The Storage Licence Agreement is essential for businesses and individuals requiring secure storage solutions in India. This document is commonly used when parties need to formalize arrangements for storing goods, equipment, or inventory in a designated facility. The agreement becomes particularly important in the Indian context due to specific legal requirements under various acts including the Indian Contract Act, 1872, and the Warehousing (Development and Regulation) Act, 2007. It provides a comprehensive framework covering operational aspects, liability allocation, and risk management while ensuring compliance with local regulations. The document is adaptable to various storage needs, from commercial warehousing to personal self-storage facilities, and can be customized based on specific requirements while maintaining its enforceability under Indian law.
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1. Parties: Identification and details of the licensor (storage facility owner/operator) and licensee (storage space user)
2. Background: Context of the agreement, including brief description of the facility and purpose of the arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Licence: Specific terms of the licence grant, including the nature of the right being granted
5. Storage Space: Detailed description of the licensed storage space and its location within the facility
6. Licence Period: Duration of the licence, including start date and end date
7. Licence Fee: Payment terms, amount, frequency, and method of payment
8. Permitted Use: Specified purposes for which the storage space may be used
9. Access and Security: Rules regarding access to the storage space, including hours of operation and security procedures
10. Licensee's Obligations: Key responsibilities of the licensee including maintenance, compliance with rules, and prohibited activities
11. Licensor's Obligations: Key responsibilities of the licensor including maintenance of the facility and provision of basic services
12. Prohibited Items: List of items that cannot be stored in the facility
13. Insurance: Insurance requirements for both parties
14. Liability and Indemnity: Allocation of risks and responsibilities between parties
15. Termination: Circumstances under which the agreement can be terminated and the process for termination
16. Governing Law: Specification of Indian law as the governing law and jurisdiction
1. Security Deposit: Terms regarding security deposit, if required - useful for higher-value storage arrangements
2. Utilities: Provisions regarding utility services if separately charged or if special requirements exist
3. Sublicensing: Provisions regarding sublicensing rights - typically included for commercial storage arrangements
4. Environmental Compliance: Special provisions for storage of materials requiring environmental compliance
5. Special Storage Requirements: For temperature-controlled or specialty storage requirements
6. Alterations: Terms regarding permitted modifications to the storage space - relevant for long-term commercial storage
7. Force Majeure: Provisions for unforeseen circumstances - particularly relevant in areas prone to natural disasters
8. Assignment: Rights and restrictions regarding assignment of the licence - important for commercial arrangements
9. Dispute Resolution: Detailed dispute resolution procedures including mediation/arbitration - for high-value arrangements
1. Schedule 1 - Storage Space Plan: Detailed plan or drawing showing the exact location and dimensions of the storage space
2. Schedule 2 - Licence Fee Schedule: Detailed breakdown of fees, including any escalation provisions
3. Schedule 3 - Facility Rules and Regulations: Comprehensive rules governing the use of the facility
4. Schedule 4 - Inventory List: Template for recording items stored (if required)
5. Schedule 5 - Insurance Requirements: Detailed insurance requirements and minimum coverage levels
6. Schedule 6 - Access Procedures: Detailed procedures for accessing the facility and storage space
7. Schedule 7 - Condition Report: Documentation of the condition of the storage space at commencement
8. Schedule 8 - Special Storage Requirements: Technical specifications for any special storage requirements
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