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Loan for Use Agreement
A loan for use agreement is a contract whereby one party grants the other the gratuitous use of a thing, subject to the obligation to return it upon termination.
A loan for use agreement, also known as a loan for use, is a contract governed by Article 7:1777 of the Dutch Civil Code whereby the lender grants the borrower the right to use a movable or immovable asset free of charge. The borrower is required to return the asset in the same condition upon expiry of the agreement.
This provision applies where assets are made available temporarily and gratuitously, for instance to family members or friends. Unlike a lease, no consideration is payable.
In practice, it is advisable to record the duration, the permitted use and any liability provisions in writing in order to avoid disputes.
“The neighbours entered into a gratuitous loan agreement for the temporary use of the trailer.”
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