Long Island, NY oneg1396@aol.com

Bailee Agreement Inventory

Some jurisdictions have required Bailees to a standard of due diligence without formal distinction based on benefits. Each of these scenarios may prevent a lender from recognizing its right to advanced inventory deposit. The Warehouseman Agreement should also (i) indicate the location of all storage sites, (ii) confirm that the storage agreement between Warehouseman and Lender is current and that no amount is due and due; iii) invite Warehouseman to delay the lender in accordance with the storage agreement and (iv) allow the lender or its agents to access the goods for examination, inspection and sale of the goods. In addition, the lender may include in the warehousekeeper`s agreement a provision that, if the lender exercises its remedies against the goods, the lender shall assist the lender in the collection, packaging and shipment of the goods, as requested by the lender, for an economically reasonable fee per day, based on its current market prices. . . .