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Mandatory Provisions to be Included in the Standard Form Contract for Safe Deposit Box Rental
1. (Consideration and Payment Method)
Lessee shall pay rent, security deposit or rental deposit according to the rent schedule published by Lessor or the rental rate specifically agreed between the parties at the time of leasing (referred to as the “Rates” hereunder):
Lessee agrees to rent the safe deposit box according to one of the following conditions:
(1) □ Rent: NT$ ; security deposit (if applicable): NT$________ (may not exceed rent for the term), to be paid on □ lease start day □ lease renewal day (if applicable) □others ( ).
(2) □ Rental deposit: NT$ (no rent nor security deposit needs to be paid), to be paid on □ lease start day □ others ( ).
(3) □ Others ( ).
2. (Term of Lease)
The lease of the safe deposit box starts from (year) (month) (day) for a term of ______.
The lease of safe deposit box may be renewed in the following manner: .
If Lessor decides not to renew the lease upon expiration, Lessor should notify Lessee in writing __________ days in advance.
3. (Adjustment, Additional Payment and Refund of Consideration, and Changes to Other Agreements)
When Lessor plans to adjust the Rates, Lessor shall notify Lessee the applicable Rates for the next lease term in writing or in a manner agreed in advance with Lessee at least 30 days before expiration of the lease, and post the new Rates at its business places and on its website at least 60 days before the new Rates take effect.
Lessor’s notice mentioned in the preceding paragraph shall contain the following particulars:
(1) The adjusted Rates for the new term and rent due for lease renewal or amount of additional payment or refund for difference in security deposit or rental deposit; and
(2) The deadline for rent payment or additional payment (at least 30 days).
Where Lessee fails to pay the rent, security deposit or rental deposit in full before the given deadline after Lessor has notified Lessee in a manner according to Paragraph 1 hereof, Lessee shall be subject to delay interest at Lessor’s base rate offered on the day the additional payment is due plus a markup__ (at annual rate of ____%) from the day payment becomes overdue to the day payment is made in full. The annual rate of delay interest shall not be more than 100% of Lessor’s offered base rate. (The bank shall indicate whether the prime rate is the discount rate of the Central Bank, average interest rate of the time deposits of major banks, average interbank overnight call-loan rate, money market rate, or other representative and transparent market benchmark rate, plus a certain percentage, that has been publicly announced as required.)
Where Lessor changes other clauses of this Contract, Lessor shall publish such changes in advance at its business places and on its website, and notify Lessee at least 30 days before the current lease expires regarding applicable contract clauses for the next lease term or to sign a new lease.
If Lessor does not make a notice as described in Paragraph 1 or the preceding paragraph, it is deemed that the lease will be renewed under the original terms and conditions. But if the Rates have been reduced, the new Rates will apply.
4. (Deduction of Security Deposit or Rental Deposit)
Where Lessee breaches the agreement in this Contract and therefore becomes liable for damages sustained by Lessor thereof, Lessee agrees that when the amount of compensation is determined, Lessor may, after notifying Lessee, proceed to deduct the amount from the security deposit or rental deposit paid and ask Lessee to pay the shortfall, if any.
5. (Agreement on Access to Safe Deposit Box by a Third Person)
Unless it is otherwise agreed, the parties agree that when a third person requests to access Lessee’s safe deposit box using the agreed means for box opening and the agreed identification method, it will be treated as if Lessee is requesting access to the box in person, to which Lessor may not refuse.
6. (Scope and Restriction of Box Contents)
Lessee may place securities certificates, rights certificates, valuables, souvenirs and other articles or documents in the safe deposit box. Deposits of dangerous items, banned or illegal goods, combustibles or explosives, articles that threaten public safety or public health, or moist, odorous or easy to rot or decay items, and other items as agreed between the parties are not allowed.
Where Lessee breaches the preceding paragraph that results in damage to the safe deposit box or other damages, or causes Lessor to become liable to third parties, Lessee shall compensate Lessor for damages incurred thereof.
Where out of public safety concerns or for the sake of criminal investigation initiated by judicial or policy agencies that Lessor plans to meet with judicial officials or police to search or seize the contents in Lessee’s safe deposit box according to law, Lessor should notify Lessee.
