Party 1 Full name of the establishment: Commercial registration number: Tax number: Address of the main headquarters: Name of the signing legal representative: Title of the representative (Manager/Authorized Delegate): Phone: Email: | Party 2 Full name of the establishment: Commercial registration number: Tax number: Address of the main headquarters: Name of the signing legal representative: Title of the representative (Manager/Authorized Delegate): Phone: Email: |
This contract is made between the two parties whose complete details are set out in the attached contracting form, hereinafter referred to as "the First Party" (the Lender) and "the Second Party" (the Borrower), collectively referred to as "the Parties". In accordance with the provisions of the Egyptian Civil Law No. 131 of 1948 (Articles 604-615 concerning the loan agreement), Commercial Law No. 17 of 1999, Intellectual Property Rights Protection Law No. 82 of 2002, Personal Data Protection Law No. 151 of 2020, and the laws and regulations in force in the Arab Republic of Egypt, this agreement aims to organize the process of lending tangible or intangible assets (including equipment, machinery, devices, real estate, software, intellectual property rights, or any other assets) between the First Party (the Lender) and the Second Party (the Borrower), whereby the Lender undertakes to deliver the asset to the Borrower for temporary use, while retaining ownership of the asset, in exchange for the Borrower's obligations to maintain the asset, use it for the specified purpose, and return it in its original condition upon the expiration of the loan period. This is in accordance with the provisions of the Egyptian Civil Law that regulate the loan agreement and render it a binding contract for both parties, ensuring the protection of each party's rights, and regulating aspects of liability and guarantees in the event of breach of obligations. The parties have agreed as follows:
Article (1) Definitions of the Contract
1- The following words and phrases - wherever they appear in this contract - shall have the meanings assigned to each of them, unless the context requires a different meaning:
2- Contract: refers to this asset lending agreement in its entirety, including all its terms and attachments, and its introduction constitutes an integral part thereof.
3- Lender: the first party to this contract, who is the owner of the asset or legally authorized to lend it, and who delivers the asset to the borrower for temporary use.
4- Borrower: the second party to this contract, being the natural or legal person who receives the asset from the lender for temporary use, and commits to maintaining it and returning it at the end of the lending period.
5- Asset(s): the movable property, real estate, software, intellectual property rights, or any other assets lent under this contract, as specified in Article (2) of this contract.
6- Lending Period: the time period during which the borrower is entitled to use the asset, as specified in Article (3) of this contract.
7- Purpose of Lending: the objective or specific use for which the asset is lent, as specified in Article (2) of this contract.
8- Condition of the Asset: the technical and physical description of the asset at the time it is delivered to the borrower, including any existing defects or damages, as specified in the attached delivery report to this contract.
9- Routine Maintenance: the necessary actions to keep the asset in good condition, including cleaning, lubrication, calibration, minor repairs, and any other preventive maintenance work.
10- Major Repairs: significant repairs that exceed routine maintenance, which may be necessary due to a malfunction or severe damage to the asset.
11- Modifications: any changes, additions, or improvements made to the asset by the borrower.
12- Related Parties: including subsidiaries, parent companies, sister companies, as well as directors, employees, contractors, consultants, agents, and representatives.
Article (2) Subject of the Contract and Loaned Assets
1- First: Description of the Assets:
2- The first party (the lender) lends the second party (the borrower) the following assets, which are described as follows:
3- | Number | Asset Name | Technical Specifications | Quantity | Condition at Delivery |
4- |---|---|---|---|---|
5- | 1 | | | | |
6- | 2 | | | | |
7- | 3 | | | | |
8- The assets shall be delivered to the borrower by means of a delivery report signed by both parties, which includes a detailed description of the assets and their condition, as well as any existing defects or damages, and the date of delivery.
9- The delivery report is considered an integral part of this contract and serves as a reference for determining the condition of the assets upon delivery and upon return.
10- Second: Purpose of the Loan:
11- The asset is loaned to the borrower for the following specific purpose only, and it may not be used for any other purpose:
12-
13- The borrower is obligated to use the asset exclusively for the aforementioned purpose, and may not use it for any other purpose without prior written consent from the lender.
14- In the event that the borrower violates this obligation, the lender has the right to terminate this contract immediately without any notice and to claim compensation for all damages resulting therefrom.
Article (3) Duration of the Loan
1- First: The basic duration of the loan:
2- The loan is granted for a duration of , starting from the date , and ending on .