condition as when it was loaned, barring any reasonable wear and tear. 7. Indemnification: This clause safeguards both parties from any potential legal action arising from the use of the automobile during the loan period. It establishes that the department shall indemnify and hold harmless the owner from any claims, damages, liabilities, or expenses incurred. It is important to note that while the content discussed above mainly applies to the general Delaware Agreement to Loan Automobile to University Athletic Department for Promotional Purposes, variations of the agreement may exist depending on specific requirements or unique circumstances of the parties involved. Therefore, it is advisable to consult with legal professionals to ensure accurate customization of the agreement according to individual needs.
