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A Storage Agreement whereby the Licensor gives the Licensee a licence to use the allocated storage space to store its goods and other possessions. This license is drafted in favour of the Licensor.
The Licensor shall grant and the Licensee to use the Space at the premises for the period specified therein. In this template, no additional services apart from license to use the space for storage is being provided to the Licensee. It further provides for:
(a) purpose of storage
(b) risk and insurance responsibility
(c) liability for loss of goods
(d) licensee's right of lien over the goods in storage
(b) what to not include in the storage facility
The Licensee is required to pay a Deposit and a Licence Fee as listed in the Agreement. A Security Deposit is also required in case of any damages to the allocated Space.
This document should be carefully read by the Licensor and Licensee.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid future disputes, both parties may wish to have their signature witnessed.
License Fee, Term of License and rights and liabilities should all be clearly stated in the Rental Agreement.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.