Ex6B: OSU Equipment Loan Agreement

Property Management Policy & Procedure Manual
Section 000: Introductory Material
Effective: 07/01/1975
Revised: 05/22/2007

Occasionally OSU property may be loaned to other universities or research institutions in support of cooperative research or some other cooperative activity.  Departments should contact the Property Manager (541-737-7350) for assistance in evaluating equipment to determine whether it qualifies for such a loan.  Any equipment qualified for loan should be recorded on this form.

Page 1:

NAME/ADDRESS (top of page): Type the name and complete mailing address of the institution borrowing the equipment.

Equipment Loan Agreement form with sample data (page 1)

Image - Equipment Loan Agreement form with sample data (page 1)

Page 2:

To Be Completed by Borrower:

  • Institution: Enter name of Institution
  • Address: Enter complete mailing address of institution.
  • Telephone/Fax: Enter the telephone and fax number for the contact person at the institution. (This should be a person in the Contracts or Property Management Office of the other institution.)
  • Email: Enter email address for the contact person at the institution.
  • Printed Name/Title: Enter the name and title of the primary contact at the institution.
  • Signature: Signature of the primary contact at the other institution.
  • Signature (PI/Borrower): Signature of the person who will be physically responsible for the equipment while on loan.

To Be Completed By OSU:

  • Department: Enter name of department responsible for the equipment.
  • Address: Enter the location for the department (building/room number for on-campus department or mailing address for off-campus department).
  • Telephone/Fax: Enter the telephone and fax numbers for the primary contact person in the department.
  • Departmental Contact: Enter name of the person coordinating the loan.
  • Signature (Dean, Director): Signature of Dean or Director authorizing the loan.
  • Signature (V.P. for Research): The Vice President for Research must sign off if equipment valued in excess of $25,000 is loaned to another institution.
  • Signature (Property Management): Signature of Property Management staff approving the loan.

List of Equipment on Loan:

  • Description: Enter a complete description of the item or items to be loaned.
  • Inventory#: Enter the inventory number of any capital asset to be loaned.  (If non-capital, note “none”.)
  • Fund: Enter the fund code from the funding source page of the Fixed Asset Record, if applicable.
  • Purch MO/YR: Enter the month and year the asset was originally acquired.
  • Purch $ Amount: Enter the original acquisition cost of the equipment.
  • Title-To: Enter the title code from the asset record.
  • Equipment Condition: Enter the code from the asset record, or note the current condition of the asset.

Statement of cooperative activity: Enter a brief explanation of the cooperative activity and how it will benefit OSU.

Date equipment will be removed: Enter the date the equipment will leave OSU.

Date equipment will be returned: Enter the date the equipment will be returned. This date should not exceed two years, although renewals are possible with the approval of all parties.

Equipment Loan Agreement form with sample data (page 2)

Image - Equipment Loan Agreement form with sample data (page 2)