Equipment Loan Agreements (ELA) are agreements that establish the terms and conditions upon which a physical transfer of tangible research equipment from one entity to another can occur. The tangible equipment is either transferred by BU to outside parties or received by BU from outside parties for the purpose of testing, evaluation, research and/or instructional purposes.
Why are ELAs important?
ELAs provide a clear understanding of the purpose of the tangible equipment transfer and the roles and responsibilities of all parties associated with the equipment loan. An ELA may also provide important protections against liability for the receiving party with respect to the tangible research equipment.
What do ELAs do?
ELAs address both the manner and the scope in the following areas:
The purpose associated with the transfer of the tangible equipment
Permitted use of the tangible research equipment
Which party is responsible for any associated costs of the transfer to and from the parties as well as any maintenance related costs
Whether the transferring party will provide training, if necessary
The obligations of the receiving party of the tangible equipment
Any Export Control or ITAR implications
Examples
These are some tangible equipment often transferred under an ELA:
Centrifuge
Microscope
Projector
Network Server
Printer
Freezer
As with other agreements with outside parties, an authorized institutional signature is required.
Incoming Equipment Loan Agreements
Initiating an Incoming Equipment Loan Agreement
Incoming ELAs govern the transfer of tangible equipment from an outside organization into BU for certain purposes which can include testing, evaluation, or instruction.
Please Note: As a general matter, tangible equipment transferred under an ELA should not be used in human subjects. If the tangible equipment is intended to be used in human subjects, please follow the procedures described for clinical trial agreements (CTAs) including but not limited to consulting the BU Institutional Review Board (IRB).
Your completed form is assigned to an industry contracting team member
The industry contracting team member will confirm receipt and review the form and initiate the ELA process
Please contact industry@bu.edu if you do not receive a confirmation within 5 business days of submitting your incoming ELA Form
Other documents/information that may be required include:
The industry contracting team will notify BU Property Management if the tangible equipment meets the following criteria:
Moveable Capital Equipment is defined as any article of non-expendable tangible property (e.g., automobile, centrifuge, microscope, projector, network server, printer, freezer, etc.) that meets the following capitalization criteria:
The loaned item has a useful life of one year or greater.
The cost of the item is $5,000 or greater, including delivery and installation costs, and including the cost of attachments required to operate the item when those attachments are acquired as part of the original equipment purchase.
Boston University is the custodian of or is held responsible to account for the item.
These guidelines apply to all such equipment at the University whether it is purchased, fabricated, leased, loaned, gifted or donated.
There are many reasons for recording equipment on campus in the Property database but the two most important are accountability for the equipment ( we collect equipment data, an image, store acquisition information, and inventory the equipment biennially) and insurance coverage. Risk Management uses the Property data to determine appropriate insurance coverage.
Outgoing Equipment Loan Agreements
Please reach out to Technology Development (OTD): otdforms@bu.edu