Trial Periods – What’s My Risk?

Trial periods are commonly requested by potential buyers however there is a lot of concern as a Seller with this arrangement. Trial periods can be conducted on the Seller’s property or the Buyer’s property, with both options carrying a degree of risk.

Importance of a Trial Agreement

The best way to ensure you are protected as a Seller is to have a Trial Agreement in place. There are several factors which must be included in a Trial Agreement to ensure you are covered, including:

Trial Duration: Set clear timeframes for the trial.

Specific Terms of the Trial: Define where the horse will stay, what it will eat, etc.

Risk Management: Clarify who is responsible for any injuries or illness during the trial period.

Condition of the Horse: Specify the condition the horse should be in at the end of the trial.

Dispute Resolution: Outline how disputes will be handled.

Managing the Risk of Vet Bills

The number one concern for Sellers is, “What if something happens to the horse when it is on a Trial, do I have to pay the vet bill?” The only way to ensure you are protected from ending up with a significant vet bill is to have both parties sign a legally binding Trial Agreement that details how these scenarios will be handled.

Understanding the Risks of Trial Periods

We understand that horses are unpredictable animals, and also very sensitive creatures who may struggle to settle into a new environment. Similarly, integrating a horse into a new herd will usually cause the horses to attempt to establish a pecking order. The transportation of the horse to an offsite trial can also pose a risk. Vet bills can be seemingly endless in the instance that your horse is hurt and requires veterinary attention. In this scenario, it is important to have a binding Trial Agreement in place that stipulates who is responsible for the vet care.

As a Buyer, the benefits of a trial period are endless. It can assist you in determining whether the horse is suitable for your needs, and how the horse will cope in its potential new home. To protect your interests, and also to give the Seller peace of mind, approaching them with a Trial Agreement that protects both parties can make a world of difference.

Get in touch today to learn more about Trial Agreements and how we can protect you through this process.