Original copies of the executed agreements are kept by Property Management. Departments may receive equipment loans from organizations or institutions with their own standard loan agreements. All such loan agreements must be forwarded to the University Contract Officer for review. Departments may only enter these agreements with the written approval of the University Contract Officer. Once approval has been obtained, the property is accounted for on the inventory and the agreement is filed at Property Management.
Some equipment is loaned by an agency or organization for use on a sponsored research project.
Please see Section 9 on federal property for details. Equipment loans may accompany a PI from another university. These agreements must also be documented, and written approval must be obtained from the University Contract Officer. When these agreements are in the form of contract modifications, the original copy is kept in Contract Administration. The OSU Foundation is responsible for OSU gift administration, gift recognition, and IRS tax forms.