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.
The Nebraska Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legal document that outlines the terms and conditions for lending automobiles to a university's athletic department for promotional activities. This agreement serves as a formal understanding between the lending party, usually a dealership or individual, and the athletic department of a university. The primary purpose of this agreement is to facilitate promotional activities carried out by the university's athletic department. These activities may include promotional events, fundraising drives, parades, or even transporting student-athletes and coaching staff to various events. By loaning automobiles, the university can effectively market its athletic programs and engage with the community. The Nebraska Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically includes the following key components: 1. Parties Involved: This section identifies the lending party or dealership and the university's athletic department. It includes their legal names, addresses, and contact information. 2. Vehicle Details: The agreement contains a comprehensive description of the automobile being loaned, including its make, model, year of manufacture, Vehicle Identification Number (VIN), and license plate number. Any specific features or modifications are also mentioned. 3. Loan Period: This section specifies the duration of the loan, which can vary depending on the needs of the athletic department. It may range from a few days to several months. 4. Terms and Conditions: This segment outlines the obligations and responsibilities of both parties. It includes details such as insurance requirements, maintenance responsibilities, and mileage limitations. Additionally, it highlights any restrictions on the use of the vehicle, ensuring that it is solely used for promotional purposes. 5. Indemnification and Liability: This section clarifies the liability of both parties in case of accidents, damages, or any other incidents that may occur during the loan period. It indicates who should bear the costs and consequences in such situations. 6. Termination or Extension: This part elucidates the procedures for terminating the agreement before the agreed loan period ends or extending it if necessary. It may include notice requirements and conditions for early termination or renewal. Variations of the Nebraska Agreement to Loan Automobile to University Athletic Department for Promotional Purposes may include specialized agreements for certain types of vehicles. For instance, there may be separate agreements for loaning sedans, SUVs, vans, or even specific branded vehicles for promotional campaigns. These specialized agreements would include any additional stipulations or unique provisions pertinent to the particular type of vehicle being loaned. In conclusion, the Nebraska Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a crucial document that enables universities to enhance their athletic department's visibility and engagement with the community. By providing specific details regarding the loaned vehicle and outlining the rights and responsibilities of both parties, this agreement ensures a clear understanding and a mutually beneficial collaboration.
