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.
Rhode Island Agreement to Loan Automobile to University Athletic Department for Promotional Purposes is a legal document that facilitates the loan of an automobile to a university's athletic department for promotional or marketing purposes. This agreement outlines the terms and conditions of the loan, ensuring that both parties involved understand their responsibilities and obligations. The primary purpose of this agreement is to allow the university athletic department to temporarily utilize a vehicle for promotional activities, such as parades, fundraisers, or community events. This arrangement aims to enhance the visibility of the university's athletic program and foster positive brand awareness within the community. The Rhode Island Agreement to Loan Automobile to University Athletic Department for Promotional Purposes typically includes the following key elements: 1. Parties Involved: The agreement identifies the lending party, usually an individual or a business entity, and the borrowing party, which is the university's athletic department. It includes their respective names, addresses, and contact details. 2. Description of Automobile: The agreement provides a detailed description of the vehicle being loaned, including its make, model, year, VIN number, license plate number, and any distinctive features or branding associated with it. 3. Duration of Loan: This section specifies the duration for which the vehicle will be loaned, including the start and end dates. Any provisions regarding extension or termination of the agreement may also be included. 4. Purpose of Use: The agreement clarifies that the vehicle shall only be used for promotional purposes related to the university's athletic department. It may specify the types of events or activities for which the vehicle can be used, ensuring that it aligns with the intended purpose. 5. Responsibility for Maintenance and Insurance: This section outlines the responsibilities of both parties in terms of maintaining the vehicle's condition and insuring it against any damages or accidents that may occur during the loan period. It may also address the costs incurred for insurance coverage and maintenance. 6. Liability and Indemnification: This clause safeguards both parties from any liabilities arising from accidents, damages, or injuries during the loan period. It may include provisions for indemnification, where the borrowing party agrees to compensate the lending party for any losses incurred due to the use of the vehicle. 7. Return Condition: The agreement outlines the expectations for returning the vehicle, including the condition in which it should be returned. It may specify any cleaning or repair requirements and address the consequences of non-compliance. It is important to note that there may be variations or additional clauses in different types of Rhode Island Agreements to Loan Automobile to University Athletic Department for Promotional Purposes, depending on the specific requirements and terms negotiated between the parties. Therefore, it is advisable to consult legal professionals or refer to specific templates provided by legal service providers for more precise and customized agreements.
