What Does a Landman Do?

The custodian refers to the party who keeps the storage. According to the Contract Law, the custodian must be a person with warehousing equipment and qualifications specialized in warehousing and custody business.

custodian

Right!

The custodian refers to the party who keeps the storage. According to the Contract Law, the custodian must be a person with warehousing equipment and qualifications specialized in warehousing and custody business.

(1) Collect storage fees or remuneration according to the contract. Where the storage contract is agreed to be a paid contract, the custodian has the right to require the depositor to pay fees and remuneration; if the storage contract is an unpaid contract, no remuneration can be collected, and the custodian's liability is accordingly reduced, that is, the custodian does not bear the loss of the subject matter risk. ^[1]

(1) Issuing warehouse receipts. After receiving the goods, the custodian shall timely issue a warehouse receipt to the custodian in accordance with the agreement of the contract or the custodian's request. At the expiration of the deposit period, the goods shall be delivered to the holder of the warehouse receipt according to the records of the warehouse receipt and shall bear the responsibilities specified in the warehouse receipt. The custodian issues warehouse receipts based on the actual situation of the goods received, and determines the liabilities of the warehouse receipts according to the contract, in order to prevent future obligations to the warehouse receipt holders from exceeding the responsibilities stipulated in the warehouse contract. ^[1]

(2) Have suitable storage conditions. Having proper storage conditions is a prerequisite for the warehouser to operate storage and storage. In addition to the facilities and equipment for storage of goods, such as suitable sites, containers, warehouses, shelves, operation and handling equipment, measuring equipment, storage equipment, safety and security facilities, etc., they must also have corresponding warehouse management personnel, commodity maintenance personnel, and Effective warehouse management system and operating procedures. At the same time, the custodian's warehousing conditions must be suitable for the warehousing items to be kept. For example, the conditions of the grain storehouse for storing grain and the cold storage for refrigerated goods should be suitable for the storage of grain and refrigerated goods. If the custodian does not have the conditions for warehousing, it will constitute a breach of contract by the custodian.

(3) Accept the goods. Acceptance of the goods is not only the obligation of the custodian, but also its contractual rights. When receiving the storage, the custodian shall carry out tallying, counting and inspection of the goods, inspect the quality of the goods within the period agreed in the contract, and issue an inspection document. Accept the goods according to the standards and methods agreed in the contract, or reasonable methods. The custodian finds that the goods are overfilled in the inspection and can reject the overflow; for the short part, it has the right to claim liability for breach of contract with the depositor; for the bad condition of the goods, it has the right to ask the depositor to replace, repair or refuse to accept. Records of acceptance must be truthfully recorded with clear responsibilities.

(4) Rationalize storage. The custodian shall store the storage materials at the storage location specified in the contract, and use advanced technology, scientific methods, and strict systems to carry out high-quality storage management. The custodian shall use storage facilities and equipment suitable for storage of storage materials, such as containers, shelves, warehouses, etc. The custodian shall rationalize the warehousing from various aspects such as careful operation, proper handling, scientific storage and reasonable maintenance. For the storage of storage items, the custodian shall be liable for damages and losses during storage due to improper storage, unless the custodian can prove that the damage was caused by the nature of the goods, improper packaging, overdue and other exemptions. Otherwise, the liability for compensation shall be borne by the custodian.

(5) Danger notice. When the storage is in danger, the custodian shall promptly notify the stockholder or the holder of the warehouse receipt. Including adverse conditions discovered during the acceptance of the goods, occurrence of force majeure damage, deterioration of the storage, damage caused by storage accidents, and other circumstances involving ownership of the storage should be notified to the depositor. The state of the warehouser's grasp of the state of the warehouse is a manifestation of the owner's right to ownership. The danger of the warehouse relates to the transaction, insurance and possible further damage of the warehouse. Of course, when a danger occurs or is discovered, it is the duty of the custodian to take emergency measures to prevent the harm from expanding.

(6) Return the storage. Upon the expiration or termination of the term of the custody contract, the custodian shall return the custody in a timely manner. The return of the depositary shall be the original, and if the original has a breath, the original and its breath shall be returned to the depositary together. Where the currency or other substitutes are kept, the same type, quantity or quality of currency or articles may be returned as agreed.