FREE Canadian Property Storage Agreement
A free Property Storage Agreement for use by a storage facility in Canada when providing for the storage of goods.
Disclaimer:This was not drafted by a attorney & should not be used as a legal document.
PROPERTY STORAGE AGREEMENT
This Property Storage Agreement is made on this [Date] by and between:
[Name of Owner of Goods], having a permanent place of residence at [Address] (hereinafter referred as the "Owner");
[Name of Bailee] , having a permanent place of residence at [Address] (hereinafter referred as the "Bailee").
(Whereas the Owner and the Bailee shall be individually referred to as the Party and collectively referred as the Parties.)
The Owner is the legal and beneficial owner of the [Describe Property being Stored] (the "Property"). The Bailee has agreed to provide a storage service the Property and the Bailee accepts such responsibilities and agrees to perform the duties and obligations hereinafter set forth in this Agreement.
In consideration of the mutual covenants hereinafter set forth, and for other good and valuable consideration the parties hereto and hereby agree as follows:
1. During the term of this Agreement, the Bailee agrees to store the Property on behalf of the Owner in safe keeping at its storage facility at [Address of Storage Facility]. The Bailee acknowledges that he has inspected the Property prior to providing the storage facility and acknowledges that the Property is in good and mercantile condition
2. The Bailee agrees to exercise reasonable care to protect the Property from theft or damage, and shall maintain adequate insurance to protect the Property on behalf of the Owner from any loss or damage caused by the Bailee's negligence
3. The title, claim, right and interest in the Property shall at all times remain in the Owner only. The Owner shall pay to the Bailee a fee in the amount of CAD $ [Amount per month, which shall be paid within ten (10) days of invoice by the Bailee.
4. This Agreement will have an initial term of [Term of Agreement] months. After the expiration of the initial Term of this Agreement, either party can terminate this Agreement at any time upon thirty (30) days prior written notice to the other party. If the Owner fails to pay for and/or retrieve the Property after the expiration of [Number of days] days after the expiration of the term of this Agreement, then:(a)the storage charges payable by the Owner to the Bailee under this Agreement shall be increased to [Figure]% of the amount specified in this Agreement from and after the date of termination of this Agreement, and (b) the Bailee may, in addition to any other right or remedy it may have in law, dispose of the Property in accordance with the law, and apply the proceeds thereof to any storage charges payable under this Agreement.
5. This Agreement may not be assigned by the Owner without the prior written consent of the Bailee.
6. This Agreement shall be governed as per laws of providence of [Providence], Canada.
IN WITNESS WHEREOF THE PARTIES hereto have hereunto set and subscribed their respective hands on the day and date first hereinabove mentioned.