Safe Custody Policy

If you store items in safe custody with us, the terms of the following Safe Custody Bailment Agreement will apply.

By continuing to store your items in safe custody with us, you are deemed to have accepted these terms.

Safe Custody Bailment Agreement

This Safe Custody Bailment Agreement ("Agreement") is made between you (hereinafter referred to as the "Bailor") and Sproal & Associates Pty Ltd (ACN 159 218 023), with its principal place of business located at 71 St John Street, Launceston in Tasmania (hereinafter referred to as the "Sproal").

WHEREAS, Bailor desires to deposit or leave a Certificate of Title ("the Title") with Sproal for safekeeping and Sproal is willing to accept and retain the Title for such purposes subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties agree as follows:

1. The Title

Sproal shall accept the Title for safekeeping, in accordance with the terms of this Agreement.

2. Safekeeping

Sproal agrees to exercise reasonable care in the safekeeping of the Title while it is in the possession of Sproal. Sproal shall maintain the Title in a secure location and shall take all necessary measures to prevent loss, damage or theft of the Title.

3. Access

The Bailor shall have the right to access the Title during normal business hours upon reasonable notice to Sproal. The Bailor must present identification to the Sproal’s satisfaction and verification of the Bailor's right to access the Title.

4. Offsite Storage

Sproal may, in its discretion, store the Title offsite at the Land Titles Office or at a secure facility or with a third-party storage provider. The Bailor acknowledges and agrees that the Title may be temporarily unavailable for inspection or retrieval during such periods of offsite storage. If the Bailor wishes to inspect or retrieve the Title, they shall provide Sproal with at least five (5) business days' written notice in advance. Sproal shall make reasonable efforts to accommodate such requests, subject to any constraints or limitations imposed by the Land Titles Office, offsite storage location or third-party storage provider.

5. Term

This Agreement shall remain in effect until terminated by either party upon thirty (30) days' prior written notice to the other party. Sproal may terminate this Agreement immediately if it determines that continued safekeeping of the Title presents a risk to the safety or security of Sproal or its employees for whatever reason.

6. Release

Sproal shall promptly release the Title to the Bailor upon the Bailor's written request. The Bailor agrees to provide reasonable advance notice of any such request and to reimburse Sproal for any reasonable expenses incurred in connection with the release of such documents and materials. Sproal will also require the Bailor to provide reasonable proof of identity and authority before releasing any documents or materials.

7. Multiple Bailors

If there are multiple Bailors, Sproal will require all of them to provide written authorisation and proof of identity before releasing the Title. Sproal shall not be liable for any loss or damage resulting from the release of documents or materials to any person who purports to be a Bailor and provides satisfactory evidence of identity and authority, provided that Sproal acted in good faith in releasing the Title.

8. Fees

The Bailor agrees to pay any reasonable fees or charges imposed by Sproal relating to the release of the Title, including, but not limited to, fees for copying, posting, and handling. Sproal shall provide the Bailor with an itemised invoice for any such fees or charges, and the Bailor shall pay such invoice within 14 days of receipt. Sproal may withhold the release of the Title until all such fees and charges are paid in full.

9. Termination or Relocation of Sproal

The Bailor acknowledges and agrees that Sproal may, in its discretion, cease operations or relocate its offices, and that such cessation or relocation may affect Sproal's ability to continue to hold the Title. The Bailor hereby releases Sproal from any obligation to notify the Bailor in the event of such cessation or relocation. The Bailor agrees that, in the event of such cessation or relocation, Sproal shall be entitled to transfer the Title to a successor bailee or return them to the Bailor, as Sproal deems appropriate. The Bailor further acknowledges and agrees that any such transfer or return shall constitute a complete discharge of Sproal's obligations under this Agreement, and that Sproal shall have no further liability or obligation to the Bailor with respect to the Title.

10. Indemnification

The Bailor agrees to indemnify and hold harmless Sproal from any and all claims, damages, losses, or expenses arising out of the safekeeping of the Title, including but not limited to any claim arising out of the Bailor's breach of any warranty or representation contained herein.

11. Amendment

This Agreement may be amended or modified only by a writing signed by both parties.

12. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state of Tasmania.

13. Entire Agreement

This Agreement constitutes the entire understanding between the parties and supersedes all prior negotiations, understandings or agreements, whether written or oral, relating to the subject matter hereof.