Loans Out Requirements

Definition

Documenting and managing the loan of objects to other organizations or individuals for a specific period of time and for a specific purpose, normally exhibition/display, but including research, conservation, photography and education.

Requirements

Ensure that all loan requests are assessed according to the organization's policy;
Ensure that there are written agreements signed by both borrower and lender before the loan commences;
Ensure that the loan is for a finite period;
Ensure that the organization retains a record of all loans, including details of the borrower, the venues, the loan period and the purpose of the loan;
Enable effective control of the loan process;
Ensure that the borrower confirms their intent and ability to provide an acceptable level of care, security and safekeeping for the object and to conform to the conditions of loan specified;
Ensure that the loaned objects are covered by insurance or indemnity as appropriate for the duration of the loan period.