Equipment Loan

The Equipment Loan/Return document (ELR) is required when the capital equipment:

is borrowed for more than 31 days, and

is under the control of a single faculty or staff personnel, and

resides at a location not directly associated with the university or institution.

The equipment may be lent for a period of two years or less. If the equipment is not returned at the end of two years, a Renew document must be processed to extend the loan.

Equipment located at an off-campus site does not require completion of an Equipment Loan/Return document. 'Off-campus' refers to any school or institution location associated with the University (for example, equipment located at a local hospital). The off-campus address is entered on the Asset Edit document.

Non-capital assets do not require submission of an Equipment Loan/Return document, but the document has been developed to allow processing for non-capital assets.

To record a loan, the user chooses the loan link from the Actions column of the Asset Lookup or Asset Payment Lookup results table. The system displays the Equipment Loan/Return document.

Note: This section covers equipment loan only. For information about renewing a loan, see Equipment Loan Renewal. For information about returning loaned equipment, see Equipment Return.

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Document Layout

Process Overview