During events and occasions in an organization, there will be specific items which must be borrowed or yet be leased out to cater to the needs of the event organizing personnel. This is when a property acknowledgment form must be used and be completed for each property or item to be borrowed which is owned by other parties. The form will serve as a document that states the intents and the data of the property, as well as the one who is borrowing and will be using the property.

Property Acknowledgment Receipt Form Sample

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What Is a Property Acknowledgment Form?

A property acknowledgment form is for documenting that a property has been handed over to a recipient. This form can be used by companies, institutions, organizations, and property owners. Although the term “property” often refers buildings, establishments, and houses, a property acknowledgment form is not limited to it, rather it can be for instruments, pieces of furniture and equipment which can be leased out and must be surrendered to the owner after the end of the lease period.

Varieties of Property Acknowledgment Forms

Company Property Acknowledgment Receipt Form – This is for employees who want to borrow or use a piece of equipment owned by the company. Specifically, company property acknowledgment receipt forms will document the description of the equipment which will be issued to the requesting employee as well as the approval of the employee’s manager towards the employee’s request. To complete the form, the employee must state his name, the date when he used the form, and his signature, and submit the form to his manager who will also have to affix his signature and name on the form.

Company Property Acknowledgment Receipt Form

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Equipment Property Acknowledgment Receipt Form – While the aforementioned form variety is to be used by companies, this document, on the other hand, is for educational institutions and organizations. The user of the form can either be a student, a teacher, or a faculty staff member who needs to obtain the equipment of the school for a particular event or activity. The layout of the form is composed of a table with rows and columns for the details of the equipment or the property to be borrowed. In the first column of the table, the quantity or the number of properties requested to be borrowed will be specified while the second column will state the equipment’s unit type.

Equipment Property Acknowledgment Receipt Form

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The third column will be for the description of the equipment which is then followed by the amount or the price of the equipment and its property number in the fourth and fifth columns. And lastly, at the last row of the form, the names and the signatures of the receiving party and the approval committee will be indicated to complete the equipment property acknowledgment form.

Property Key Acknowledgment Receipt Form – Organization members who are the trusted key holders for opening and locking the doors of the organization’s office are the users of this form. Basically, a property key acknowledgment receipt form will record who the holder of the keys are. The six sections of the form must be completely filled out by the one who will be holding the keys. The personal details of the key holder such as his name, business name, membership number, and contact number are the focus of the first section. The details of the key, on the other hand, will be disclosed in the second section which must have the purpose of the key issuance, the date when the key must be returned, and the location where the key must be returned or be sent after the permitted period. In addition, the conditions for the issuance of the key, a declaration statement, the return information, and the instructions to be followed by the key holder will be the contents of the succeeding sections of the form.

Property Key Acknowledgment Receipt Form

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Tips in Making Property Acknowledgment Forms

Decide on a document format.

There are three main formats to consider when making forms and documents. One of the most common is “.DOC” format which can be made using a word-processing software application program such as Microsoft Word. This is the easiest and the simplest format to use by any group or individual.

Another format to consider when making property acknowledgment forms is the “.XLS” or the spreadsheet format. This format is suitable for the type of form to be created since rows and columns are essential to be incorporated into the form. With a spreadsheet format, there will be no need to create tables from scratch since a spreadsheet software application program already features tables as its main document sheet. Formulas can also be used and be placed into each cell or row and column to achieve mathematical computations.

Property Acknowledgment Receipt Form in XLS

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General Property Acknowledgment Form

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And lastly, a “.PDF” format or a portable document file format can also be used. However, this format can only be made by converting the aforementioned formats using a converter. Compared to the two formats, a “PDF” format shows the printed output of the document and can be posted, be sent, and be accessed in various types of devices while still retaining its layout, arrangements, and designs.

Focus on the essentials.

Each variety of property acknowledgment form collects four main data which are also essential for the verification and the approval procedure for the intent of the requestor to borrow a property. The first data which is valuable to always be stated in the form is the general information of the requestor which will be used acknowledging the user of the property and the accountable person who will be called whenever there are damages, concerns, and losses identified by the property owner after the property is returned.

The next essential data is the property description which will have the type of property to be borrowed and its quantity. The third essential data is the date when the property is borrowed and when the requestor should be able to return the property. The fourth data will be the comments and the signatures of the approval committee with regards to the borrower’s intent and purpose of using the property.

With the aforementioned varieties and tips, organizations and institutions will be able to determine what type of form they must use and what must be noted when making their own property acknowledgment form from scratch. Nonetheless, after each form is submitted and after each request is fulfilled, the organization must retain the form and keep it until the item or property is returned and until a property inspection is conducted.

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