If a situation mentioned in the preceding paragraph is of urgent nature or may interfere with search, seizure or other criminal investigative actions, or Lessee cannot be reached, Lessor may proceed without notifying Lessee. However Lessor should promptly notify Lessee of the situation in writing afterwards.
7. (Safe Deposit Box Access Control)
Lessee may not duplicate the key or access card provided by Lessor at his/her own discretion. If Lessee is found to breach the preceding provision, Lessor may unconditionally confiscate and destroy the duplicated key or access card, and Lessee shall be held liable for dispute and damages arising thereof.
8. (Lessor’s Duty of Care)
Lessor shall exercise the duty of care of a good manager with regard to the safety, safeguard and maintenance of safe deposit box and vault as well as box access formalities.
If the safe deposit box and vault provided by Lessor do not meet the basic safety requirements set forth by the competent authority or Lessor’s operational formalities for accessing safe deposit box does not follow its established rules and the procedure agreed herein, Lessor shall be deemed to have failed in performing the duty of care of a good manager.
9. (Indemnity)
If Lessee’s deposits in the safe deposit box are stolen, lost, destroyed, degenerated, or otherwise damaged as a result of deficiency in the establishment or management of the safe deposit box, the parties agree to handle the situation in the following manners, unless it is otherwise agreed:
(1) If the contents and dollar amount of loss claimed by Lessee after damage has occurred do not exceed NT$__________ (which shall not be less than NT$50,000), Lessor will compensate Lessee for the amount of loss claimed.
(2) If Lessee’s claim of loss exceeds the aforementioned amount and Lessor agrees to such an amount, Lessor will compensate Lessee for the amount of loss claimed, up to NT$ ______ (which shall not be less than NT$500,000).
Lessee is entitled to seek more damages if he/she could prove that the amount of loss he/she has sustained exceeds the amount provided in Subparagraph 2 of the preceding paragraph.
The amounts in Subparagraphs 1 and 2 of Paragraph 1 shall be jointly agreed on by Lessee and Lessor, instead of being decided unilaterally by Lessor.
10. (Obligation of Lessee or Heir to Notify)
When Lessee or his/her heir has any of the following situations, they shall promptly notify Lessor in writing, or via Lessor’s automated telephone voice system, hotline or in another agreed manner:
(1) Loss of key or access card or change of password.
(2) Change or loss of seal.
(3) Name change.
(4) Change of organization name or representative’s name in case Lessee is a juristic-person organization.
(5) Access to safe deposit box to put on hold due to inheritance proceedings or other material events.
Lessor shall suspend access to safe deposit box after receiving a notice as provided in Subparagraph 1, 2, or 5 of the preceding paragraph and until Lessee or heir has completed the required formalities. Lessor will be held liable for the damages of Lessee or his/her heir resulting from its failure to suspend access to safe deposit box.
When Lessee or his/her heir fails to notify Lessor in accordance with the provisions in Paragraph 1 hereof, Lessor shall not be held liable for any damages incurred by them thereof.
11. (Expiration of Lease)
Lessor may notify Lessee before expiration of the lease, asking Lessee to carry out the formalities of lease renewal or termination at Lessor’s business place.
Lessor may stop Lessee’s access to the safe deposit box before Lessee has completed the formalities of lease termination or renewal and paid any rent owed when the current lease expires.
If Lessee terminates the lease after the lease has expired, Lessor may charge Lessor overdue rent by the day starting from the next day following the original expiration date to the day the termination formalities are completed or the day the safe deposit box is forced open.
12. (Procedure for Termination of Contract by Lessee and Refund of Rent)
Lessee may terminate this Contract at any time by carrying out the formalities at Lessor’s business place in person or by an authorized agent appointed in writing.
When Lessee terminates this Contract, the rent will be charged by the month and by days for a partial month.
After the rent mentioned in the preceding paragraph has been deducted from the rent and security deposit already paid by Lessee, Lessee shall make up the shortfall if there is any underpayment; if there is overpayment, Lessor shall promptly refund the excess rent and security deposit with no interest accrued at the time Lessee carries out the formalities of lease termination.
