Help - please !!!!

[cowcrazy]

A friend of mine wants to borrow my bull for a few months to breed his cows. I do not need him right now, and quite honestly, would like to get him off the feed bill for a couple months. What I would like to know is how other people handle it when they allow someone to use their bull. He is not a high priced bull, but is a registered shorthorn. My thought is to place a fair value on him in the event that something happens to him while at the friends place, and he does not come back, they would owe me that amount. Is this the way everyone else does it, or does anyone have any other ideas?  I value the friendship, but know that "stuff" happens. I certainly do not want any hard feelings, so I think it is best to have an agreement in advance. Ideas????

 

[cowman 52]

Figure salvage value and how much it would take to replace him-- if something happens that iswhat he owe's you and also he needs to come home within so much weight of what he left -- no need to have to feed him 6 months to get him to useing condition

 

[savaged]

Sounds like you have reason to at least be somewhat concerned about your bull.

Easiest thing to do is to add the bull to an insurance policy (yours or his), at least for the time period he has him.  You probably just need accidental death coverage, which will cover any foreseeable calamity that would kill or irreparably injure the bull.   It is very affordable (I just added coverage for a heifer @ $7,000 for about $30.00 per year), and should ease your mind a bit.  If you are worried about the conditions and general health of the bull, now that's another story.  If you are,  then don't do it.

 

[cowcrazy]

I do not have insurance on any of my livestock, so my question is where do you purchase this insurance from?  The name of the company, or can you add it to your farm policy? Thanks for the suggestion!

 

[savaged]

The cows I want more than just market price coverage on are insured as scheduled property on my Nationwide farm policy.  I provide the cow, I.D./registration number, and coverage amount.  I also have a small deductible on this coverage ($250.00 I think).  I would think that any company that insures farms would offer similar coverage.  They generally will want papers to schedule them, but I think you said your bull was registered.

 

[cowcrazy]

Thanks savaged!  I will check with Farm Bureau Insurance to see if they can add him on my coverage.  (clapping)

 

[twistedhshowstock]

Regardless I think it is best to have a contract/agreement of some sort going into this.  The quickest way to end a friendship is to go into a situation like this where you are allowing someone to borrow something, or into a partnership and not have a written agreement detailing everything. That way both parties know what is expected and at the end there cant be any hard feelings because everyone knew up front how it was going to work.  I would say the biggest things in there should be a salvage value if something were to happen. That salvage value should be equal to the amount it would cost to replace the bull with a bull of the same quality if something should happen to him and he were no longer suitable for breeding.  You should also have something in there about the condition you expect the bull to return in, how you expect him to be fed, etc.  Also it should state who is responsible for the care, feed bills, and any vet bills incurred while bull is there.  You would be surprised how many people "borrow" animals in this situation then either expect you to cover the costs or later on want to hold it over your head or say you owe them because they paid his feed bill for so many months, etc.
The insurance thing is a good idea, possible concerns there, if you add him to your farm policy, it may not cover if he is not on your property and not under your care. Also you may need more than just accidental death, if you are going to go the insurance route, you also need to have something in place to protect you in the event he is no longer suitable for breeding, there are many things that could happen and result in him not being able to breed cows, but wouldnt necessarily kill him. Some farm insurance companies understand that and if you put him down in that situation my honor an accidental death policy, but many are only going to honor it if the actual accident is what kills him.
But even with insurance I think you need to sign an agreement, not because you doubt your friend, but to preserve the friendship, that way everybody knows up front what is expected.

 

[cowcrazy]

Very well said, twistedhshowstock.  I agree with all of your points! More than anything, if everyone knows where they stand, there is less of a chance to ruin a good friendship. I am a firm believer in "getting it in writing". 

 

[JTM]

Somewhere around $150 to $250 per month depending on how many cows he will be put with. Make sure the place has good fences and is mostly clean. Make sure the friend will call you immediately and let you know if the bull gets sick, foot rot, injured, etc. I think talking about all of this up front is a very good idea and writing it down would be even better.

 

[flacowman]

What about diseases?  There's a definite chance he could bring home something that will cause mass abortions or other problems, the neighbor's vaccination program should also be scrutinized

 

[cowcrazy]

My bull has been vaccinated, but I guess he could still pick something up from the cows??