Loan Duration:

• The tool loan begins on the date of issuance and ends on the agreed-upon return date.
• Extensions require prior approval and may be subject to additional terms.

Loan Agreement:

• The borrower agrees to return the tool in the same condition it was received, excluding normal wear and tear.

Responsibility for Damages:

• The borrower is responsible for any damages to the tool during the loan period.
• Damages must be reported immediately, and repair or replacement costs may apply.

Security Deposit:

• A refundable security deposit may be required before tool issuance.
• The deposit will be returned upon satisfactory return of the tool.

Tool Use Guidelines:

• The borrower must use the tool in accordance with its intended purpose and manufacturer's instructions.
• Any misuse leading to damages is the borrower's responsibility.

Liability:

• The borrower assumes liability for injuries or damages resulting from the tool's use during the loan period.
• The lender is not responsible for any consequences of tool misuse.

Insurance:

• The borrower may be encouraged to have their insurance coverage for tools on loan.
• The lender is not responsible for insuring the borrowed tool.

Notification of Issues:

• The borrower must promptly notify the lender of any issues or concerns related to the borrowed tool.

Return Conditions:

• The tool must be returned on or before the agreed-upon date and in the same condition it was provided.
• Late returns may incur charges.

Ownership and Title:

• The tool remains the property of the lender throughout the loan period.
• The borrower has no right to transfer, sublet, or otherwise dispose of the tool without explicit consent.

Cancellation:

• Cancellations or changes to the loan agreement must be communicated in advance and agreed upon by both parties.

Miscellaneous:

• This agreement constitutes the entire understanding between the parties.
• Any modifications must be in writing and agreed upon by both parties.