Oklahoma General Form of Warehouse Storage Agreement

• Category: Contracts - Storage
• State: Multi-State
• Control #: US-0090BG
• Format: Word; Rich Text

Description

The relationship between warehouseman and depositor is that of bailer and bailee, and many of the principles applicable to bailments generally obtain with respect to warehouse storage. Like other bailment contracts, a warehousing storage contract is subject generally to the law of contracts, and the parties may fix the terms of storage and regulate their responsibilities in a written agreement, however, restrictions imposed by statute may apply.

The Oklahoma General Form of Warehouse Storage Agreement is a legally binding contract that outlines the terms and conditions between a warehouse owner or operator and a customer who wishes to store their goods or merchandise in the warehouse. This agreement ensures that both parties understand their rights, obligations, and responsibilities regarding storage, protection, and handling of the goods. The Oklahoma General Form of Warehouse Storage Agreement typically includes key elements such as: 1. Parties involved: It clearly identifies the warehouse owner/operator and the customer. The legal names and contact information of both parties should be included. 2. Description of goods: The agreement requires the customer to provide a detailed description of the goods being stored, including quantity, weight, dimensions, and any specific handling or storage requirements. 3. Term of storage: The agreement specifies the duration for which the goods will be stored in the warehouse. It may range from a specific number of days to an indefinite period, depending on the agreement between the parties. 4. Storage fees: The agreement outlines the fees associated with the storage services, such as monthly or annual charges, additional fees for special handling or access to the goods, and late payment penalties if applicable. 5. Liability and insurance: This section explains the limits of liability for the warehouse owner/operator, stating whether the goods will be insured by the warehouse or the customer should obtain separate insurance coverage. It also addresses the responsibility for any loss, damage, or theft of the stored goods. 6. Access and security: The agreement should clearly define who has access to the stored goods and the security measures taken by the warehouse owner/operator to protect them, such as CCTV surveillance, alarm systems, or restricted access areas. 7. Termination and dispute resolution: It includes provisions for terminating the agreement, including notice periods and reasons for termination. Additionally, it outlines the dispute resolution mechanism, whether through arbitration, mediation, or litigation. Different types of Oklahoma General Form of Warehouse Storage Agreements may exist based on the purpose, nature, or industry-specific requirements. Some examples include: 1. General Merchandise Storage Agreement: This agreement is commonly used for storing a wide range of goods, including manufactured products, equipment, and general inventory. 2. Cold Storage Agreement: This type of agreement is specifically designed for storing perishable items requiring refrigeration or temperature-controlled environments, such as food products, pharmaceuticals, or chemicals. 3. Bonded Warehouse Agreement: This agreement pertains to goods being stored in a bonded warehouse, a facility authorized by customs authorities to store imported goods until they are released for consumption or exported. In conclusion, the Oklahoma General Form of Warehouse Storage Agreement is a comprehensive contract that establishes the rights and obligations of both the warehouse owner/operator and the customer in relation to the storage and handling of goods. It is essential for clarifying terms, minimizing disputes, and ensuring a mutually beneficial business relationship.