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National People's Congress
Promulgation Date: 1999.3.15
Effective Date: 1999.10.1
CHAPTER 19 CONTRACTS FOR STORAGE
Article 365 A storage contract refers to a contract whereby the safekeeping party keeps in store the article handed over by the storing party, and returns the said article.
Article 366 The storing party shall, according to the terms of the contract, pay to the safekeeping party the storage fee. Where there is no agreement in the contract regarding the storage fee, or such agreement is unclear, nor can it be determined according to the provisions of Article 61 of this Law, the storage shall be for free.
Article 367 A storage contract is established at the time when the article to be stored is handed over, except as otherwise agreed upon by the parties.
Article 368 When the storing party hands over the article to be stored to the safekeeping party, the safekeeping party shall issue a storage certificate, except as otherwise practised in transactions.
Article 369 The safekeeping party shall keep in appropriate store the articles to be stored. The parties may agree on the site or method of storage. The site or method of storage may not be unilaterally changed except in case of emergency or for the purpose of protecting the interests of the storing party.
Article 370 Where an article handed over by the storing party for storage has defects, or special measures need to be taken due to the character of the article, the storing party shall inform the safekeeping party of such macters. Where the storing party fails to inform the safekeeping party of such macters and consequently causes damage to the stored article, the safekeeping party shall not be liable for damages. Where the safekeeping party suffers losses therefrom as a consequence, the storing party shall be liable for damages, except in the event the safekeeping party knows the situation or ought to know it but fails to take any remedial measures.
Article 371 The safekeeping party may not turn the article to be stored over to a third party for storage, except as otherwise agreed upon by the parties in the contract. Where the safekeeping party violates the provisions of the preceding paragraph and turns the article to be stored over to a third party for storage, thus causing damage to the article, the said party shall be liable for damages.
Article 372 The safekeeping party may not use or permit a third party to use the stored article, except as otherwise agreed upon by the parties.
Article 373 Where a third party claims rights on the stored article, the safekeeping party shall perform the obligation to return the article to the storing party, except that a preservative measure or executive measure is taken according to law with regard to the stored article. Where a third party brings a lawsuit against the safekeeping party or applies for a seizure by the stored article, the safekeeping party shall promptly inform the storing party of the case.
Article 374 Where during the period of storage, the stored article is damaged, destroyed or lost due to improper storage by the safekeeping party, the safekeeping party shall be liable for damages. However, where the storage is provided for free, and the safekeeping party proves that it has not acted with gross fault, it shall not be liable for damages.
Article 375 A storing party depositing currency, securities or other precious articles shall, declare the case to the safekeeping party, and the safekeeping party shall inspect and seal up the article for storage. Where the storing party fails to declare as such and the article is damaged, destroyed or lost afterwards, the safekeeping party may compensate for it as it is an ordinary article.
Article 376 A storing party may claim and get back the stored article at any time. Where there is no agreement between the parties in the contract as to the time period of the storage, the safekeeping party may request the storing party to get back the stored article at any time. Where there is such agreement on the time period of the storage, the safekeeping party may not request the storing party to get back the stored article before the time period expires without special causes.
Article 377 On the expiry of the storage time period or when the storing party claims and gets back the article before the expiry, the safekeeping party shall return to the storing party the original article and the fruits generated therefrom.
Article 378 A safekeeping party keeping in store currency may return the currency of the same kind and in the same amount. In case of storing other replaceable articles, the safekeeping party may return to the storing party articles of the same category, quality and quantity according to the terms of the contract.
Article 379 With regard to non-gratuitous storage contracts, the storing party shall pay to the safekeeping party the storage fee according to the time limit as agreed upon by the parties. Where there is no agreement as to the time limit for the payment in the contract or such agreement is unclear, nor can it be determined according to the provisions ofArticle 61 of this Law, the storage fee shall be paid at the same time when the stored article is claimed and taken back.
Article 380 Where a storing party fails to pay the storage fee and other expenses according to the terms of the contract, the safekeeping party is entitled to lien on the stored article, except as otherwise agreed upon by the parties.