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Bailment Agreement
"I need a Bailment Agreement for my art gallery to temporarily store valuable paintings from private collectors, including specific temperature control requirements and professional handling procedures, with insurance coverage of at least $500,000."
1. Parties: Details of the bailor and bailee
2. Background: Context and purpose of the bailment arrangement
3. Definitions: Key terms used in the agreement
4. Description of Property: Detailed description of the bailed property
5. Term of Bailment: Duration of the bailment arrangement
6. Duties of Bailee: Obligations regarding care and custody of property
7. Return of Property: Conditions and process for returning property
1. Fees: Payment terms for non-gratuitous bailments
2. Insurance: Insurance requirements for bailed property, typically for high-value items or commercial bailments
3. Sub-bailment: Terms regarding transfer to third parties when sub-bailment might be necessary
4. Security Measures: Specific security requirements for valuable or sensitive items
1. Property Schedule: Detailed inventory of bailed property
2. Condition Report: Documentation of property condition at time of bailment
3. Fee Schedule: Detailed breakdown of charges if applicable
4. Handling Instructions: Special instructions for property care and maintenance
Authors
Bailor
Bailee
Property
Bailment Period
Commencement Date
Termination Date
Permitted Use
Storage Location
Care Standard
Fees
Insurance Requirements
Force Majeure Event
Business Day
Confidential Information
Representatives
Security Interest
Sub-bailment
Handling Instructions
Condition Report
Damage
Loss
Return Notice
Special Storage Requirements
Schedules
Delivery of Property
Term and Duration
Possession and Control
Duties of Care
Permitted Use
Storage Requirements
Fees and Payment
Insurance
Risk and Title
Liability and Indemnity
Return of Property
Termination
Force Majeure
Confidentiality
Security Measures
Sub-bailment Rights
Representations and Warranties
Record Keeping
Inspection Rights
Notices
Assignment
Governing Law
Dispute Resolution
Entire Agreement
Severability
Variation
Third Party Rights
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