offer access to the veterinary records. Remember the examining veterinarian
is relying upon your representations while examining the horse, so
be accurate. Further, you may find your representations are included in a
later insurance certificate, so be accurate to avoid any misadventure in an
insurance coverage dispute later.
The point is, as you go about your role in a purchase or lease transaction,
whether speaking to the other side of the transaction, be it other agents or
principals, or communicating with the prepurchase veterinarian, or communicating
with your own principal, you should keep a documented record of
what is being said, by whom and when. You should also save your texts,
emails, scans, photos and attachments.
3. CONCERNS OF EXAMINING VETERINARIANS.
The scope of this brief survey of concerns is not intended to be a tome
on veterinary ethics. However there are some best practices the examining
veterinarian who might be perusing this note should consider:
• Timely prepare a written prepurchase examination report.
• Note in your written records and written prepurchase examination report
who, exactly, was present at the prepurchase examination.
• Note as well who defined the scope of the examination.
• Find out and note the intended purpose of the purchase or lease.
• Note what was disclosed about the past health and soundness history of
the horse and from whom each of the disclosures was made.
• Obtain the contact information of the principal (the prospective buyer or
lessee) for whom you are actually working and send that principal a copy of
the written prepurchase examination report.
• Do not accept an agent’s word that the agent will send your report to
the principal. Do it yourself or have your office do it and retain a copy of
that transmittal.
• Note in your written records any subsequent conversations you have
with the prospective buyer or lessee should you have occasion to
speak with them.
• Do not let the agent retain you as the agent’s veterinarian for the examination
– you are working for the prospective buyer or lessee and your reports
and billing and report distribution should reflect that agency.
Experience has shown that a large part of equine transaction disputes
concern allegations of non-disclosure of prior health or soundness issues.
When the fingers start pointing, you do not want to be accused of not informing
someone of something. Conversely, to avoid accusation, you should
be able to dive into your records and demonstrate who told you what, or did
not tell you, during the prepurchase examination or prelease examination
process. You should also be able to definitely articulate for whom you were
working at the time of the examination. An ounce of prevention to understand
and record matters at the time of the examination is worth a pound
of cure to try and recreate from memory and intention what happened at a
prepurchase examination or prelease examination in the past.
With those thoughts in mind, the next time a prepurchase or prelease
examination is on the horizon, take a moment to stop and go through your
practices and adjust them so that they become best practices
EE
Serving Two Masters:
The Owners & The Equine Industry
Naples Asset Management LLC
www.NAMCOA.com
Equine Focused Financial Planning & Asset Management
Solving and Creating Financial
Solutions Since 1985
For more information please call
Thomas Cooper, CFP®
Phone: (888) 477 - 5525 Ext 105
Email: tcooper@namcoa.com
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