Tired of people borrowing your things and keeping them or bringing them back in poor condition? Avoid damaging friendships over material goods by making a video contract. It’s a great reminder tool to return items as well.

 

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Step 1: Identify the parties

As a registered user, open the Lexigogo app and push the + button to create a new video contract. Identify both yourself and the other party when starting the video recording, stating your full names and details as well as your roles in the agreement (lessee, lessor, owner, client, etc.).

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Step 2: Describe the item for loan

Show which item you are lending or borrowing, describing its condition at the time of your agreement. Zoom in where necessary to show any special features or damage. Ensure there is enough light on the item for visibility in the video.

 

Step 3: Payment, conditions and terms

Agree on the lending timeframe, return date, where and how the item will be delivered and returned. Note any penalty fees or replacement if the item is damaged upon return and whether a guarantee in cash has to be given.

 

Step 4: Mutual consent and “signature”

Once your draft video contract is ready, send it to the other party for approval. After approved, the video contract will be sent back to you for “counter-signature.” It becomes effective for both parties upon signature.

 

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Note: The app will automatically log your geolocation, date and time so no need to state in your video.