Warehouse Receipts-Get a Copy and Review Terms and Conditions
By Daniel W. Raab, Esq
July 8, 2018
When sending cargo to a warehouse, it is important to get a copy of the warehouse receipt. The warehouse receipt typically has a front and a back.
Sometimes the back of the warehouse receipt is online. It can contain limitations of liability. This receipt can also have provisions as to what can be done by way of a warehouse sale in the event that the shipper owes money to the warehouse facility.
If you own a warehouse, it is important to have a warehouse receipt and make sure that it is issued to the party bringing cargo into the warehouse. Make sure that you give the party bringing items into the warehouse an opportunity to declare a higher value. Placing the warehouse receipt online can also help to give notice of the terms and conditions. The owner of the warehouse should also be aware that contracts for alarm systems and security guards typically contain limitations of liability.