The Loan for Use Agreement (Commodatum) is essential in situations where parties wish to formalize the temporary, gratuitous transfer of an item's use rights under Swiss law. This document type is commonly used in both business and personal contexts, from lending equipment between companies to sharing research instruments between institutions. It's particularly relevant when valuable or specialized items are involved, requiring clear documentation of the loan terms, usage conditions, and return requirements. The agreement draws its legal framework from the Swiss Code of Obligations and Swiss Civil Code, providing specific protections for both lender and borrower while ensuring compliance with Swiss legal requirements regarding gratuitous loans.
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Key Requirements PROMPT example:
Loan For Use Agreement
"Need a Swiss Loan for Use Agreement for lending specialized manufacturing equipment (CNC machine) from our Zurich facility to a partner company in Basel for a 6-month period starting January 2025, with specific maintenance requirements and operator training provisions."
1. Parties: Identification and details of the lender and borrower
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Loan: Detailed description of the item(s) being loaned
5. Term of Loan: Duration of the loan, including start date and end date or conditions
6. Delivery and Return: Terms regarding the transfer of possession, condition assessment, and return procedures
7. Permitted Use: Specific conditions and limitations on how the borrowed item may be used
8. Care and Maintenance: Borrower's obligations regarding maintenance and preservation of the loaned item
9. Costs and Expenses: Allocation of costs related to maintenance, repair, and use of the item
10. Risk and Liability: Assignment of risk and responsibility for damage or loss
11. Termination: Conditions and procedures for early termination of the agreement
12. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
13. Signatures: Execution blocks for all parties
1. Insurance: Requirements for insurance coverage of the loaned item, used when the item has significant value
2. Sub-Lending: Provisions regarding the prohibition or permission of lending to third parties, used when relevant to the nature of the item
3. Intellectual Property: Protection of any IP rights associated with the loaned item, used for items with IP components
4. Security Deposit: Terms for any security deposit required, used for valuable items
5. Reporting Requirements: Obligations to report on item condition or usage, used for items requiring monitoring
6. Emergency Procedures: Special procedures for emergencies or unexpected events, used for sensitive or valuable items
7. Modifications: Terms regarding permitted or prohibited modifications to the item, used for technical equipment or machinery
1. Schedule 1 - Item Description: Detailed technical specifications, photographs, or descriptions of the loaned item(s)
2. Schedule 2 - Condition Report: Detailed assessment of the item's condition at the time of lending
3. Schedule 3 - Usage Instructions: Specific instructions for proper use and maintenance of the item
4. Schedule 4 - Return Checklist: Checklist of conditions that must be met upon return of the item
5. Appendix A - Insurance Certificates: Copies of required insurance documentation
6. Appendix B - Maintenance Records: Template or format for recording maintenance activities
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