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.
Title: North Carolina Agreement to Loan Automobile to University Athletic Department for Promotional Purposes Introduction: The North Carolina Agreement to Loan Automobile to University Athletic Department for Promotional Purposes allows universities and their athletic departments to borrow automobiles for promotional events, recruitment activities, and other related purposes. This agreement ensures a clear understanding between the university and the lending party regarding the terms and conditions of the loan. North Carolina offers various types of agreements tailored to specific requirements, including: 1. Agreement to Loan Automobile for Marketing Events: This type of agreement specifically addresses marketing events organized by the university's athletic department. It outlines the responsibilities of both parties regarding the loaned vehicle and promotional activities. 2. Agreement to Loan Automobile for Recruitment Activities: This agreement focuses on lending automobiles to the university's athletic department for recruitment purposes, such as visiting potential student-athletes or attending college fairs. It details the obligations of both parties to ensure the vehicle's safe use and timely return. 3. Agreement to Loan Automobile for Public Relations Initiatives: This type of agreement revolves around using loaned vehicles for public relations purposes. It outlines the conditions under which the university's athletic department can utilize the vehicle to enhance their public image through media appearances, community engagement, and public events. Key Components of the North Carolina Agreement to Loan Automobile: 1. Identification of Parties: Clearly states the names and contact details of the university and lending party involved in the agreement. 2. Purpose of Loan: Specifies the intended purposes for which the university's athletic department will use the loaned automobile, such as marketing events, recruitment activities, or public relations initiatives. 3. Duration of Loan: Defines the loan duration, including the specific start and end dates, to establish a clear timeframe for the borrowing period. 4. Vehicle Specifications: Specifies the make, model, year, color, and other identifying details of the automobile being loaned, ensuring clarity regarding the specific vehicle involved. 5. Responsibilities: Outlines the responsibilities and obligations of both parties, including maintenance, insurance coverage, fuel, cleaning, and any other relevant costs incurred during the loan period. 6. Loan Conditions: Defines any limitations on the use of the vehicle, such as mileage restrictions, geographical boundaries, or restrictions on carrying passengers. 7. Indemnification and Liability: Addresses liability and insurance coverage, ensuring the university's athletic department assumes responsibility for any damages caused by negligence or misuse during the loan period. 8. Termination: Specifies the conditions under which either party may terminate the agreement before its scheduled end date and outlines the associated obligations upon termination. Conclusion: The North Carolina Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a crucial document that provides a framework for lending vehicles to universities' athletic departments. By specifying the key components mentioned above, this agreement ensures a smooth loan process, promotes responsible vehicle use, and protects the interests of all parties involved.
