How Do I . . . Process Loans and Leases/Rentals

Step 2a: Document Loans INTRO 1 2a 2b 3 4 NEXT

What to do How to do it

Equipment Loans

A. Complete the Add Asset document. Complete an Add Asset (AA) document, as all equipment items are required to be tracked in CAMS.

You will be required to enter an Acquisition Type loan code on your AA to identify the lending source:

37 - Loans from another UC campus.

39 - Loans from the federal government/federal agencies.

38 - Loans from agencies other than UC or government/federal agencies. (This is the code to use for loans from vendors).

B. Fill out the Equipment Loan Agreement. Most property, regardless of value, loaned from agencies other than UC or government/federal agencies must be documented on an Equipment Loan Agreement (ELA) form. This form is used to document loans to the university from outside agencies or individuals.
The first page contains information on the equipment, lender, and borrower; the second page includes the Standard Terms of Equipment Loan which may only be modified by Business Contracts (see Step 4 for instructions on what to do if the vendor wants to modify the Standard Terms of Equipment Loan.)
Individual departments are the Office of Record for the ELA, and the entire form should be kept on file in your departmental business office for 3 years following loan termination/expiration.
Note: Property loans documented on an Equipment Loan Agreement are covered by the University's Property Insurance Program . Review this program for exceptions to covered property, requiring another form of agreement, as well as non-covered perils. University insurance will be ineffective where ELAs have not been processed or have been allowed to expire while property is still in the university's care and custody. To purchase Additional Theft Insurance on long-term ELAs, submit a copy of the signed ELA to Risk Management Services with the insurance request.

All fields on the Equipment Loan Agreement form should be completed, including complete lender and borrower contact information.
Indicate an Agreement Number. Develop a departmental system for assigning agreement numbers that will be distinguishable and include a tickler system for tracking their status. Two possible assignment options:

Use a prefix number of the departmental DaFIS organization code followed by the sequential number for the agreement (i.e.: #ACCT-01)
Use a department custodial code number followed by the sequential number for the agreement (i.e.: #0411-05).

All Equipment Loan Agreements must have specific start and end dates. If the loan is expected to be long term, it is recommended that an end date of 2 years is indicated on the form.
For items that do not require an Add Asset document, a serial # for each item must be indicated on the ELA.
Obtain required signatures from lender and department head. The department head is the Signature of Authority on behalf of the university and should sign the ELA after the lender has signed. The department head approval shall not be delegated to another employee.
Provide copy of completed and signed ELA to lender and copies to Accounts Payable and Equipment Management. Keep original in department file.
For loans reported with Acquisition Type 39 or 37, a hard copy of the loan document from the other UC or the Federal government should be submitted to Equipment Management; be sure to include the DaFIS document number of the AA document.

Non-Equipment Loans

A. Fill out the Equipment Loan Agreement. All property, regardless of value, loaned from agencies other than UC or government/federal agencies must be documented on an Equipment Loan Agreement (ELA) form. Refer to the information above on completing this form.

B. Optional Non-Equipment Tracking You may add non-equipment using the Add Asset (AA) document. Enter 44 in the Acquisition Type code field.

Step 2a: Document Loans INTRO 1 2a 2b 3 4 NEXT
	What to do	How to do it
Equipment Loans
A.	Complete the Add Asset document.	Complete an Add Asset (AA) document, as all equipment items are required to be tracked in CAMS. You will be required to enter an Acquisition Type loan code on your AA to identify the lending source: 37 - Loans from another UC campus. 39 - Loans from the federal government/federal agencies. 38 - Loans from agencies other than UC or government/federal agencies. (This is the code to use for loans from vendors).
B.	Fill out the Equipment Loan Agreement.	Most property, regardless of value, loaned from agencies other than UC or government/federal agencies must be documented on an Equipment Loan Agreement (ELA) form. This form is used to document loans to the university from outside agencies or individuals. The first page contains information on the equipment, lender, and borrower; the second page includes the Standard Terms of Equipment Loan which may only be modified by Business Contracts (see Step 4 for instructions on what to do if the vendor wants to modify the Standard Terms of Equipment Loan.) Individual departments are the Office of Record for the ELA, and the entire form should be kept on file in your departmental business office for 3 years following loan termination/expiration. Note: Property loans documented on an Equipment Loan Agreement are covered by the University's Property Insurance Program . Review this program for exceptions to covered property, requiring another form of agreement, as well as non-covered perils. University insurance will be ineffective where ELAs have not been processed or have been allowed to expire while property is still in the university's care and custody. To purchase Additional Theft Insurance on long-term ELAs, submit a copy of the signed ELA to Risk Management Services with the insurance request. All fields on the Equipment Loan Agreement form should be completed, including complete lender and borrower contact information. Indicate an Agreement Number. Develop a departmental system for assigning agreement numbers that will be distinguishable and include a tickler system for tracking their status. Two possible assignment options: Use a prefix number of the departmental DaFIS organization code followed by the sequential number for the agreement (i.e.: #ACCT-01) Use a department custodial code number followed by the sequential number for the agreement (i.e.: #0411-05). All Equipment Loan Agreements must have specific start and end dates. If the loan is expected to be long term, it is recommended that an end date of 2 years is indicated on the form. For items that do not require an Add Asset document, a serial # for each item must be indicated on the ELA. Obtain required signatures from lender and department head. The department head is the Signature of Authority on behalf of the university and should sign the ELA after the lender has signed. The department head approval shall not be delegated to another employee. Provide copy of completed and signed ELA to lender and copies to Accounts Payable and Equipment Management. Keep original in department file. For loans reported with Acquisition Type 39 or 37, a hard copy of the loan document from the other UC or the Federal government should be submitted to Equipment Management; be sure to include the DaFIS document number of the AA document.
Non-Equipment Loans
A.	Fill out the Equipment Loan Agreement.	All property, regardless of value, loaned from agencies other than UC or government/federal agencies must be documented on an Equipment Loan Agreement (ELA) form. Refer to the information above on completing this form.
B.	Optional Non-Equipment Tracking	You may add non-equipment using the Add Asset (AA) document. Enter 44 in the Acquisition Type code field.

Next - Notify Accounts Payable

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