One of our faculty wishes to borrow an item of government-owned equipment
from one of the national labs. The equipment is valued at $55,000. Included in
the U. S. Department of Energy's "Personal Property Loan Agreement" form is a
clause that we agree to reimburse the Lender in case of loss or damage.

Has anyone dealt with this kind of agreement before? If so, do you purchase
some sort of loss/damage ijsurance on the equipment before you accept it?
As a state-assisted institution, we are considered "self-insured"; however, we
do purchase insurance for our locally-funded operations (housing/dining, etc.)

Barry Tate, Director
Contract and Grant Administration
Sam Houston State University
xxxxxx@SHSU.EDU