Night Depository Agreement Sample
When it comes to night depository agreements, it is important to have a comprehensive and legally binding contract in place. This not only protects your business but also ensures that all parties involved have a clear understanding of their responsibilities and obligations.
To help you get started, here is a sample night depository agreement that you can use as a template:
Night Depository Agreement
This agreement is made on [date] between [bank name] (hereinafter referred to as the “Bank”) and [client name] (hereinafter referred to as the “Client”).
1. Purpose of Night Depository
The purpose of this agreement is to establish a night depository service for the Client to deposit checks and other items in accordance with the Bank’s policies and procedures.
2. Client Responsibilities
The Client agrees to:
– Only deposit items endorsed in accordance with the Bank’s policies and procedures
– Follow all instructions provided by the Bank regarding the use of the night depository
– Ensure that all items deposited are securely packaged and sealed
– Notify the Bank immediately if any items are lost or stolen from the night depository
– Comply with all applicable laws and regulations
3. Bank Responsibilities
The Bank agrees to:
– Provide a secure and accessible night depository facility
– Process deposits promptly in accordance with the Bank’s policies and procedures
– Notify the Client of any issues or discrepancies with deposited items
– Comply with all applicable laws and regulations
4. Liability
The Client is responsible for the contents of all deposits made through the night depository. The Bank will not be liable for any loss or damage to deposited items, except in cases of gross negligence or willful misconduct on the part of the Bank.
5. Term and Termination
This agreement will remain in effect until either party provides written notice of termination. The Bank may terminate this agreement immediately if the Client breaches any of its obligations under this agreement.
6. Governing Law
This agreement will be governed by and construed in accordance with the laws of the state in which the Bank is located.
By signing below, the parties agree to the terms of this night depository agreement.
Bank:
[Signature]
[Printed Name]
Title:
Date:
Client:
[Signature]
[Printed Name]
Title:
Date:
In conclusion, a well-drafted night depository agreement is essential for any business using this service. Use the above sample as a guideline and work with a legal professional to ensure that your agreement is tailored to your specific needs and requirements.