If Lessee has paid rental deposit for leasing the safe deposit box, Lessor shall promptly refund the rental deposit with no interest accrued when Lessee terminates this Contract and carries out the formalities of lease termination.
13. (Causes for Termination of Contract by Lessor and Refund of Rent)
If Lessor has any of the situations below, it may notify Lessee termination of this Contract _______ days in advance (not less than 30 days) in writing:
(1) Lessor plans to repair or relocate the safe deposit box facilities or close its safe deposit box business.
(2) Lessor has served Lessee a notice to pay the difference in security deposit or rental deposit according to the agreement in Paragraph 1 of Point 3 herein, but Lessee fails to make payment after ____ months (not less than 1 month).
(3) Lessee has due but unpaid rent on the safe deposit box and fails to pay off in ____ days (not less than 30 days) after Lessor has served him/her a payment notice.
(4) Lessee’s use of the safe deposit box or entry/exit into/out of the safe deposit box facilities has caused damage to Lessor or any third party.
(5) There is sufficient fact to show that Lessee has breached the scope and restrictions of box contents as provided in Paragraph 1 of Point 6 herein and Lessee has failed to remedy the situation at Lessor’s business place in a given time period as indicated in Lessor’s notice.
(6) Lessee breaches other agreements under this Contract and the breach is of serious nature.
When Lessor terminates this Contract due to a cause as provided in Subparagraph 1 of the preceding paragraph, Lessor will charge rent based on the actual days of rental and refund the prepaid rent not yet due plus interest accrued at the legally stipulated rate. When Lessor terminates this Contract due to any cause as provided in Subparagraphs 2 to 6 of the preceding paragraph, Lessor will charge rent by the day and refund the undue rent already paid by Lessee with no interest accrued, and refund the security deposit and rental deposit with no interest accrued when Lessee completes the formalities of lease termination.
The refundable rent, security deposit and rental deposit mentioned in the preceding paragraph may be used for offset according to law.
14. (Causes and Method for Forced Opening of Safe Deposit Box)
Unless it is otherwise agreed, if Lessee fails to carry out lease renewal or terminate the lease in ____ months (not longer than 6 months) after the lease has expired and Lessor has sent a notice to the effect, or this Contract is terminated but Lessee fails to carry out related formalities for discontinuing the use of safe deposit box during the time period as notified by Lessor, Lessor may first notify the Lessee-designated contact person, and if there is no such contact person or the contact person cannot be reached, request the service of a notary public or chief of the village or borough, or other impartial persons to meet and force open the safe deposit box. Lessor may use camera, camcorder or other technology tools to record the box opening process.
15. (Handling of Contents after Forced Opening of Safe Deposit Box)
After the safe deposit box is forced open, the contents will be handled in the following manner:
(1) Lessor will, together with Lessee's contact person or an impartial third person mentioned in the preceding point, take inventory of the contents and produce a list, and temporarily pack the contents in a sealed package (with signature or stamp affixed), and immediately notify Lessee to pick up the contents in ____ months (at least six months).
(2) When Lessee fails to pick up the contents within the aforementioned time period and the security deposit or rental deposit paid is insufficient to cover the overdue rent and other damages, Lessor is entitled to sell the contents according to law and use the proceeds to offset the amount owed; if there is any leftover, Lessor will hold it under special deposit for withdrawal by Lessee, and if there is any shortfall, Lessee shall be responsible for making it up.
(3) When Lessee fails to pick up his/her contents within the time period provided in Subparagraph 1 hereof and the contents apparently do not have any cash value, Lessee agrees to forfeit his/her ownership of the contents and leave their disposal to the sole discretion of Lessor.
In case the situation in Subparagraph 2 or Subparagraph 3 of the preceding paragraph occurs, Lessor shall notify Lessee of how things have been handled.
16. (Third-Party Compulsory Execution)
When a third party requests a court order of compulsory execution over Lessee’s deposits in the safety deposit box, Lessor should promptly notify Lessee of the situation if it has opened the box under court order.
17. (Notice of Change of Address)
If Lessee or his/her contact person changes residence or mailing address or Lessor changes its business place, the changing party shall promptly notify the other party and the contact person in writing or in a manner as agreed by Lessee and Lessor. |