No form on hand.

I recommend a simple letter agreement, signed by someone at the U who has
contracting authority.  Matters to consider:  Will the U. cover it under
its insurance (common for loan); who is responsible for upkeep?  (the U?)
Who is responsible for shipping it which direction?  Complete list of
serial numbers, all accessories.   Etc. (common sense items)

I'm guessing that he's loaning it until he's used all the depreciation --
but could probably get the same tax write off, and maybe all in one year,
by making the gift.
Chuck

At 03:09 PM 4/19/99 -0500, you wrote:
>Good afternoon!
>
>One of our faculty members called to ask me if I have or could craft an
>agreement under which one of the University's benefactors "lends" a large,
>expensive piece of equipment--a 4-station hipware (sp?) simulator--to the
>University, specifically the researcher's lab.  The loan would last for at
>least two years.  (The benefactor was going to gift this equipment to the
>University, but for some reason decided to "loan" it instead.  He may end up
>gifting it, but the status is a loan at this point.)
>
>Before I agonize too much over how this situation can be turned into an
>agreement, has anyone else ever had a similar arrangement for which an
>agreement was drafted?  If so, would you be willing to share it with me?
>
>Thanks in advance for any help...
>
>Patty Hagen
>Director, Research Services
>Saint Louis University
>314-977-2241 office
>314-977-3943 fax
>
>
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