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1. Parties: Identifies and defines the bailor and bailee with their full legal names and addresses
2. Background: Explains the context and purpose of the bailment arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Description of Property: Detailed description of the property being bailed, including condition, value, and identifying characteristics
5. Term of Bailment: Specifies the duration of the bailment arrangement
6. Delivery and Return: Details the process for delivering the property to the bailee and returning it to the bailor
7. Duties of the Bailee: Outlines the bailee's responsibilities for care, storage, and handling of the property
8. Standard of Care: Specifies the level of care required from the bailee in maintaining the property
9. Prohibited Uses: Specifies restrictions on how the bailed property may be used
10. Compensation and Charges: Details any fees, charges, or compensation related to the bailment
11. Insurance and Risk: Addresses insurance requirements and allocation of risk
12. Liability and Indemnification: Sets out liability terms and indemnification obligations
13. Termination: Specifies how and when the agreement can be terminated
14. Governing Law: Specifies that Nigerian law governs the agreement
15. Signature Block: Space for parties to execute the agreement
1. Security Deposit: Required when the bailee must provide a security deposit for valuable items
2. Special Handling Instructions: Needed for items requiring specific storage conditions or handling procedures
3. Sub-bailment Provisions: Include when sub-bailment might be permitted
4. Maintenance and Repair: Required for bailments involving equipment or items needing regular maintenance
5. Access Rights: Include when the bailor needs to maintain access to the property during bailment
6. Commercial Use: Required when the bailment is for business purposes
7. Reporting Requirements: Include when regular updates on property condition are needed
8. Force Majeure: Optional clause for addressing extraordinary circumstances
9. Dispute Resolution: Include specific dispute resolution procedures if desired
1. Schedule A - Property Description: Detailed inventory and description of bailed property, including photographs and condition reports
2. Schedule B - Handling Procedures: Specific procedures for handling, storing, or maintaining the property
3. Schedule C - Fee Schedule: Detailed breakdown of all fees and charges if applicable
4. Schedule D - Insurance Requirements: Specific insurance requirements and coverage details
5. Appendix 1 - Condition Report: Detailed report of property condition at time of bailment
6. Appendix 2 - Required Maintenance Schedule: Schedule of required maintenance for applicable property
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