Locking Cabinets Inventory

LOCKING CABINETS INVENTORY AND CUSTODY AGREEMENT

Parties and Effective Date

Effective Date:

Recitals

WHEREAS, Company Name: owns locking cabinets used to store equipment, materials, confidential documents, or other property; and

WHEREAS, Custodian: is designated to maintain custody, control, and an accurate inventory of said locking cabinets and their contents in accordance with the terms set forth herein; and

WHEREAS, the parties desire to establish a written inventory protocol, custody responsibilities, and related service/payment terms.

Scope of Work

The Custodian will perform an initial physical inventory of each locking cabinet identified below, maintain a running inventory for additions and removals, secure keys or combinations as set forth in this Agreement, and provide periodic inventory reports to Company in a form reasonably acceptable to Company.

Inventory Record

The following inventory entries constitute the initial recorded condition of each locking cabinet and its contents on the Effective Date. Additional rows may be appended on separate pages as necessary and shall be incorporated into this Agreement by reference.

Payment Terms

In consideration for inventory and custody services, Company shall pay Provider as follows:

Failure to pay undisputed amounts when due shall constitute a material breach and entitle Provider to suspend services and seek recovery of amounts due, including reasonable collection costs and attorneys' fees.

Term and Termination

This Agreement shall commence on Start Date: Month Day Year and shall terminate on End Date: Month Day Year unless earlier terminated as provided below.

Either party may terminate for material breach if the breaching party fails to cure within the notice period specified above. Termination shall not relieve either party of obligations accrued prior to termination, including payment for services rendered and costs of securing or returning custodial materials.

Confidentiality

Each party shall maintain in confidence all non-public information obtained in connection with this Agreement, including inventory lists, contents descriptions, access codes, and any other material designated as confidential. Confidential information shall not be disclosed except to employees or agents with a need to know, or as compelled by law, in which case the disclosing party shall provide prompt written notice to the other party where legally permitted.

Liability and Insurance

Custodian shall exercise reasonable care in custody of cabinets and contents but shall not be liable for loss or damage resulting from causes beyond its control, including force majeure, theft despite reasonable security, or third-party acts. Company may require proof of insurance covering contents and shall notify Custodian of any insurance requirements in writing.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state selected by Company at the time of execution. The parties consent to the exclusive jurisdiction of state and federal courts located in that state for any dispute arising under this Agreement.

Entire Agreement

This Agreement, together with any attachments or addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior discussions, proposals, and agreements, whether written or oral. No amendment shall be binding unless in writing and signed by authorized representatives of both parties.

Inventory Certification

The Inventory Officer certifies that, to the best of their knowledge, the entries above accurately reflect the contents and condition of each listed locking cabinet as of the Date Inventoried entries and that any discrepancies have been noted in Inspection Notes.

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