Products tagged with 'bailment agreement'

Place tooling and equipment with a supplier as bailee under this Tooling Bailment Agreement to enable them to produce products for your business. For use in the USA.

• The bailment agreement is ancillary to a supply agreement between the parties, under which the supplier will produce products for the bailor.
• The supplier takes possession of the tooling as bailee at will, for the sole purpose of producing the products for the bailor.
• The bailor retains ownership of the tooling at all times.
• The bailee will not allow any liens or encumbrances to attach to the tooling. The template includes a Lender Acknowledgement and Consent form, which is to be signed by any secured lenders of the bailee acknowledging that the tooling and equipment belong to the bailor.
• The bailee must keep the tooling in good operating condition at its own expense and is liable for loss or damage to the tooling as long as it remains in the bailee's possession.
• The bailor has a right to injunctive relief if the bailee is in breach of the agreement and the breach threatens the bailor's business operations.
• This Bailment Agreement template is intended for use within the United States.

Place your vehicle temporarily in the care of another person with this easy-to-use Vehicle Bailment Agreement.

• You need a Bailment Agreement for situations where your vehicle is in someone else's possession for a short period, for instance if you loan it to someone or they're storing a vehicle for you.
• The bailee (person who has possession of the vehicle) is responsible for looking after the vehicle and returning it in the same condition as when it was bailed.
• The bailee indemnifies the vehicle owner against all liability arising when the bailee had possession of the vehicle.
• The owner may terminate the agreement prior to its expiry for any misuse or neglect of the vehicle by the bailee.
• This Vehicle Bailment Agreement is a generic legal form template that is not country-specific and can be used almost anywhere.

Prepare a Bailment Agreement for products that will be sent to another party for evaluation with this easy downloadable template.

What does "bailment" mean?

The term "bailment" means the transfer of possession of certain goods by the owner (the bailor) to another person (the bailee) for a specific purpose, on the condition that they will be returned to or reclaimed by the owner after the purpose is accomplished. The bailee does not acquire any ownership or title to the goods.

When would this Bailment Agreement be applicable?

This contract form can be used for situations where a third party evaluator needs to take possession of software, hardware, equipment or other products in order to evaluate them.

Key Provisions of the Agreement

• The bailor (owner) retains full title and ownership of the goods being bailed. The bailee (evaluator) agrees not to sell, transfer, encumber or subject the bailed property to any legal process.
• The bailor agrees that if any part of the bailed goods installed on the bailee's property would cause damage to that property if removed, title to that portion of the bailed goods will pass to the bailee.
• The bailed goods are provided "as is" and without any warranty of any kind, including warranties of merchantability or fitness for a particular purpose.
• The bailee is under no obligation to purchase any goods from, or have any future business dealings, with the bailor.

Confidentiality

The bailee and its employees, contractors and agents are bound by confidentiality provisions to protect the bailor's intellectual property and confidential information.

Format and Scope of Agreement

This Bailment Agreement is available as a downloadable MS Word file. It is customizable and reusable, making it flexible and cost-effective.

This is a generic legal contract template which does not contain references to the laws of any specific country or region. It can be used almost anywhere.